A report by climate protection group Insure Our Future showed that 38% of reinsurers and 15% of primary insurers have now restricted underwriting of conventional oil and gas projects, up from 3% of reinsurers and 5% of insurers that did so in the past year.
Switzerland-based Swiss Reinsurance Co. Ltd. has partnered with Indonesian reinsurer PT Reasuransi Indonesia Utama (Indonesia Re) to accelerate digital transformation in Indonesia's insurance industry.
Hong Kong-based insurer China Merchants Insurance Co. Ltd. has agreed to transfer its general insurance business to CMB Wing Lung Insurance Co. Ltd., a wholly owned subsidiary of CMB Wing Lung Bank Ltd.
The General Insurance Association of Indonesia said the local general insurance sector recorded 20% year-on-year growth in aggregate premium income to around 46 trillion Indonesian rupiah ($3.05 billion) in the first half of the year.