The Kuwaiti insurance market reported total premiums of KWD629.9m ($2.96bn) for the financial year ended 31 December 2022, according to industry data.
The motor insurance market in the UAE saw a fall in profitability in 2022 due to higher loss and commission ratios, note the international independent risk management, benefits and technology company Milliman in a report released earlier this month.
The Egyptian insurance sector collected premiums totalling EGP56.8bn ($1.84bn at current exchange rates) for the full year of 2022, according to data released by the Financial Regulatory Authority (FRA). This represents growth of 15.9% over 2021.
Demand for insurance in Vietnam is expected to continue to grow in 2023 because of higher awareness and the growth momentum in the economy. The GDP is expected to grow by 6.5%.
Tunis-headquartered Assurances Maghrebia, a private insurance and reinsurance company in Tunisia, has announced that its net profit increased by 6% to TND23.36m ($7.5m) for the financial year ended 31 December 2022.
The insurance sector saw total written insurance premiums increase to AED47.2bn ($12.8bn) in 2022, 6.5% higher than the AED44.3bn recorded in 2021, according to statistics released by the Central Bank of the UAE (CBUAE).
Companies are lagging in tracking supply chain emissions and risk missing forthcoming regulations on nature according to the global non-profit disclosure platform CDP.
Growth opportunities abound for insurers looking to enter or expand in the emerging markets of South and Southeast Asia. Seizing them demands long-term commitment, prudent risk management, and agile execution, says S&P Global Ratings.
The net income of the insurance market in the Philippines dipped by 2.25% to PHP46.68bn ($859m) in 2022 from PHP47.75bn, data released by the Insurance Commission (IC) show.
Some body corporates and homeowners' associations (HOAs) HOAs are unaware or have not been advised that they can cover solar panels under their existing building insurance policies, with minimal implications, says Mr Hermanus van der Linde, chief executive of short-term insurance broker Integrisure.