While the nature of motor insurance business varies from one Arab country to another, especially in terms of laws and regulations, all Arab motor insurance markets face common challenges that require taking prompt measures to control losses, said speakers at a recent webinar organised by the General Arab Insurance Federation (GAIF).
The UAE Ministry of Finance has updated its exemptions list for VAT payments, including group medical insurance costs.
The push for insurance penetration at the gram-panchayat (village) level by the regulatory authorities is a great user-centric move, according to Mr Anup Rau, managing director and CEO, Future Generali India Insurance Company.
Giving everyone the opportunity to access their own data openly, transparently, and securely by linking the data with the banking sector, which is the centre of financial services, will lead to the development of financial products and services that better meet consumer needs, according to the Office of Insurance Commission (OIC).
Insurance authorities have granted approval for the establishment of a new insurance company headquartered in Suzhou, a vibrant city in eastern China. The new company, with a national licence, is registered as Dongwu Property & Casualty Insurance.
While Managing General Agents (MGAs) are being recognised as a useful innovation tool in less developed insurance markets, they are currently not eligible to operate in India, according to Global Insurance Law Connect (GILC), the network of specialist insurance law firms.
Participating life insurance policies have seen a significant decline in their share of net premium in the life insurance and family takaful sector in Malaysia in recent years, according to an article in the "Financial Stability Review 1st Half 2024" publication released by the central bank, Bank Negara Malaysia (BNM).
Insurance clinics have been launched for market traders and artisans and other informa-sector workers in the Greater Accra Metropolitan Area (GAMA) to promote insurance inclusion and penetration.
The Insurance Association of Türkiye (TSB) is coordinating with all stakeholders, including the government, to forge a plan with a new vision and fresh targets for the coming decades with the main goal of raising the penetration rate.
Financial resilience is a top priority for the insurance authorities in Türkiye and there are great efforts being made to strengthen the insurance sector, said Mr Davut Mentes, chairman of the Insurance and Private Pension Regulation and Supervision Agency (SEDDK).