The Gabonese Federation of Insurance Companies (FEGASA) is currently involved in a drive to establish digital technology in the insurance industry as a strategic lever for economic transformation and social inclusion.
Total premiums in Turkiye's insurance sector surged by 93% in the first half of this year to TRY90.9bn ($5.1bn) compared to the corresponding period of the previous year, according to statistics from the Insurance Association of Turkiye (TSB).
Insurance companies are expected to face huge claims for vehicles damaged by flood as a result of one of the heaviest rain storms in 80 years to hit Seoul.
Apart from the economic turmoil ravaging Lebanon, real non-life premium growth in the country is likely to remain constrained by strong competition and negative rate pressure, with insurers vying a slice of the pie in a market that is shrinking in size relative to inflation, says AM Best.
The Economic Community of West African States (ECOWAS) plans to digitise the Brown Card in all the countries of the community area.
The Egyptian Compulsory Vehicle Insurance Pool is working to help motor insurers meet the target of EGP1.3bn ($68.3m) in premium income in the current financial year ending 20 June 2023 (FY2023). This represents a targeted growth rate of 10%.
Liberty Mutual Insurance has completed its acquisition of Malaysian insurer AmGeneral Insurance (AmGeneral), a top-three motor insurer with a growing business in additional product lines.
The insurance regulator has met the top management of 26 insurance companies in a bid to resolve recent problems that have surfaced in compulsory motor third-party liability insurance (dubbed 'traffic insurance') in Turkiye.
China's insurance market grew to CNY2.85bn in terms of premium income in the first half of this year, a year-on-year increase of 5.1% on a comparable basis, according to data released by the CBIRC.