The Turkish insurance sector has faced extremely challenging conditions in recent years, characterised by high inflation, severe currency devaluation, and natural catastrophes, but it has maintained strong revenue growth, robust returns on equity (ROE), and steady improvements in shareholders' equity, notes S&P Global Ratings (S&P).
The insurance sector could potentially tap into a range of emerging sectors as new technologies and industries create risks that have yet to be fully priced, according to new research from McKinsey.
Zhibao Technology announced that its reinsurance subsidiary, Zhibao Labuan Reinsurance Company (Zhibao Labuan Re), is expanding its operations into Hong Kong and Southeast Asia.
Miller, an independent specialist (re)insurance broker, has continued its expansion into Asia with the launch of Miller Malaysia.
The authorities have formed a specialised technical committee for pricing coverage offered by the Saudi Pool for Marine War Risk Insurance, according to Mr Tariq bin Ali Al-Fayez, Chairman of the National Insurance Committee at the Federation of Saudi Chambers.
Hong Kong has unveiled the Hong Kong Special Administrative Region's first Five-Year Plan for Economic and Social Development for 2026-2030, setting out the city's strategic direction for economic and social development over the medium to long term. This was announced by Hong Kong Chief Executive John Lee on 16 September.
Growing fragmentation of the global financial system could amplify shocks across insurance markets if it coincides with broader asset market stress.
Pakistan's Securities and Exchange Commission of Pakistan (SECP) has proposed tighter regulatory controls for insurers providing guarantees linked to government contracts, construction, procurement and trade.
IAIS Executive Committee's Toshiyuki Miyoshi sets out how the standard-setter is responding to a converging set of risks, from AI and geopolitics to alternative assets on life insurers' balance sheets.
Willis Re has appointed Mr Neil Eckert as CEO Chief Executive Officer. He will join the company upon completion of his current contractual obligations.