International actuarial consulting firm Badri Management Consultancy says that it sees growth in the profitability of the Saudi Arabian insurance market.
The combined net income of insurance companies that offer motor insurance reached KRW332.2bn ($248m) in the January-June period, down by 40.2% from KRW555.9bn for the corresponding period last year, according to the preliminary data from the Financial Supervisory Service (FSS).
The Emirates Insurance Association (EIA) has said that the prices of motor insurance policies have become balanced compared to the size of claims, after insurers raised prices within the limits set by the regulatory authorities.
Tadawul-listed Rasan Information Technology Co has announced that its subsidiary, Tameeni Electronic Insurance Broker, has obtained a no-objection letter from the Saudi Insurance Authority to sell comprehensive motor insurance for leased vehicles.
The rapid rise of autonomous vehicles in China presents a challenge to insurers who have to create new motor insurance products to keep pace with technological advancements, according to a new white paper.
As the use of e-scooters and e-bikes increases in the UAE, particularly in urban areas, insurers need to develop insurance policies for those using these personal mobility devices, according to Mr Anas Mistareehi, CEO of the insurance brokerage eSanad, which runs a digital insurance platform.
The number of insured vehicle drivers in Türkiye is expected to decrease as motor insurance premiums increase, according to the "2023 Sector Report" released last week by the Insurance Association of Türkiye (TSB).
Insurance premiums for electric vehicles (EVs) have increased at double the pace of fuel-powered cars after the heavy rains in the UAE in April 2024.
Shenzhen BYD Property & Casualty Insurance (BYD Insurance) has posted a net profit of CNY18.46m ($2.6m) on an insurance business income of CNY67.26m for the first half of this year, according to the insurer's 2Q2024 solvency report.
Nasdaq-listed SunCar Technology Group, which offers cloud-based B2B auto services and auto e-insurance in China, has announced a two-year agreement between its wholly-owned subsidiary, Shengshi Dalian Insurance Agency and SAIC Maxus Automotive Sales & Service.