The insurance industry stabilised in 2023 following muted natural catastrophe events and the positive effects of strategic initiatives implemented by insurers over the last few years to moderate risk exposures, such as premium rate increases and underwriting limitations, according to KPMG South Africa.
Financial Services Authority (FSA) chairman Dr Saeed Mohammed Ahmed Al Saqri has approved a regulation on co-insurance in the health insurance branch pursuant to the Insurance Companies Law.
Members of the Association of Insurers and Reinsurers of Developing Countries are meeting at the 23rd AIRDC International Conference in Thailand, the first time that the southeast Asian country is hosting the event (AIRDC 2024).
Manulife is integrating GenAI with agent operations in Singapore and enhancing capabilities in contact centres and underwriting processes.
CCR Re has appointed Ms Vaibhavi Mehta as director of underwriting (life). She has over 17 years of experience in reinsurance and consultancy.
Finance Minister Nirmala Sitharaman has launched a long-term savings programme for children called the NPS Vatsalya scheme.
The destructive typhoon Yagi caused severe damage to 26 provinces and cities in northern Vietnam, including key economic zones like Hai Phong, Quang Ninh and Hanoi. These areas host significant industries, contributing 25.81% of GDP and 17.27% of Vietnam's export value, according to FiinGroup.
The combined insurance revenue of listed companies and foreign branches saw a 19% surge to AED42.4bn in 2023, compared to AED35.5bn in 2022, under IFRS 17, according to an analysis by Badri Management Consultancy, an international company offering actuarial services, financial services, Strategic HR consulting, data management and business intelligence.
The UAE Ministry of Finance has updated its exemptions list for VAT payments, including group medical insurance costs.