The insurance sector saw total written insurance premiums increase to AED47.2bn ($12.8bn) in 2022, 6.5% higher than the AED44.3bn recorded in 2021, according to statistics released by the Central Bank of the UAE (CBUAE).
Tunis-headquartered Assurances Maghrebia, a private insurance and reinsurance company in Tunisia, has announced that its net profit increased by 6% to TND23.36m ($7.5m) for the financial year ended 31 December 2022.
A new report released by AXA XL focuses on the impact of three types of water risks across seven sectors and provides five recommendations for businesses to manage their major water-related risks.
Growth opportunities abound for insurers looking to enter or expand in the emerging markets of South and Southeast Asia. Seizing them demands long-term commitment, prudent risk management, and agile execution, says S&P Global Ratings.
The net income of the insurance market in the Philippines dipped by 2.25% to PHP46.68bn ($859m) in 2022 from PHP47.75bn, data released by the Insurance Commission (IC) show.
AIA New Zealand has announced an enhancement to its post-claim recovery programme through a range of support options meant to increase customers' ability to get back to normalcy post-claims.
The Indonesian Life Insurance Association (AAJI) has announced that the total revenue of the sector amounted to IDR223.0tn ($14.72bn) in 2022, representing a drop of 7.5% compared to 2021, indicating that revenue was under pressure.
Wafa Assurance has posted MAD11.6bn ($1.13bn) in consolidated turnover in 2022, an improvement of 18.9% over 2021. It outperformed the Moroccan insurance market whose turnover improved by 9.3% to MAD54.9bn in 2022.
Kenya's insurance sector is on track towards full recovery and is poised to record positive growth in the next five years, according to industry experts.
The head of the Insurance Brokers Association of Ghana (IBAG) has said that it is time for the industry to re-strategise their business model to avert a possible funding crisis arising from their participation in the Domestic Debt Exchange Programme.