The net profit attributable to shareholders of China's five major 'A'-share-listed insurance companies for the first three quarters of 2024 climbed steeply year-on-year.
Large losses, such as increased frequency and severity of extreme weather, could increase underwriting volatility at China Re Group, according to S&P Global Ratings (S&P).
PICC Reinsurance is expected to increase its premiums by 8%-10% over the next two years, says S&P Global Ratings (S&P) in its report titled "Asia-Pacific Reinsurance Sector Update - Improvements Are Underway".
Continuous portfolio overhaul and tightening risk selection for new business could lead to moderate growth appetite in Hong Kong-based Taiping Reinsurance over the next two years, says S&P Global Ratings (S&P).
China Reinsurance (Group Corporation) [China Re] has reported a net profit of CNY2,411m ($337m) for the first nine months of 2024. The company's insurance income stood at CNY9,539m for the period.
With the high growth of premiums in August and September, many insurance companies have met their 2024 full-year performance targets ahead of the end of the year, and launched their 2025 "Start of the Year" sales campaign earlier than in previous years.
The mainland Chinese insurance industry's premium income reached CNY4.79tn ($672bn) in the first nine months of this year, jumping by 7.2% year on year, according to the National Financial Regulatory Administration (NFRA).
New York-listed Waterdrop, a leading technology platform company dedicated to insurance and healthcare services, is looking at a secondary listing in Hong Kong as it seeks to expand its insurance business in the financial hub, reported Bloomberg News.
With two months left for all insurance companies to implement the China Risk-Oriented Solvency System Phase II, the solvency of the property and life insurance industries has improved significantly.
The financial performance of Groupama SDIG Property Insurance Co, a 50-50 Sino-French joint venture, is regarded as 'Good', given its increasing underwriting margin and steady investment yield, says Fitch Ratings.