The Algerian government will prohibit cash payments in the insurance, real estate, and automobile sectors in a fight against moneylaundering, tax evasion, and other black market activities.
The technical performance of Al Dhafra Insurance Company (ADIC) has started to return to historical averages as evidenced by a net-net combined ratio of 86%, as calculated by AM Best, reported for the first three quarters of 2024.
The performance of Korean life and non-life insurers in 2025 is expected to be stable, with the sector outlook,'Neutral', says Fitch Ratings.
Charles Taylor, a leading international loss adjusting business, has announced a new associateship with Carter Briggs Hurle (CBH) Adjusting in New Zealand which will extend the regional coverage available to clients who require expertise for the assessment and resolution of large and complex claims in Australasia.
The Indonesian government's plan to increase the Value Added Tax (VAT) from 11% to 12% starting in January 2025 will affect the bottomline of the sector, according to the chairman of the Indonesian General Insurance Association (AAUI) Mr Budi Herawan.
Top-line growth in Saudi Arabia's insurance sector will moderate to about 10%-15% in 2025, after strong growth since 2022 and a 17% increase in insurance revenue in third-quarter 2024, forecasts S&P Global Ratings (S&P).
The UAE insurance industry's profit before tax increased by 8%, reaching AED2.0bn ($545m) in the first nine months of this year, from AED1.8bn in the corresponding period in 2023, points out Badri Management Consultancy which specialises in actuarial services.
The National Assembly's Standing Committee on Commerce has urged Pakistan National Insurance Company Limited (NICL) and Pakistan Reinsurance Company (PAKRe) to focus on strengthening their role in the private sector and expanding public relief efforts.
Dubai National Insurance & Reinsurance's (DNI) cross-cycle operating performance is expected to remain strong, supported by its stringent underwriting and prudent risk selection, said AM Best.
Zheshang Property and Casualty Insurance Company (Zheshang Insurance) turned profitable in 2023, and earnings continued to expand in the first nine months of this year (9M2024) on better underwriting performance, notes Fitch Ratings.