Wethaq Takaful Insurance Company Egypt has developed an integrated plan to underwrite insurance for the oil & gas industry.
Australian managing general agent (MGA) Agile Underwriting Services has received 'in-principle' approval from Lloyd's to create Agile Syndicate 2427 (AUS 2427).
War risk premiums appear to have soared from approximately 0.1% of the value of a ship to 0.7-1%, given the perils faced by commercial ships in the Red Sea, says the Insurance Association of Turkiye (TSB).
Asia Pacific's contributions to the business of Canopius Group, a leading global specialty and P&C (re)insurer, increased to 10.6% of the total Insurance Contract Written Premium (ICWP) in 2023, one percentage point higher than 2022's 9.6%, according to financial statements released by Canopius.
Marsh staff are mourning the passing of their colleague, Ronny Vellekoop.
Insurwave has appointed Mr Ken MacDonald as advisor for its marine and specialty capabilities. As part of his new role, he will advise on bringing Insurwave's solutions across the insurance industry, with an emphasis on the marine sector.
The Hong Kong government will earmark HK$100m ($12.78m) to promote the sustainable development of financial services i the territory, according to Financial Secretary, Mr Paul Chan.
A new code of conduct for the insurance industry for using AI has been put in place. Created by a collaborative group of 127 experts, the new initiative aims to establish and uphold "the highest standards of behaviour and ethical responsibility" when planning, designing, or utilising AI in the management and settlement of insurance claims.
BMS, the independent specialist insurance and reinsurance broker, has completed its majority stake acquisition of Berns Brett Masaood (BBM), a leading UAE insurance broker established in 2007 and headquartered in Abu Dhabi and Dubai.
Bahrain-based Arab War Risks Insurance Syndicate (AWRIS) has a track record of strong operating performance, demonstrated by a five-year (2018-2022) weighted average combined ratio of 64.6% and a five-year return-on-equity ratio (ROE) of 6.7%, notes AM Best.