The Middle East and North Africa (MENA) offer considerable growth opportunities for insurance due to the region's rising income levels, pronounced infrastructure investments and low existing coverage rates relative to global standards. Despite these positive factors however, insurers in the region still face numerous challenges both big and small when competing in their respective market, and recent…

Taiwanese insurance companies looking to diversify and prosper outside their over-crowded home market will soon be given greater capacity to capture business opportunities overseas. It was announced this past week that Taiwan's chief industry regulator, The Financial Supervisory Commission (FSC) will begin to loosen overseas investment rules for domestic insurers later this year. According to the…

Vietnam's fledgling insurance market is beginning to develop innovative new insurance products that better reflect the country's increased consumer spending power and corresponding demand for more comprehensive coverage options. It was announced this week that prominent local travel agent Saigontourist will sign a new cooperation deal with Chartis' Vietnamese insurance subsidiary to provide improved…

More changes could soon be underway in the Singaporean insurance market, with news emerging this week that the country's industry watchdog will likely raise capital requirements and corporate governance standards on domestic insurance companies over the next year. Speaking at the General Insurance Association's annual meeting on Tuesday, Lee Boon Ngiap, Assistant Managing Director for the Monetary…

The Monetary Authority of Singapore (MAS) announced this week that it will conduct a major review of the country's financial advisory industry in a move which could potentially change the way investment, savings and insurance products are sold to consumers in the Asia Pacific nation. News of this upcoming government examination, titled the Financial Advisory Industry Review (FAIR), first came…

China Life Insurance Co., the mainland's and indeed the world's largest life insurer by market value, made news this week in reporting a considerable 45.5 percent drop in 2011 full-year operating profit. The Chinese insurer acknowledged that slowing domestic business growth and weak stock market returns had adversely affected the company's performance over the past year. In a…

Australia's life insurance sector has become one of the most successful and competitive markets for both insurers and consumers in the aftermath of the 2008-9 global economic crisis. Despite this considerable progress however, industry observers insist that more work should be done to ensure the market can effectively capitalize on its considerable growth potential going forward. A panel of risk…

Insurance companies in China could soon find themselves subject to increased regulatory supervision, with several high-profile senior management personnel changes at state-backed firms now expected to have a ripple effect across the entire industry.

Over the past few weeks the head chairmen from China’s four largest public insurers,…

Oman's insurance sector appears to be gradually catching up on its Gulf region neighbors, with recently published government statistics revealing yet another year of sustained double-digit market growth and development for the Sultanate's insurers. The Capital Market Authority (CMA), Oman's chief financial services regulator, revealed to…

Qatar's ambitious plan to cover the emirate's entire population under a unified national health insurance scheme could be achieved within the next three years, according to a recent interview given by senior Qatari government officials to local media. The system, when finalized, will look to provide state-subsidized medical cover for all Qatari nationals, while local employers will likely be responsible…