The insurance industry in Tanzania has posted a total Gross Written Premiums (GWP) of TZS379.40bn ($146.2m) in the first three months of 2024, an increase of 13.6% compared to TZS333.8bn in the corresponding quarter of 2023, according to data released by the Association of Tanzania Insurers (ATI).
Listed insurers in the UAE generated profit before tax of AED722m ($197m) in 1Q2024, a 29% jump from the corresponding quarter in 2023, according to an analysis of the financial results of 26 companies by Badri Management Consultancy.
The Insurance Regulatory and Development Authority (IRDAI) has reportedly discussed with the CEOs of life insurance companies to do away with the high upfront commission of life insurance agents in the first year.
Taiwan life insurers are working to strengthen their regulatory capital base in preparation for stricter regulatory capital standards due in 2026, says Taiwan Ratings, which is an S&P Global company.
Life insurance companies are increasingly targeting the "senior care" market.
The Financial Services Council's (FSC) latest Financial Resilience Index tracker indicates that the outcomes of some economic decisions made since the start of the COVID-19 pandemic are really biting across New Zealand.
International tax advisory firm Ernst & Young (EY) has raised concerns about the potential negative impacts of the proposed amendments to the VAT Act, 2013, particularly regarding the insurance sector.
The record profitability (after zakat & tax) seen in the insurance industry in 2023 has continued in 2024 with the sector reporting a 48% upsurge in net profits to SAR879m ($234m) in 1Q2024 from SAR594m in 1Q2023, says Badri Management Cosultancy.
Sun Life Malaysia (Sun Life) has opened its first branch in Kuching to bring better financial protection to clients in Sarawak and a way of speeding up its growth in East Malaysia.
More insurance customers are surrendering their policies for cash due to financial burdens exacerbated by high inflation and costly borrowing rates.