Ghana has been unable to upscale the newly set-up Agricultural Insurance Fund even though the pool started well, according to Mr Kofi Andoh, the acting Commissioner of Insurance.
The rapid development of new energy vehicle (NEV) insurance in China brings in new requirements for the country's motor insurance brokers. The traditional motor insurance brokerage model, which relies solely on providing basic intermediary services, has become insufficient to meet market demands. Facing this challenge, motor insurance brokers need to undergo self-innovation and actively involve in digital transformation.
Lockton, the world's largest privately-owned insurance brokerage, has expanded its Australian footprint and opened an Adelaide office.
Peak Re has appointed Mr David Menezes as chief risk officer. His responsibilities include ensuring regulatory and legal compliance, a comprehensive understanding of risks and exposures and safeguarding the company's financial strength. He joined Peak Re in 2016 and has been serving as deputy chief risk officer since 2022.
Chedid Re Global Operations, the reinsurance broker network of investment group Chedid Capital, has appointed Mr Vincent Vandendael as independent non-executive director.
China's Ping An Insurance is considering issuing a convertible bond worth up to $5bn, reported Reuters quoting two sources with direct knowledge of the matter.
The Institute of Risk Management (IRM) has appointed Ms Victoria Robinson as head of partnerships for Asia. In her new role, she will actively engage with stakeholders to drive IRM's efforts to expand its presence and impact across the region.
Nat CATs are becoming frequent and severe because of climate change. The Philippines, having been identified as one of the most vulnerable countries to the effects of climate change, is at the forefront of facing these threats. The rising sea level and extreme weather events are just some of the challenges the country faces.
African countries saw 15 credit rating downgrades and only 4 upgrades to their sovereign bonds last year, says leading specialty (re)insurance group Chaucer in a blog.
The Financial Supervisory Commission (FSC) will introduce an additional phase of localisation and transitional measures in the adoption process of TW-ICS (Insurance Capital Standard), to facilitate insurers' smooth integration of the TW-ICS that is to be implemented with effect from 2026.