Economic unrest is expected to threaten security in Asia Pacific more than anywhere in the world and on par with Sub-Saharan Africa according to the first edition of World Security Report published by the British multinational security company G4S.
The Ministry of Corporate Affairs is looking at making relevant changes to the Insolvency and Bankruptcy Code (IBC) to classify insurers as financial creditors in case of default of infrastructure projects, to grow the surety bond business.
The rates for directors and officers liability insurance (D&O) have stabilised for most corporate clients as the hard market conditions continue to ease, says the New Zealand insurance broker, Crombie Lockwood.
The surety insurance bond market is yet to take off in India due to unaddressed risks and the absence of market makers, according to The Infravision Foundation (TIF), an independent think-tank.
A lot of work has still to be done so that the insurance market in Algeria can reach its full potential, estimated at between $5bn to $8bn annually, higher than the current $1bn, Mr Hassen Khelifati, CEO of Alliance Assurances, has said.
AIA NZ has announced a collaboration with Smartshares, an investment funds manager in New Zealand and a subsidiary of NZX, to ensure a seamless and cost-efficient transition of the insurer's $500 million unit-linked policy portfolio into SuperLife funds.
Seoul Guarantee Insurance (SGI), South Korea's only guarantee insurance company, will go public on 3 November, the first state-run company to do so in 13 years.
The Minister of Human Resources and Emiratisation, Dr Abdul Rahman Al-Awar, has announced that 70% of the country's workforce, citizens and residents, are now enrolled in the unemployment insurance scheme.
Insurers in Australia need to raise the cyber security bar to achieve cyber resiliency according to the Australian Prudential Regulation Authority (APRA).
The Saudi Central Bank (SAMA) has given a licence to the Saudi Mortgage Guarantee Services Company "Dhamanat", a company owned by the Real Estate Development Fund, to provide general insurance and protection and savings insurance services.