Insurance and pension laws in Zimbabwe are backward, according to Mr Daniel Ndlela, a former economics professor at the University of Zimbabwe.
Some insurance companies struggling to re-assert themselves and the Association of Insurance Companies in Lebanon (ACAL) has begun to strategise how to rebuild the sector's public image, which took a beating last year.
The general insurance industry is uncertain about prospects for the current financial year which ends on 31 March 2022 (FY22).
The operating results of Taiwan's third largest non-life insurer in terms of GWP, Shinkong Insurance, remained stable and positive in 2020, supported by positive underwriting and investment results, notes AM Best.
Oman Insurance Company (OIC), one of the UAE's biggest insurers, has a track record of strong operating performance, demonstrated by a 10-year (2011-2020) weighted return-on-equity (ROE) ratio of 8.2%, notes AM Best.
Korean-owned property insurer LIG China has received approval from the Jiangsu Banking and Insurance Regulatory Bureau to change its name to Kaiben Property Insurance (China). The new name entered into effect earlier this month.
Environmental risks are becoming an increasingly important credit driver for Chinese insurers as their exposure to climate-related catastrophic events and decarbonisation policies grow, especially for property and casualty (P&C) insurers, says Moody's Investors Service.
In the first quarter of 2021, the five major listed insurance groups posted a 2.64% increase in aggregated total premium income to CNY973.2bn ($149.2bn).
The CBIRC has issued a set of draft regulations, that standardises for the first time the accident insurance business of property and life insurance companies. The goal is a unified set of rules for property and life insurers that will help prevent possible regulatory arbitrage behaviour by insurers.
Eight in 10 homeowners show little interest in spending to make their home more resilient to natural disasters, according to research commissioned by insurance, banking and finance group, Suncorp.