Australia's Federal Court has ordered Hollard Insurance Partners (Hollard) to pay a A$2m ($1.4m) penalty after the insurer admitted to serious claim-handling failures that left a Victorian family living in appalling conditions, with their home ultimately deemed a total loss.
HDI Global has appointed Mr Kimura Kei as General Manager, Distribution and Marketing of its Japan branch.
Africa's non-life insurance market is less concentrated than life, with six markets posting gross written premiums of over $1bn, against three in life, according to the African Insurance Organisation in its Annual Report 2026.
Turkiye has taken over the presidency of Turkic World Insurance Union (TWIU), with Mr Atilla Benli elected as the President.
Shinhan Financial Group has signed a stock purchase contract to acquire a 77.04% stake in Lotte Non-Life Insurance from JKL Partners for KRW693.3bn ($515m), marking a major move to expand its non-banking portfolio and elevate its standing in South Korea's non-life insurance sector.
AM Best maintained its stable outlook for Indonesia's non-life insurance market, citing steady economic conditions, expanding premiums and new initiatives designed to fortify the sector's financial health.
The Hong Kong government's first Five-Year Plan, unveiled in September 2026, offers several opportunities for insurers, according to S&P Global Ratings' Associate Director, Insurance Ratings, Ms Judy Chen.
The Turkish property and casualty (P&C) market's return on equity (ROE) will remain robust at above 30% over the next two years, said S&P Global Ratings (S&P). The ratio consistently exceeded 40% over the past three years as investment income, led by high interest rates, and revaluation gains offset marginal underwriting losses.
Al Buhaira National Insurance Company (ABNIC) has appointed Mr Ahmed Khalifa as CEO, following the Central Bank of UAE's non-objection, according to a company disclosure filed with the Abu Dhabi Exchange.
The United Nations Development Programme (UNDP) and Generali Central, representing the Generali Group's general and life insurance businesses in India, have launched an Insurance Innovation Challenge to identify and scale solutions that strengthen the resilience of India's micro, small and medium-sized enterprises (MSMEs).