China's five major 'A'-share listed companies reported a combined net profit attributable to the shareholders of the parent company of CNY171.8bn ($24.2bn) in the first half of this year, exceeding the CNY165.5bn for the whole of 2023, according to data from interim financial statements released by the companies.
Insurers in Hong Kong generated new business premiums of HK$29.7bn ($3.8bn) from mainland Chinese visitors (MCVs) in the first six months of this year, according to data from the Hong Kong Insurance Authority.
The shrinking of the agency forces of several listed insurance companies has eased, based on data shown for the first half of 2024.
Senior care products -- such as annuities with a healthcare component, long-term care insurance, and life insurance with a long-term care component -- are unaffordable for most people in both developed and developing countries, resulting in low market penetration, points out the global consulting company McKinsey.
German global insurer Allianz Group has received approval from regulators in China to move its entire stake in a property insurance joint venture with Chinese e-commerce giant JD.Com to its local unit, a move intended to streamline its operations in China.
Nasdaq-listed Zhibao Technology, engaged primarily in providing digital insurance brokerage services through its operating entities in China, has won a tender to provide high-end medical third party administration (TPA) services to the People's Insurance Company of China (PICC Group), one of the largest insurance groups in the country.
Shin Kong Financial Holding (SKFH), Taiwan's fifth-largest financial conglomerate, has reported a net profit of NT$20.5bn ($640m) in the first half of the year.
Allianz Asia-Pacific reported a 5% year-on-year increase in total operating profit (OP) to EUR388m ($430m) for the first six months of 2024, with contributions from both Life/Health and Property-Casualty business segments, the company reveals in its interim financial statements.
UAE-listed Abu Dhabi National Takaful Company (ADNTC) has terminated an agreement to acquire the life insurance portfolio of Dubai Islamic Insurance & Reinsurance Company (AMAN).
FWD Life Insurance (FWD) has launched its latest critical illness insurance product, "CI Re-Claim Re-Care," under the "Total CIs Solutions" concept.