The number of insurance fraud incidents in South Africa has increased, with two concerning trends emerging in recent years that are murder for insurance payouts and deceased estate fraud, according to Mr Jean van Niekerk, convenor of the Forensic Standing Committee of the Association for Savings and Investment South Africa (ASISA).
Great Eastern has spotlighted 12 most inspiring customers from Singapore, Malaysia and Indonesia by turning their stories into mini films starring themselves. These shorts premiered on the outdoor screen at One Raffles Place recently.
IRDAI chairman Debasish Panda is pitching for 100% foreign direct investment (FDI) in the insurance sector, saying a huge amount of capital is needed to achieve the goal of 'Insurance for All by 2047'.
The Office of the Insurance Commission (OIC) and the insurance sector have put forward proposals to rein in rising medical treatment costs, for a sustainable health insurance system.
The Malaysian Takaful Association (MTA) has officially launched the Hijrah27 framework, a strategic transformation plan with the core objectives of broadening public understanding of Islamic insurance and expanding its reach to underserved segments of the country. The goal is also for takaful to be the preferred Shariah-compliant protection choice in the country while seeking to enhance professionalism among takaful personnel and promote ESG.
The Moroccan insurance sector has generated a net profit of MAD3.1bn ($312.5m) in the first half of 2024, 3% higher compared to the corresponding half in 2023, according to data from the Insurance and Social Welfare Supervisory Authority (ACAPS). This performance was due to improved technical results.
The market share of locally incorporated insurance companies in the UAE increased to 73.3% in 2023 from 71.4% in 2022, in terms of gross written premiums, according to the "Annual Statistical Report for the Insurance Sector of the UAE 2023" released by the Central Bank.
The combined net profit of the 75 life insurance companies totalled CNY136.49bn ($19.1bn) in the third quarter of this year, a surge of 1070.69% or by 10 times, compared with CNY11.66bn in the corresponding quarter in 2023.
CITIC Prudential Life Insurance (CPL) has announced that its two shareholders will each increase their capital in the joint venture by CNY1.25bn ($175m). This means a total increase of CNY2.5bn for CPL.
While the vast majority (82%) of respondents a health awareness study in the Greater Bay Area (GBA) express a readiness to "make an effort" to stay healthy, their actions do not always match their words.