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).
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.
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.
Wafa Assurance has posted MAD11.6bn ($1.13bn) in consolidated turnover in 2022, an improvement of 18.9% over 2021. It outperformed the Moroccan insurance market whose turnover improved by 9.3% to MAD54.9bn in 2022.
Kenya's insurance sector is on track towards full recovery and is poised to record positive growth in the next five years, according to industry experts.
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.
The head of the Insurance Brokers Association of Ghana (IBAG) has said that it is time for the industry to re-strategise their business model to avert a possible funding crisis arising from their participation in the Domestic Debt Exchange Programme.
Claims numbers from the the Auckland Anniversary Flood and Cyclone Gabrielle events will be somewhere in the vicinity of the claim volume experienced from the Canterbury Earthquakes, according to Mr Mark Jones, chief broking officer of the Crombie Lockwood, one of New Zealand's leading insurance broking companies.