Samsung Property & Casualty Insurance (China) [Samsung P&C China] is expected to continue to benefit from its largest shareholder, Samsung Fire & Marine Insurance (SFM), which is South Korea's biggest general insurer.
Insurance authorities have granted approval for the establishment of a new insurance company headquartered in Suzhou, a vibrant city in eastern China. The new company, with a national licence, is registered as Dongwu Property & Casualty Insurance.
The National Financial Regulatory Administration (NFRA) is working to improve insurance services for technology-based businesses throughout their entire lifecycle, according to Mr Yin Jiang'Ao, director of the Property Insurance Supervision Department of the NFRA.
The insurance industry's total original insurance premium income reached CNY4.38tn ($622bn) in the first eight months of the year, according to data released by the National Financial Regulatory Administration (NFRA).
Insurance clinics have been launched for market traders and artisans and other informa-sector workers in the Greater Accra Metropolitan Area (GAMA) to promote insurance inclusion and penetration.
The total profits of the UAE insurance sector amounted to AED2.5bn ($681m) in 2023, compared to AED1.96bn in 2022, according to the Central Bank of the UAE (CBUAE).
The Insurance Council of Australia (ICA) has released a charter outlining the principles and key actions for addressing the challenges of extreme weather events, as well as disaster preparation, response, and recovery.
Floods and landslides triggered by recent heavy rainfall last week have caused losses of at least NPR16.5bn ($123m) across Nepal, according to Mr Eaknarayan Aryal, chief secretary of the Government of Nepal.
The National Insurance Commission (NAICOM) has expressed concerns over the impact of inflation on the insurance sector, as rising prices affect both policyholders and insurers.
The Insurance Association of Türkiye (TSB) is coordinating with all stakeholders, including the government, to forge a plan with a new vision and fresh targets for the coming decades with the main goal of raising the penetration rate.