The IRDAI is allowing general insurers to design new and customised products for fire and allied perils related to dwellings, micro and small enterprises, in its bid to increase insurance penetration and provide a wider choice to policyholders.
Samsung Life Insurance, South Korea's top life insurer, has disclosed that its 1Q2022 net profit plunged by 72.9% due to losses in its variable life insurance business amid recent stock market volatility.
Munich-headquartered global insurer Alliianz has announced that its net income attributable to shareholders stood at EUR0.6bn ($0.62bn) for 1Q2022, down 78.1% from the corresponding quarter in 2021.
The Financial Services Council of New Zealand (FSC) in its submission on the proposed New Zealand Income Insurance Scheme (NZIIS) has called for more time and wider industry engagement to ensure that the scheme is best placed to achieve its objectives.
General insurance is becoming a commodity, says Mr Nizar Juma, chairman of Jubilee Holdings, an investment holding company primarily operating in the regional insurance sector.
Total net written premiums (NWP) increased by 8.2% to SAR34.6bn ($9.2bn) in 2021 from SAR31.99bn in 2020, according to "The Saudi Insurance Market Report 2021" released last week by the Saudi Central Bank (SAMA).
Qatar's insurance companies witnessed robust growth in net premium, while their net claims declined steeply in the first quarter of 2022, according to data released by the Qatar Central Bank (QCB).
A common theme that increasingly pervades all three sectors of the insurance industry - general insurance, life insurance and health insurance - is the affordability and availability of insurance, Mr Wayne Byres, APRA chairman.
For the first time, the Securities and Exchange Commission of Pakistan (SECP) has forwarded suggestions to provincial governments to introduce fiscal measures to promote the insurance sector.
Insurance group Fidelidade Macau has posted a net profit of MOP42.2m ($5.2m) for 2021, representing a growth of 24% when compared with 2020.