Insurance business in the low-altitude economy is expected to take off as demand grows for related services and regulations are gradually improved which facilitates growth.
Sunlight Agricultural Mutual Insurance (SAM) is highly exposed to catastrophe risk in Heilongjiang province, particularly flooding and drought, given its high business concentration in agricultural insurance and Heilongjiang, says Moody's Ratings.
Ping An Insurance (Group) Company of China (Ping An) has announced that its net profit attributable to shareholders stood at CNY36,709m ($5,071m) in the first quarter of this year, a fall of 4.3% compared to the corresponding quarter of 2023.
Apart from outlining the main goals of green insurance development on both the asset and liability sides, the National Financial Regulatory Administration (NAFR) has spelt out the specific responsibilities of insurers in green insurance development.
Consumers in China rank health risk protection as their first priority in insurance purchases, leading to critical illness (CI) insurance being the product with the highest ownership rate in 2023.
Insurance rates in the first quarter of 2024 in Asia declined 2% after being flat for the three prior quarters, according to the "Global Insurance Market Index" published by the world's biggest insurance broking group Marsh.
Renowned for their friendly temperament and loyal disposition, Labradors, Cavoodles, and Golden Retrievers came out on top as the most popular canine companions insured in terms of volume, according to Southern Cross Pet Insurance.
Malawi, Mozambique, Zambia and Zimbabwe are likely to receive insurance payouts from African Risk Capacity (ARC) as they are severely affected by the current drought, according to early projections from ARC's season monitoring tools.
The Ministry of Culture and the Insurance Authority are working together on a project to insure historical buildings.
Peak Re has expanded its structured solutions team. The newly-created team will operate independently and maintain a close working relationship with Peak Re's P&C and L&H business teams.