Turkiye overtook Saudi Arabia as the biggest market among 13 markets in the Middle East and North Africa, according to data published by Swiss Re Institute (SRI).
State-owned Sri Lanka Insurance Life (SLICL), has declared the highest ever bonus in the Sri Lankan industry to its policyholders, amounting to SLR11.2bn($36m) for the year 2023.
Munich-headquartered global insurer Allianz, through its wholly-owned subsidiary, Allianz Europe (the Offeror), has announced a pre-conditional voluntary cash general offer to acquire at least 51% of the shares of one of Singapore's biggest composite insurers.
More than half of Hong Kong employees (52%) are struggling with their finances, according to the new survey by WTW, a leading global advisory, broking and solutions company.
Commercial banks can continue to sell investment-linked insurance products through the bancassurance channel.
The Galen Centre for Health and Social Policy, an independent public policy research and advocacy organisation based in Kuala Lumpur, says that a co-payment option in health insurance could expose households to financial catastrophe.
Life insurance premiums in emerging markets, including those in Asia, will grow by 7.2% in real terms in 2024, with just 1.5% aggregate growth in advanced markets, says Swiss Re Institute (SRI).
Asia as a whole, including Australia and New Zealand, accounted for 24.5% of global premium volume in 2023 (2022: 25.5%), says Swiss Re Institute (SRI) in its report titled "World insurance: strengthening global resilience with a new lease of life", released yesterday.
Hollard International, part of South Africa's largest privately owned insurance group, and Absa Group, one of Africa's largest diversified financial services groups, have reached agreement for the sale of Absa's insurance businesses in Mozambique, Botswana and Zambia.
Wafa Life Insurance Egypt, a subsidiary of Wafa Assurance that is one of Morocco's biggest insurers, has launched coverage for corporate clients to expand its operations.