In 2024, underwriting losses widened for non-listed P&C insurers, though the overall deficit showed signs of improvement. Among 74 companies, 54 reported a combined ratio exceeding 100%. Notably, 37 insurers fell within the 100%-110% range-10 more than in 2023-while only eight exceeded 120%, down by six year-on-year.
Gross written premiums for the insurance industry in Egypt registered notable growth rates in 2024 with takaful contributions, in particular, showing outstanding performance.
Office of Insurance Commission (OIC), Thailand's regulator, has explained the framework for conducting the OIC Stress Test in 2025 for life and non-life insurance businesses to assess the durability of the insurance system under simulated risk scenarios, according to OIC assistant secretary-general, regulatory standards development division, Ayusri Khambanlue.
The profitability metrics of insurers in Qatar, particularly underwriting performance and ROE, outperform those of other GCC insurers, according to S&P Global Ratings credit analyst Emir Mujkic.
Brand Finance's latest report has ranked Indian life insurer, Life Insurance Corporation of India (LIC) as the third strongest insurance brand in the world.
Headquartered in Cape Town, Santam Group has announced a net income attributable to equity holders of ZAR3.68bn ($201.07m) for 2024, 13% higher than in 2023.
Net insurance premiums for insurance companies in Tunisia reached TND3.82bn ($1.24bn) in 2024, up from TND3.45bn in the previous year, a 10.8% increase, according to preliminary figures released by the General Insurance Committee (CGA), the insurance sector's regulatory authority.
The board of directors of Orient Insurance has proposed the distribution of cash dividends for 2024 amounting to AED400m ($109m), representing 80% of the company's issued share capital of AED500m. In comparison, Orient paid cash dividends of AED300m for 2023.
Star Assurances (STAR) has announced that its consolidated net profit reached TND27.5m ($8.9m) in 2024 against TND23.3m in the preceding year, an increase of 18%. The company's individual net profit grew by 10% to TND29.8m from TND27m for the same period, according to a statement the company lodged with the Tunis Bourse.
Al Rajhi Cooperative Insurance Company (Al Rajhi Takaful), the third largest insurer in Saudi Arabia in terms of premium volume, has reported a net profit after zakat attributable to the shareholders of SAR332.34m ($88.58m) in 2024, 1.30%, higher than the SAR328.06m chalked up in 2023.