China Life Insurance, the country's biggest insurer, has posted a net profit attributable to equity holders of the company of CNY32.1bn in 2022, 37% lower than in 2021.
The People's Insurance Company (Group) of China (PICC Group) posted consolidated gross written premiums in 2022 which exceeded CNY600bn ($87.2bn) for the first time.
China Pacific Insurance (Group) Co [CPIC Group] has posted an 8.3% drop in net profit attributable to shareholders of the parent to CNY24.61bn ($3.58bn) in 2022.
The CBIRC is expected to announce shortly the extension of individual income tax (IIT) incentives to all mainstream commercial health insurance plans.
New regulation on unit-linked life insurance products in Indonesia will help to restore consumer trust, supporting the development of the industry, says Fitch Ratings.
The Kuwaiti insurance market reported total premiums of KWD629.9m ($2.96bn) for the financial year ended 31 December 2022, according to industry data.
The Egyptian insurance sector collected premiums totalling EGP56.8bn ($1.84bn at current exchange rates) for the full year of 2022, according to data released by the Financial Regulatory Authority (FRA). This represents growth of 15.9% over 2021.
The motor insurance market in the UAE saw a fall in profitability in 2022 due to higher loss and commission ratios, note the international independent risk management, benefits and technology company Milliman in a report released earlier this month.
According to a survey by Manulife, the vast majority of respondents (92%) said they are willing to spend more to prolong their health span. Investing in exercise and healthier diet are the main ways people seek to improve their health. Furthermore, with mental health issues on the rise, mindfulness activities, such as yoga and brain training, are also popular ways of self-help.
Hongkongers live longer than most people, but they think that their early-to-mid 60s will be dogged by poor health according to Manulife Asia Care Survey 2023.