The West African Insurance Companies Association (WAICA) has stressed the need for the harmonisation of insurance regulation and education to strengthen regional cooperation and build a vibrant insurance market in the West African sub-region.
The sales of insurance policies directly by insurance companies still dominate the Saudi insurance market, as the percentage of policies sold through insurers was around 50.3% in 2023, compared to 46.1% through insurance brokers and 3.6% by insurance agencies.
A new global survey of 1,800 supply-chain leaders has revealed that average response time for supply chains to respond to disruptions is five days, hindering progress on resiliency and risk mitigation.
In Asia, one in three business leaders reported that political risk was the biggest threat to their business this year.
The World Bank's board of executive directors has approved an $80m development policy credit for Nepal to strengthen the stability of the financial sector, including the insurance industry.
GX Bank Berhad (GXBank), Zurich General Insurance Malaysia and Zurich Life Insurance Malaysia have formed a 10-year exclusive bancassurance tripartite partnership to co-create micro protection products for underserved Malaysians.
The Tunisian Insurance and Reinsurance Company (STAR), Tunisia's biggest insurer, has announced that its net profit fell by 15.47% to TND26.97m ($8.64m) in 2023 from TND31.90m in 2022, according financial statements lodged with the Tunis bourse.
Insurance industry doyen and a founding editor of Asia Insurance Review Reynaldo de Dios passed away on 5 May 2024. He was 96 and had played an integral role in the insurance sector for 75 years.
Triple P Capital, leading a group of investors, has completed the acquisition of an 85% stake in MAA General Assurance Philippines (MAAGAP) from MAA Group.
Ongoing economic development and rapid urbanisation will result in further accumulation of infrastructure and private assets that need to be insured, including against natural catastrophe risks, says Swiss Re Institute (SRI).