Australian Prudential Regulation Authority chair John Lonsdale has said during a review of the sector's cyber security the authority has discovered inadequate oversight from institutions' boards and a 'lack of rigour' in testing security controls.
The 93 member strong Institutional Investors Group on Climate Change (IIGCC) is pressurising major corporates to publish their viable net zero transition plans as a part of its net zero engagement initiative that aims to support investors aligning their portfolios with the goals of the Paris Agreement.
Hong Kong-based Peak Reinsurance has reported gross written premiums (GWPs) of $2,294.5m (FY2021: $2,144.7m) and a net loss of $79.8m for 2022 (FY2021: net profit of $73.2m), according to the consolidated financial statements of its parent company, Fosun International.
China Taiping Insurance Holdings has announced that its reinsurance business produced a net operating profit after tax of HK$61.4m ($7.8m) in 2022, a resounding jump of over 500% over 2021.
SALAMA Islamic Arab Insurance, the leading takaful company in the UAE, says that its revitalised investment strategy has resulted in the group's investment income rising to AED40.66m ($11.07m) in 2022 from AED18.43m in 2021.
Insurance companies in India have experienced a rise in cases of fraud, within the life and health insurance categories, according to Deloitte's Insurance Fraud Survey 2023.
Thirty five investors managing more than $5.7trn of assets have put together a new alliance to finance "healthier and fairer societies".
After two years of decline, a broad-based acceleration in global business insolvencies is expected. According to Allianz Trade, global business insolvencies should rise both in 2022 (+10%) and 2023 (+19%).
The current economic turmoil is leading to widespread underinsurance for businesses in the UK according to a new research.
Chinese insurers are shifting their investment allocations and are focused on increasing those that are ESG compliant. The insurers currently have a preference to manage their assets internally or through affiliated insurance asset management companies, according to an in-depth CIO survey released by JP Morgan Asset Management and Insurance Asset Management Association of China.