The Philippine Insurance Commission (IC) has issued a licence to SeaInsure Life Insurance Company, which is owned by SeaInsure PG (SeaPG), a Singaporean insurance company under tech conglomerate Sea Limited that is the holding company for Shopee, an e-retail platform.
The Insurance Development and Regulatory Authority (IDRA) has found that two life insurance companies have allowed their directors and their associated enterprises to borrow from banks against fixed deposits placed with policyholders' funds.
Singapore's life insurance industry recorded a total of S$2.63bn ($1.92bn) in weighted new business premiums for 1H2022, a slight contraction of 1.9% as compared to the corresponding period in 2021, according to the Life Insurance Association, Singapore (LIA Singapore) that yesterday unveiled the industry's results for the first six months of this year.
The monthly income of life and non-life insurance planners has declined due to the worsening of the sales environment and the deterioration of channel competitiveness caused by the COVID-19 pandemic, a research institute said.
The Australian Prudential Regulation Authority (APRA) has published its updated plan to reinforce the financial soundness of the insurance, banking and superannuation industries over the next four years 2022 to 2026.
Insurance giant Tokio Marine Holdings has announced that the group will report a loss of JPY53.9bn ($405.8m) in the quarter ending 30 September due to COVID-19 claims incurred by its insurance unit in Taiwan.
The Saudi insurance market is expected to see Gross Premium Written (GPW) grow by 5%-10% in 2022, according to S&P Global Ratings.
The Egyptian insurance sector has presented a list of priorities to Dr Mohamed Farid, who was appointed on 7 April as acting chairman of the Financial Regulatory Authority (FRA) for a term of one year.
Scientists from South Africa, Germany, France, Switzerland, New Zealand, Denmark, the USA and the UK have collaborated for a rapid scientific analysis to assess to what extent human-induced climate change altered the likelihood and intensity of the exceptional heat wave in July 2022 in UK.
Insurance companies in Taiwan reported a pre-tax profit of NT$166.9bn ($5.6bn) for the first six months of this year, with life insurers performing better than non-life companies.