international insurance industry Archives

European insurance industry feels the pressure of new capital rules

September 9, 2015September 6, 2015 Marc

Europe insurance industry Flooding and Heavy Rains

Insurers are facing stricter capital rules that may prove difficult to comply with The European insurance industry may be in for a shock from revised capital rules that will take effect in January 2016. ASR Nederland N.V., a Dutch insurance provider, announced last week that its available capital fell drastically below the standard imposed by the new rules. Other companies have reported similar issues, which may show that the European insurance industry is relatively ill-prepared to comply with the new rules once they go into effect. Insurers may be forced…

Insurance industry changes required in Malaysia

June 26, 2013June 24, 2013 H. Cutner

The companies in the country need to have a closer look at their performance standards so they may be raised. According to Datuk Syed Moheeb Syed Kamarulzaman, the Malaysian Insurance Institute deputy chairman, the insurance industry in the country requires considerable changes in order to increase its performance standards. At the moment, the gap between best practices and performance standards are too great. He stated that the performance of the Malaysian insurance industry are not close enough to the standards that it upholds. Moreover, he pointed out that the gap…

Insurance news looks good for the industry’s profitability

June 7, 2013June 5, 2013 H. Cutner

India’s insurers have fared quite well over the last quarter, even in the case of life products. The latest insurance news that has been released from India has shown that the industry has done better than expected in terms of its profitability, including the life sector, which had been experiencing a slowdown in its collection of new business premiums. The industry has been struggling under the widespread economic challenges and low penetration in the country. However, the most recent insurance news appears to be showing that the industry in the…

International insurance news is coming from Nigeria with its health coverage

April 30, 2013April 29, 2013 H. Cutner

The country expects that its healthcare plan will be providing its residents with coverage by 2015. According to the latest international insurance news announcement from Nigeria, the new healthcare system will have been created and implemented across the entire country by 2015. The system is designed to run on a community level and is meant to provide everybody with coverage. According to the acting National Health Insurance Scheme (NHIS) secretary, Dr. Abdulrahman Sambo, the Community Based Social Health Insurance Scheme will be effective across all of Nigeria by 2015. This…

Insurance industry potential identified in African markets

January 28, 2013January 26, 2013 H. Cutner

africa insurance market life industry growth

Some marketplaces within the continent are being seen as having considerable growth potential. The current instability in the global economy and the political risks that are still obvious as barriers in the African markets, however, the insurance industry is now discovering that the region also holds a number of potential growth opportunities that have been primarily untapped. This, according to a recent report that has been issued by A.M. Best, the rating agency. The A.M. Best insurance industry report indicated that “Given anticipated development of gross domestic product (GDP) in…