Tadawul-listed Rasan Information Technology Co has announced that its subsidiary, Tameeni Electronic Insurance Broker, has obtained a no-objection letter from the Saudi Insurance Authority to sell comprehensive motor insurance for leased vehicles.
The rapid rise of autonomous vehicles in China presents a challenge to insurers who have to create new motor insurance products to keep pace with technological advancements, according to a new white paper.
As the use of e-scooters and e-bikes increases in the UAE, particularly in urban areas, insurers need to develop insurance policies for those using these personal mobility devices, according to Mr Anas Mistareehi, CEO of the insurance brokerage eSanad, which runs a digital insurance platform.
The number of insured vehicle drivers in Türkiye is expected to decrease as motor insurance premiums increase, according to the "2023 Sector Report" released last week by the Insurance Association of Türkiye (TSB).
Insurance premiums for electric vehicles (EVs) have increased at double the pace of fuel-powered cars after the heavy rains in the UAE in April 2024.
Shenzhen BYD Property & Casualty Insurance (BYD Insurance) has posted a net profit of CNY18.46m ($2.6m) on an insurance business income of CNY67.26m for the first half of this year, according to the insurer's 2Q2024 solvency report.
Nasdaq-listed SunCar Technology Group, which offers cloud-based B2B auto services and auto e-insurance in China, has announced a two-year agreement between its wholly-owned subsidiary, Shengshi Dalian Insurance Agency and SAIC Maxus Automotive Sales & Service.
Revenue generated by the motor insurance branch is expected to outpace the growth of Saudi Arabia's overall insurance market due to ongoing efforts to reduce the number of uninsured vehicles, according to a Standard & Poor's (S&P) analyst. The overall market is expected to grow by 15-20% in 2024.
China's motor insurance branch chalked up an underwriting profit of CNY13.50bn for 1H2024, jumping by 56.8% compared to the first half of 2023, according to an analysis of the financial performance of the non-life sector.
The motor insurance branch showed that premiums rose in the second quarter of this year, compared to the first quarter.