The Insurance Association of China (IAC) and the China Automobile Maintenance & Repairs Trade Association (CAMRA) have issued jointly a standard covering the repairs and replacement of common spare parts for vehicles involved in accidents.
Premiums issued by insurance and reinsurance companies in Morocco reached MAD17.24bn ($1.73bn) in the first quarter of 2024, an increase of 1.8% compared to the corresponding quarter of the previous financial year, according to the Insurance and Social Security Supervisory Authority (ACAPS).
The insurance market in Singapore continued to adjust to the evolution of risk over the past 12-24 months, noted Aon, a leading global insurance broking company.
The UAE general insurance industry is set to grow at a compound annual growth rate (CAGR) of 4.7% from AED37.8bn ($10.3bn) in 2024 to AED45.5bn in 2028, in terms of gross written premiums (GWP), forecasts GlobalData, a data and analytics company.
Vehicle owners have been complaining about the refusal of insurance companies to write off, as total losses, vehicles that had been damaged in recent floods.
Electric vehicle (EV) insurers in China chalked up a combined ratio of above 100% in 2023, and the growing share of EV premiums in total motor business pushed the combined ratio of the branch higher, noted Swiss Re Institute.
Korea's insurance market has seen a lot of growth and innovation over the past few years, but there is still work to be done to improve the underlying health of the industry. Munich Re's Messrs Roland Eckl and Michael Hauer elaborate.
The Thai General Insurance Association (TGIA) has established a working group to study insurance for electric vehicles (EVs), according to Dr Somporn Suebthawilkul, president of the TGIA and CEO of Dhipaya Group Holdings.
ALDI Australia, a supermarket chain, yesterday announced its expansion into the insurance sector with the launch of ALDI Insurance.
Global sales of electric vehicles (EVs) are growing fast and emerging as a new risk pool for the motor insurance industry, according to an "Economic Insight" report published by Swiss Re Institute.