Despite the low insurance penetration in Uganda, there is a growth potential in the market that can be tapped by various industry players, according to the international professional services firm Deloitte.
Growth prospects for the insurance sector remain plentiful in the insurance markets of the Gulf Cooperation Council (GCC), said global credit rating agency AM Best.
Insurance companies are willing to insure industrial and commercial facilities that take risk mitigation measures, according to Minister of State for Financial Affairs Mohammed bin Hadi Al-Husseini.
Fraud in the motor insurance branch is estimated to cost insurers 4% to 5% of overall turnover in Morocco's insurance sector.
The insurance industry in New Zealand is moving towards greater use of risk-based pricing for residential dwelling insurance, meaning that the value of insurance premiums is more tailored to the specific risks a property faces (e.g. seismic or flood), according Reserve Bank of New Zealand financial stability assessment and strategy director Kerry Watt.
Overall, Shinkong Insurance Company's underwriting profitability and return on equity have consistently outperformed the industry average over the past five years, AM Best said.
insureKU, an end-to-end digital insurance and takaful aggregation platform, has received received Bank Negara Malaysia's approval to begin operations.
A common insurance market in West Africa will lead to important prospects as well as bring about cost savings, among other benefits to the population, according to Mr Mamadi Dampha, deputy permanent secretary at the Ministry of Finance and Economic Affairs.
Insurance rates in the first quarter of 2024 declined 2% in the IMEA region, where rates for large and complex organizations are often driven or influenced by the reinsurance market, according to the "Global Insurance Market Index" published by the world's biggest insurance broking group Marsh.
Dubai International Financial Centre (DIFC), the leading global financial hub in the Middle East, Africa and South Asia (MEASA) region, has consolidated its position as the principal hub for the (re)insurance industry, with the highest gross written premiums (GWP) recorded in its 20-year history of $2.6bn in 2023, increasing by 23% from $2.1bn in 2022.