Oman Insurance Company (OIC), one of the UAE's biggest insurers, has a track record of strong operating performance, demonstrated by a 10-year (2011-2020) weighted return-on-equity (ROE) ratio of 8.2%, notes AM Best.
Korean-owned property insurer LIG China has received approval from the Jiangsu Banking and Insurance Regulatory Bureau to change its name to Kaiben Property Insurance (China). The new name entered into effect earlier this month.
Environmental risks are becoming an increasingly important credit driver for Chinese insurers as their exposure to climate-related catastrophic events and decarbonisation policies grow, especially for property and casualty (P&C) insurers, says Moody's Investors Service.
In the first quarter of 2021, the five major listed insurance groups posted a 2.64% increase in aggregated total premium income to CNY973.2bn ($149.2bn).
The CBIRC has issued a set of draft regulations, that standardises for the first time the accident insurance business of property and life insurance companies. The goal is a unified set of rules for property and life insurers that will help prevent possible regulatory arbitrage behaviour by insurers.
Eight in 10 homeowners show little interest in spending to make their home more resilient to natural disasters, according to research commissioned by insurance, banking and finance group, Suncorp.
Earnings from real estate investments and developments have become the key drivers of operating performance for Qatar General Insurance & Reinsurance Company (QGIRC), says AM Best.
Gross premiums underwritten by non-life insurers grew by 5.2% to INR1.99tn ($26.4bn) for the financial year ended 31 March 2021 (FY21), according to preliminary data from the IRDAI.
An analysis of the financial reports of insurance companies in Bangladesh over the previous five years shows that an average, half of all insurance policies purchased in a year lapsed after the payment of the first-year premium.
Taikang Insurance Group's stable operating results and solid capital strength, despite challenging market conditions associated with the outbreak of the coronavirus pandemic, has led to Fitch Ratings to revise the outlook on Taikang Group's Long-Term Issuer Default Rating and its core life subsidiary's-Taikang Life Insurance -Insurer Financial Strength (IFS) Rating to 'Stable', from 'Negative'.