Extreme weather events and inflation have pushed insurance claims losses to unprofitable levels. Many insurers have raised premiums or retracted coverage due to rising costs. Customers face increasing risk of underinsurance or uninsured
IFRS 9 largely carries forward IAS 39 requirements but introduces new scope changes. Temporary exemption from IFRS 9 ends January 2023 with IFRS 17. Insurers must evaluate insurance contracts and financial instruments separately
Turk P&I started operations on February 19, 2014. Founded by three local P&I correspondents and three state-owned insurers. Provides insurance coverage up to $500 million. Half of capital provided by Turkish correspondent companies
Allianz shares rose 20.4% to 241.95 euros in 2023. Insurance sector showed less performance with 8.8% gain. 2022 saw 3.3% decline to 200.90 euros
Insurance industry faces increasing competition and technological challenges. Sri Lanka's insurance market penetration remains low at 1.3% of GDP. Industry needs to innovate beyond traditional product categories
ACA (Obamacare) significantly transformed US health insurance since 2010. BP operates in high-risk oil and gas industry with multiple risks. Travelers Companies uses Organizational Behavior Management for efficiency. Consumer behavior shapes insurance product positioning