The government is set to withdraw the National Health Insurance Scheme (NHIS) 2019 following disagreements between various stakeholders.
Four insurers listed on the Bahrain Stock Exchange have posted an aggregate net profit of BHD13.75m ($36.45m) for the 2020 financial year, an increase of 17% compared to BHD11.78m for the year 2019.
Some regulators in the GCC are reportedly assessing the impact of insurance rates if pandemic risks were insured, S&P Global Ratings says.
Membership of New Zealand's largest health insurer is at its highest in more than a decade.
An increase in competition and resumption of nonessential medical treatment could cause claims to rise to more normal levels and, consequently, lead to weaker but still profitable underwriting results in 2021, according to a report by S&P Global Ratings.
Beijing-headquartered China Post Life's net profit in 2020 fell by 26.13% to CNY1.247bn over 2019. This is China Post Life's first drop in net profit in at least five years, in spite of increasing premium income.
Premium growth in the life insurance market is expected to rebound with increases of 10%-15% forecast for this year and the next, reflecting rising awareness of protection needs and retirement planning, says S&P Global Ratings.
Following up on moves that delegate the supervision of insurance companies to regional bureaux, the CBIRC has sharpened its supervision system by reorganising functions and duties of its departments at head office level.
The five major A-share listed insurance companies in China have posted a combined premium income of CNY581.5bn ($87bn) in January 2021, a year-on-year increase of 6.26%.
Global insurer Allianz announced its consolidated results for the Asia Pacific region for the year ended 31 December 2020, showing that total operating profit for Asia increased by 15.4% (19.0% w/o F/X impact) to EUR551m ($666.4m) compared to 2019.