Emirates Insurance Co (EIC) will maintain its competitive position, premium growth trend, and positive underwriting performance, says S&P Global Ratings (S&P).
The UAE insurance sector continued to grow in 1Q2024, reflected by the increase of 18.5% year on year in gross written premiums to AED21.1bn ($5.7bn), according to the "Quarterly Economic Review June 2024" published by the Central Bank of the UAE.
Korean insurers are expected to sustain their profitability through continued growth in new contractual service margin (CSM), says Fitch Ratings.
The GST Council of India, chaired by Finance Minister Ms Nirmala Sitharaman, has clarified that no tax will be levied on co-insurance premiums and reinsurance commissions under the GST law.
The costliest home burglary claims in New Zealand arise from the theft of water heating systems, new AMI data reveals.
Arch Insurance (Arch) has appointed Ms Amanda Seng as Southern Region property underwriting manager, a newly created role. In her new role, she will be responsible for managing the underwriting activities across Arch's property portfolio for the Southern Region. She will also oversee product development.
The leaders of three major Japanese non-life insurers apologised at their respective general shareholders' meetings on 24 June over scandals rocking the industry.
The Insurance and Private Pension Regulation and Supervision Agency (SEDDK) has expanded the scope of coverage of building completion insurance, which was introduced in 2015.
Insurance companies in China had received 18,400 claims related to rain-caused damages as of 12pm on 23 June.
Material changes to the shareholding structure of Income Insurance could ultimately weaken the likelihood of support from the Singapore government through NTUC Enterprise Co-operative, the majority shareholder of Income Insurance, said S&P Global Ratings (S&P).