Prior to the outbreak of Covid-19, Myanmar's insurance sector was going through a period of rapid change following the entry of foreign insurers in 2019. Amid the disruptive environment of the pandemic, the fledgling insurance industry has continued to develop new distribution channels and services in response to shifting demands from the market.
Economic update | Covid-19 and Egyptian insurance: why are insurers cautiously optimistic about the future?
While the coronavirus pandemic has had a negative impact on Egypt’s insurance sector, the continued rollout of universal health coverage, alongside targeted expansion in particular segments, could provide potential for future growth.
Myanmar has seen an increase in financial technology (fintech) and digital payment offerings since the outbreak of the coronavirus pandemic, raising hopes for the expansion of financial inclusion in a country where banking penetration remains below the regional average.
While the pandemic has placed extra strain on the Philippines’ health care system, increased awareness of health risks could lead to a spike in private insurance coverage.
The role that many sovereign wealth funds (SWFs) play in national economic policy has changed dramatically as a result of the pandemic, giving rise to questions about their future.
While Islamic banks emerged relatively unscathed from the 2008 global financial crisis, Covid-19 is having a deeper impact. Nevertheless, the disruption could provide opportunities to diversify the sector and accelerate its expansion once the pandemic subsides.