One of the most notable transformations in the UAE insurance market in recent years has been the growing awareness of insurance and the realisation that insurance is more than just purchasing a policy, according to Union Insurance's CEO, Mr Ramez Abu Zaid.
The biggest challenge in Egypt's life insurance market is the low penetration rate, which stands at less than 1%, participants at a workshop on life insurance and reinsurance have learnt.
Most people who work in insurance do so because they care about people, according to QBE Asia CEO Rob Kosova.
To increase long-term participation, Vietnam will introduce new social insurance laws from 1 July.
As populations across Asia continue to age rapidly-particularly in markets like Hong Kong, Singapore, Japan, Korea and even in mainland China-the insurance industry finds itself at a critical juncture. A recent roundtable hosted by Verisk gathered industry experts to examine the multifaceted impacts of ageing and rising chronic illnesses on healthcare and insurance, and how these challenges could reshape the sector in the next decade.
Tata AIA Life Insurance has launched two new funds - Tata AIA Top 200 Alpha 30 Index Fund and Tata AIA Top 200 Alpha 30 Pension Fund - providing opportunity to grow wealth and secure future through life insurance-linked investment products.
Hanwha Group has appointed Mr Kwon Hyuk-woong, former vice chairman of Hanwha Ocean and Mr Lee Kyung-geun, president of Hanwha Life Financial Services as individual representatives of Hanwha Life Insurance, according to Maeil Business Newspaper. The article also noted that Mr Yeo Seung-joo, Hanwha Life Insurance vice chairman, was appointed head of Hanwha Group's management support office.
With the pending acquisition of Resolution Life by Nippon Life, and its eventual merger with Acenda, several independent non-executive directors have been appointed to the board of the Acenda Group, according to news platform Financial Newswire. Namely, they are Ms Catherine Dubé, Mr David Stephen, Ms Melissa Babbage and Ms Rosheen Garnon.
The Insurers Federation of Egypt (IFE) has said that traditional actuarial models are no longer sufficient in light of accelerating geopolitical changes. It has become necessary to introduce additional premiums under the "geopolitical risk" clause and reduce coverage in conflict zones.
The Financial Services Authority (FSA) is preparing for the launch of the second phase of the National Health Insurance Platform "Dhamani" scheme.