Typhoons pose a significant threat in China, causing substantial damage each year. Did you know that the average annual economic loss due to natural disasters in China amounts to approximately $76 billion? Imagine your business facing such a catastrophe. Being unprepared could lead to severe financial setbacks. However, with the right precautions, you can [...]
Azerbaijan Population 10,2 mln GDP 72.4bn USD GDP Growth 1.1% GDP Growth (Industry) 3.7% Inflation 8.8% Azerbaijan's main industries are: Oil and natural gas Petroleum products Oilfield equipment Steel Pig iron Cement Chemicals Petrochemicals Textiles Machinery Cotton Food products Exports account for over 46.8% of GDP. Major export [...]
India’s Insurance industry is one of the premium sectors experiencing upward growth. This upward growth of the insurance industry can be attributed to growing incomes and increasing awareness in the industry. India is one of the top 10 largest non-life insurance market in the world's emerging insurance markets, growing at a rate of 14-15% [...]
New flexible benefits platform launched by REGO Group for Portugal and Spain aims towards changing how employees are compensated PeopleInBest, the latest brand in the flexible benefits sector and Human Resources compensation management, announces its official launch and entry into the Portuguese and Spanish markets. With the aim of providing a personalised extra salary [...]
Mongolia Population 3,530,000 GDP 12.4bn GDP Growth 3.5% GDP Growth (Industry) 33.1% Inflation 13% Major Industries construction materials mining (coal, copper, molybdenum, fluorspar, and gold) oil food and beverages processing of animal products Exports now account for more than 40% of GDP. Mongolia depends on China for more [...]
According to statistics from the Chinese National Financial Regulatory Administration, in the first 10 months of the year 2023, the direct insurance premium income of the property insurance industry increased by 7.16% from 2022. This rate is lower than the 9.94% growth in 2022/21. Despite being lower, it is still considered a high growth [...]
From the 1st of January, 2024 a new Government Decree on the detailed rules of environmental insurance related to waste management entered into force in Hungary - under the number of 681/2023. (XII. 29.) -, which establishes an obligation for both waste managing and waste producing companies to obtain a proper environmental liability insurance [...]
South Africa, a country with a multi-faceted history and diverse social challenges, has taken significant legislative steps in recent decades to ensure the safety and protection of its citizens. 2024 is an election year in South Africa, so an increased risk level of volatility is to be expected. In particular, the state insurer SASRIA [...]
About the Involuntary Loss of Employment Scheme Enacted through Federal Decree Law No. 13 of 2022 on the Involuntary Loss of Employment (ILOE), this distinctive Scheme ensures financial protection for individuals who experience job loss unrelated to disciplinary measures or voluntary resignation until they secure new employment. Eligible individuals stand to receive a monthly [...]
As of December 19, 2023, the recently implemented tax on reinsurance remains at a fixed rate of 25% on premiums ceded to overseas reinsurers. However, it is important to note that this percentage exhibits variability among carriers and risks, particularly when compared to the gross premium stated in the policy. The fluctuation is attributed [...]