Sixty unlisted life insurance companies in China posted a combined net loss of CNY3.40bn for the first quarter of this year, according to data compiled from their 1Q2024 solvency reports.
India's life insurance industry is set to grow at a compound annual growth rate (CAGR) of 10% to INR13.5tn ($216.1bn) in 2028 from INR9.3tnin 2024 in terms of gross written premiums (GWP), forecasts GlobalData, a leading data and analytics company.
The pre-tax profit of insurance companies in Taiwan for the first three months of this year stood at NT$105.3bn ($3.25bn), according to data released by the Financial Supervisory Commission (FSC).
Actuaries in Africa are eschewing the use of old mortality tables from other countries in favour of creating their own applicable ones, according to an article in the May 2024 edition of The Actuary, a publication of the London-headquartered Institute and Faculty of Actuaries (IFOA).
The Moroccan insurance sector improved its profitability in 2023, achieving a net profit of MAD4.5bn ($448.4m), an increase of 5.8% over 2022, according to the Insurance and Social Welfare Supervisory Authority (ACAPS).
The London-headquartered Institute and Faculty of Actuaries (IFoA) is holding its inaugural Middle East Conference this month with two events - in Riyadh and Dubai.
Fidelity Life, New Zealand's largest independent life insurer, has launched a promotional campaign offering three months of free premium coverage to new clients.
Moody's Ratings says that its outlook for South Korea's (Aa2 stable) life insurance industry is stable, reflecting the global credit agency's expectation that growth in contractual service margins (CSM), driven by a focus on protection products, will support capitalisation and profitability, and prudent investment strategies will underpin stable asset quality at life insurers in the next 12-18 months.
More than half (52%) of the respondents to a survey say that their personal health insurance premiums increased by over 25% in the last 12 months.
The government will not compel insurers to appoint a panel that can override their decisions on providing insurance coverage for disabled and neurodivergent persons, according to Mr Lawrence Wong, deputy Prime Minister and Minister for Finance, and chairman of MAS.