The International Finance Corporation (IFC), an integral member of the World Bank Group, is investing in a Lebanese-owned regional insurance company over the next few years in a bid to increase access to sufficient health and commercial risk insurance services across the Middle East and North Africa (MENA) region. Addressing the region's low coverage rates could spur…

The European insurance industry faces a myriad of problems as we head into 2012. The continent's ongoing macroeconomic and political issues have adversely impacted company balance sheets, altered consumer demand and sapped investor interest across most business lines. A new report released this week from international consulting firm Ernst & Young notes that these challenges will force insurance companies…

China Pacific Life Insurance, the nation's fourth-largest life insurance company, received approval from the China Insurance Regulatory Commission (CIRC) this week to expand their rural individual life microinsurance pilot program to seven more Chinese provinces. China's insurance regulator is striving to develop the country's micro insurance market, particularly in rural areas, in a bid to help Mainland…

Big changes could soon be underway in Asia's premier insurance centre. The Hong Kong government announced this week that they are planning to implement a new national insurance fund that would protect policyholders from insolvent insurers after reviewing the results of a three-month long public consultation. Hong Kong insurance authorities surveyed public and stakeholder opinions on the proposed…

The United Kingdom is one of the world's leading insurance markets, but how well do their own citizens really understand the intricacies of the trade? A new study released this week by the Association of British Insurers (ABI) finds out which protection products have proven to be the hardest to understand by the general…

Ratings agency Standard & Poor's (S&P) has issued a series of cautions to major European insurers this week, warning them that ongoing exposure to the euro debt crisis has negatively affected their long term credit rating outlooks. The move follows S&P's decision to lower the ratings on nine eurozone member countries last month, and adds to the woes facing the continent's beleaguered insurance industry…

India's life insurance industry, once one the strongest performing sectors in the country, has seen its growth prospects curtailed in the past year due to regulatory restrictions, competition, and limited investor activity, according to a new report. New…

Two new research documents released this week by Fitch Ratings analyzed the state of the South African insurance market in 2011 and what challenges and opportunity lie ahead. Overall the global credit ratings agency found that while the business environment in South Africa remains quite challenging at present, both the life and non-life insurance industries have proved to be widely resilient so far…

In an attempt to capitalize on the increased spending power of India's sizable overseas workforce, HDFC Life, one of the country's leading private life insurance companies, announced this week that they have opened a representative office in Dubai - the company's first international operation, with more to come. It…

Arab Orient Insurance Company (AOIC) made news this week by finalizing their partnership agreement with French insurer SCOR, who will now re-insure their health insurance portfolio, one of the largest in Jordan. In a press statement, AOIC Chief Executive Isam Abdelkhaliq, heralded their new joint venture as an important step for both the Jordan…