The fierce competition whipped up around this year's Middle East Insurance Industry Awards has resulted in a list of finalists comprising a total of 55 insurers, brokers, risk managers, service providers and industry leaders.
Tree Digital Insurance Agency has launched the first pet insurance service in Saudi Arabia, to meet the needs of pet owners and to add innovation to the digital insurance market.
The insurance industry in Oman is grappling with increasing challenges due to the amplified impact of Expected Credit Losses (ECL), as insurers adopt IFRS 17 and as credit risks increase, according to Badri Management Consultancy, an international company offering actuarial, risk management, and consulting services.
The Insurance Council of New Zealand (ICNZ) is backing calls to speed up adaptation to climate change.
The domestic non-life business of Japan's biggest general insurance company, Tokio Marine & Nichido Fire Insurance (TMNF), is expected to benefit from ongoing rate hike initiatives in key business lines, says AM Best.
People's Insurance's expansion into non-motor lines, such as fire and marine, is expected to support its long-term diversification, but motor insurance will remain dominant in the medium term, even though its contribution has been falling, says Fitch Ratings.
Turkiye's Compulsory Disaster Insurance scheme (ZAS) is set to be launched officially at the beginning of 2025.
S&P Global Ratings (S&P) says in a new report that it expects rated insurers can mitigate the risk arising from the increase in natural catastrophe-related claims through underwriting actions.
Global reinsurance giant, Hannover Re, anticipates prices and conditions to remain on a sustained stable level for treaty renewals in property and casualty reinsurance as at 1 January 2025 and anticipates a balance of supply and demand in most markets.
Higher property values, urbanisation and rising repair costs due to inflation are expected to drive demand for property (re)insurance, especially in areas with intensifying natural catastrophe risks, said Swiss Re.