AM Best's population of global reinsurance companies posted a return on equity (ROE) of 22% in 2023, a five-year high, driven mainly by a turnaround in unrealised losses from the previous year and strong underwriting performance.
Toa Reinsurance Co has made efforts to improve its profitability, says S&P Global Ratings in a recent report titled "Asia-Pacific Reinsurance Sector Update - Improvements Are Underway".
Tanzania Reinsurance Company (TAN RE) has a track record of strong operating performance, evident by a return-on-equity (RoE) ratio that exceeded 10% in each of the past five years, says AM Best in a report.
The Saudi Reinsurance Company (Saudi Re) posted a surge of 351% in net profit after zakat to SAR475m ($126.5m) for the nine months ended 30 September 2024.
Oman Re, the Sultanate of Oman's sole reinsurer, has reported a net profit after tax of OMR1.4m ($3.7m) for the first three quarters of this year, down from OMR1.9m for the first nine months of 2023.
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 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.