South African financial services group Sanlam Limited's (Sanlam) operating performance has been resilient and has improved significantly in 1H2021 compared with 1H2020, notes Fitch Ratings.
A weaker-than-expected economic recovery, will likely delay the Indonesian non-life insurance market's recovery to pre-COVID-19 growth levels, along with the increased likelihood of depressed investment returns and heightened credit insurance risks, says AM Best.
The general insurance industry in India posted an aggregate net profit after tax of INR38.7bn ($522m) in the financial year ended 31 March 2021 (FY2021) from a net loss of INR14.0bn in FY2020, data released by General Insurance Council (GIC) show.
Treasurer Josh Frydenberg has issued a message to insurers, banks, and superannuation funds, urging them not to abandon sectors of the economy that will need investment to make a successful transition to net-zero emissions.
The adoption of the International Financial Reporting Standard 17 (IFRS 17) on Insurance Contracts by the insurance sector in Saudi Arabia will be a boon for investors eyeing stakes in insurers in the Kingdom, according to Mr Sulaiman Binmayouf, CEO at United Co for Actuarial Services (CAIS).
Turk Reasurans aims to expand the scope of compulsory disaster insurance, especially to cover floods, given the disasters that are frequently experienced in Turkey, according to the reinsurer's CEO, Ms Selva Eren.
Five major A-share listed insurance companies posted an aggregate gross premium of CNY1.84tn ($285bn) in the first eight months of this year, a decrease of 0.58% year-on-year, contrasting with a year-on-year increase of 6.15% in the corresponding period in 2020.
The Insurance Working Group of the EU Chamber of Commerce in China says that it expects Beijing to continue with its incremental approach to reform and opening up to strengthen its financial sector, while emphasising strict compliance with regulatory requirements.
The Insurance Working Group of the EU Chamber of Commerce in China notes that while there have been key changes in opening up of the Chinese insurance market since 2019, the persistence of indirect barriers have rendered opening-up incomplete.
The comprehensive reform of auto insurance, which passed its first anniversary on 19 September, is forcing the transformation of property and casualty insurance companies, according to China Property & Casualty Reinsurance (China Re P&C).