China's biggest life insurer, China Life, has announced a 30.7% plunge in net profit for 2023 to CNY46.2bn due to its investment performance.
CITIC Prudential Life (CPL), which is Prudential's 50-50 joint venture in mainland China, saw new business profit fall by 40% reflecting both lower volumes and adverse economic impact, Prudential says in a media release on its 2023 financial results.
Hong Kong-listed China Taiping Insurance Holdings Co (CTIH) increased its net profit after tax by 23.0% to HK$10.3bn ($1.3bn) in 2023, compared to the previous year.
Japan's recent adjustment of monetary policy is likely to have a moderately positive impact on economic capital and earnings for the country's life insurers in the next one to two years, says Fitch Ratings. The direction and scale of changes in Japanese bond yields will be key to the longer-term impact on their credit profiles.
The expenditure of Taiwan's long-term care fund will exceed NT$80bn ($2.5bn) this year when the budget is expected to fall into a deficit, according to estimates from the Ministry of Health and Welfare.
Newly-licensed Narayana Health Insurance plans to start operations by the first quarter of the fiscal year starting 1 April 2024 (FY2025).
Health and safety (84%) overtook cyber attack, including cyber extortion (69%), as the top risk for directors and officers (D&O) in APAC this year, according to the 2024 Global Directors' and Officers' Survey Report from WTW and Clyde & Co.
Qatar's listed insurance companies posted a combined net loss of QAR360m ($99m) for the financial year ended 31 December 2023, according to annual financial statements lodged by the companies with the Qatar Stock Exchange.
Life Insurance Corporation of India (LIC) has emerged as the strongest insurance brand in the world with a steady brand value of US$9.8 billion, a brand strength index score of 88.3, and an associated AAA brand strength rating, according to a report by Brand Finance Insurance 100 2024.
New research by private health insurer, nib New Zealand, has revealed that almost half of Kiwis (47%) are behind on their general health check, yet the majority believe their current health is in good shape.