Asia-Pacific life profitability outlook remains stable, though foreign exchange hedging costs may weigh on margins in Japan, says Swiss Re Institute (SRI) in a report on world insurance developments.
The Nigerian Insurance Industry chalked up gross written premiums of NGN1.56tn ($1.02bn) in 2024, 56% higher than the NGN1.00tn reported in 2023, according to the Nigerian Insurers Association (NIA).
The Middle East and Africa (MEA) were among the emerging insurance markets (excluding China) that exhibited above-trend growth in 2024, according to Swiss Re Institute (SRI) in a report on global insurance developments.
Total premiums in the insurance market reached JOD384m ($542m) in the first five months of the year, an increase of around 10% over the corresponding period in 2024, according to statistics released by the Central Bank of Jordan (CBJ).
AIA Hong Kong has introduced its GlobalFlexi Savings Insurance Plan, aimed at customers looking for long-term wealth growth and financial flexibility.
Overall, APAC's life insurance sector overall has a 'neutral' outlook at the moment, Fitch Ratings head of APAC insurance ratings Jeffrey Liew said at the company's media briefing.
At least 20 (re)insurers have failed somewhere in the world in every single year between 2000 and 2024, according to the third edition of the "Global Failed Insurer Catalogue" published by Property and Casualty Insurance Compensation Corporation (PACICC).
Today's insurance consumers are not only seeking more personalised and accessible insurance products, but they are also prioritising transparency and sustainability in their choices.
Foreign residents living in Japan for over three months and not covered under any health insurance scheme will now have to enrol in the country's health insurance programme, reported the Japan News.
The Saudi insurance industry has reported growth in total premium income for the first quarter of the year, while the net income saw a notable setback, according to the Insurance Authority's latest quarterly report.