A mixed outlook is expected for the Turkish insurance sector this year.
Emirates Insurance, a leading UAE based insurer and reinsurer, has announced its half-year results, showing a 53% increase to AED90m ($24.5m).
AXA Affin General Insurance has entered into a partnership with BlueDuck, an online home rental platform for house owners and tenants in Malaysia. The general insurer will provide coverage for the homes and valuables whereby the platform's members are entitled to a one-year subscription to 'AXA SmartHome Optimum (Enhanced)' protection plan.
With global economic losses from Nat CAT and man-made disasters in the first half of this year amounting to $44bn, only about $19bn or 42% of these losses were insured as several large-scale disaster events occurred in areas with low insurance penetration according to Swiss Re Institute's preliminary sigma estimates.
Ping An Insurance (Group) Co, the country's largest insurer by market value, posted a 68.1% jump in first-half net profit, the fastest pace of growth in more than a decade, on a rise in retail customers, reported Reuters.
The digital transformation of property insurance will be different from that of life insurance, say respondents to a poll on technology in insurance. They also believe that life insurance companies and property insurance companies will apply InsurTech in significantly different ways.
Four life insurers and two non-life companies, which started operations last year, have posted 1H2019 results that highlight outcomes arising from their different backgrounds.
China's three mutual insurance startups, all licensed in 2016, posted increases of over 200% in premium revenue for the first half of this year. Despite the surge in premiums, the mutuals continued to report losses.
Life insurance premiums fell by 10.3% in the first six months of this year to IDR85.65tn ($6bn), according to data from the Financial Services Authority (OJK).
The UAE Insurance Authority (IA) has said that making fire insurance mandatory insurance needs the collective efforts of several parties.