Gross Premiums Written (GPW) in the UAE are predicted to grow by approximately 5% in 2022, says S&P Global Ratings.
Total premiums in Turkiye's insurance sector surged by 93% in the first half of this year to TRY90.9bn ($5.1bn) compared to the corresponding period of the previous year, according to statistics from the Insurance Association of Turkiye (TSB).
Abu Dhabi National Insurance Company (ADNIC), one of the leading regional multi-line insurance providers for both corporates and individuals, recorded gross written premiums of AED3.23bn ($1.21bn)in the first half of 2022. This represents an increase of 20.9%, compared to AED2.67bn for the corresponding period in 2021.
Emirates Insurance (EIC) has a track record of strong operating performance, reporting a five-year (2017-2021) weighted average return on equity of 9.5%, says AM Best.
Under pressure to grow their business, top listed life insurers in China are adjusting their product strategies rapidly. Among several new products launched, incremental wholelife insurance plans have become a large source of revenue for insurance companies.
Life insurers posted health insurance premiums of CNY418.4bn in the first half of this year, a year-on-year increase of 1.21%. This marginal growth, or slower pace of increase, is explained by new critical illness (CI) insurance business that plunged by more than 30% in the first six months.
Some property insurance companies have been disguising the sales of medical drugs as insurance sales, prompting the CBIRC to call a halt to the malpractice.
CITIC Prudential Life (CPL), life insurance giant Prudential's 50-50 joint venture in China, saw annual premium equivalent (APE) sales growth of 13% to $507m in 1H2022 despite headwinds from COVID-19-related restrictions.
Unionlife is exploring ways to resolve the risk it is exposed to in its investments in the financially-stricken property development group Evergrande.
The number of cities carrying out trials on long-term care insurance has increased to 49 at the end of July from 15 when the first national-level pilot programme was launched in 2016.