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.
Hong Kong-listed Sunshine Insurance Group Co has reported a lower net profit for 2023 despite achieving a higher turnover, as compared to 2022.
Cash-rich Chinese insurance companies, which started buying commercial real estate in the second half of last year after prices tumbled, are awaiting more buying opportunities, according to industry sources.
Australia has released its inaugural National Climate Risk Assessment report. According to the report water resources, critical infrastructure, health and agriculture are among the priority areas that are at significant risk from climate change.
The Company for Cooperative Insurance (Tawuniya), a Top Three insurer in Saudi Arabia, has formed a strategic partnership with Ejaro, a car rental platform company.
Several Chinese insurance companies late last week sent senior executives to the headquarters in Shenzhen of China Vanke, the country's second biggest property developer by sales, to conduct negotiations on extending Vanke's debt repayment period for at least a year.
Chinese insurers have exposure to the real estate sector in the form of bonds, loans, equities, and alternative assets (such as debt schemes), notes S& P Global Ratings (S&P).
Some Chinese insurers have sounded the alarm over the debt and liquidity risk of Vanke, China's second-biggest property developer by sales, reported Bloomberg quoting people familiar with the matter.
Credit trends in the Asia-Pacific insurance sector remain steady, though prospects vary across regions, says S&P Global Ratings (S&P). Of the Asia-Pacific insurers S&P rates, 98% have a stable outlook
The average annual rate of return on Chinese insurers' investments in 2023 fell to the lowest in 15 years, although it exceeded 2022's rate if unrealised gains were counted, official data showed.