The East African insurance sector, still dominated by non-life insurance, has been on a rising trajectory, despite macroeconomic and geopolitical challenges in the region, says the global professional services firm, Deloitte.
The insurance sector in Morocco recorded a record half-yearly turnover of MAD32.7bn ($3.3bn) in 1H2024, growing by 5.2% compared to the first six months of 2023, according to data published by the Moroccan Insurance Federation.
Pru Life UK has rolled out a short-payment term investment-linked insurance product for Filipinos looking for alternative ways to grow their resources.
The Malaysian government has proposed increasing the individual income tax relief for medical expenses up to MYR10,000 ($2,318), which also covers medical and health insurance plans with co-payment features.
Japanese general insurance giant Tokio Marine has paused the sale of its $1bn Southeast Asia life insurance business, partly due to a dispute with a Malaysian partner over an expiring bancassurance agreement, four sources with knowledge of the matter said.
The combined insurance service results of listed insurance companies in Oman plunged by 85% to OMR2.6m ($6.8m) for the first nine months of this year from OMR16.9m for the corresponding period in 2023, according to an analysis by Badri Management Consultancy.
Four of the five largest "A"-share listed insurance companies in China have issued profit estimates for the first nine months of this year, with year-on-year increases of at least 60%.
China's five largest listed insurance companies in the 'A'-share market posted a combined total premium income of CNY2.38tn ($334.2m) in the first three quarters of this year, rising by 5.79% compared to the corresponding period of 2023.
Private health insurance is the top choice of 86% of mainland Chinese seniors who were polled in a survey on the needs of ageing consumers in Asia.
On EAIC Insurance Day, which falls every year on 18 October, the general secretary of the East Asian Insurance Congress (EAIC) , Mr Masayuki Tanaka has sounded the need to raise awareness of bio-diversity loss in Asia.