MSIG Asia has appointed Mr Alexander Liu as vice president. He also serves as cyber underwriter. In his new role, he will lead MSIG's efforts in advancing cyber and financial lines offerings and supporting sustainable growth across the region.
Dubai Insurance Company (DIN), one of the UAE's biggest insurers, has a strong record of underwriting profitability and reported a net insurance service result of AED123m ($33.5m) in 2023 (2022: AED76m) and a combined ratio of 86% (2022: 80%) under IFRS17, says Fitch Ratings.
Jeddah-headquartered Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a Shariah-compliant multilateral insurer and a member of the Islamic Development Bank (IsDB) Group, has entered into several agreements at the AMAN Union's 14th Annual General Meeting in Algiers held on 1-3 December.
Zking Property & Casualty Insurance Co (ZKI) continued to reduce riskier guarantee insurance business that is susceptible to domestic economic conditions, says Fitch Ratings.
Bundling agricultural credit with agricultural insurance has emerged as a promising strategy to mitigate climate-related lending risks related to smallholders, according to researchers.
The underwriting performance of Seoul Guarantee Insurance Company (SGI) is expected to normalise from 2025 with a gradual interest-rate cut, says Fitch Ratings.
The composite insurance rate in the third quarter of 2024 decreased by 2% in the IMEA region, where rates for large and complex organisations are often driven or influenced by the reinsurance market, according to the "Global Insurance Market Index" published by the world's biggest insurance broking group Marsh.
Insurance rates in the Pacific region, dominated by the Australian market, dropped by 6% in the third quarter of 2024, according to the "Global Insurance Market Index" published by the world's biggest insurance broking group Marsh.
Composite insurance rates in Asia declined by 4% in the third quarter of 2024, following a dip of 3% in 2Q and 2% in 1Q2024, according to the "Global Insurance Market Index" published by the world's biggest insurance broking group Marsh.
Asia Pacific insurers are reducing their exposure to equity or credit risks, while increasing capital allocations to diversified business growth, says Mr Frank Yuen, VP senior credit officer at Moody's Ratings.