The Federal government has initiated a strategy to ensure that millions of uninsured Nigerians would have financial protection.
The net profits of insurance companies operating in Bahrain fell by 43.5% to BHD15.78m ($41.87m) in the first half of 2024, compared to BHD27.91m in the corresponding period of 2023, according to the "Insurance Market Review June 2024", released by the Central Bank of Bahrain earlier this month.
The Insurance and Social Welfare Supervisory Authority is preparing to launch a strategic study to review the mutual insurance sector in Morocco.
The Protection Gap Study 2022, published by the Life Insurance Association Singapore (LIA) in 2023 enhanced understanding of challenges faced by different segments of society, providing insights on where there are opportunities to support the community in bridging their underinsurance gaps, according to Life Insurance Association, Singapore executive director Chan Kit Wai.
Singapore's life insurance industry recorded a total of S$4.3bn ($3.2bn) in weighted new business premiums for YTD3Q2024, an increase of 23.5% compared to the corresponding period last year, according to the Life Insurance Association, Singapore (LIA Singapore).
The Financial Services Authority (OJK) has said that there has been a shift in the life insurance portfolio mix, with endowment policies contributing the biggest share to the sector, taking the crown from unit-linked products.
Thirty-one out of 36 (or more than 85%) life insurers have accumulated outstanding claims amounting to BDT36.43bn ($305m) over the past five years, according to data from the Insurance Development and Regulatory Authority (IDRA).
The insurance market in Uganda reported gross written premiums of UGX933.8bn ($255m) in the first half of 2024, according to a report released by the Insurance Regulatory Authority (IRA).
Insurers are increasing health insurance premiums by around 150% this year, following a 200% rise last year, according to local media reports.
The life insurance market in Malaysia is forecast to reach $17.2 billion direct written premiums (DWP) in 2028, garnering a compound annual growth rate (CAGR) of 5.2% from 2024 to 2028, GlobalData results showed.