The Australian general insurance industry is expected to see another strong year in FY2025, with top line continuing to grow along with a stable loss ratio, according to a report by Finity, a general insurance actuarial provider.
Zheshang Property and Casualty Insurance Company (Zheshang Insurance) turned profitable in 2023, and earnings continued to expand in the first nine months of this year (9M2024) on better underwriting performance, notes Fitch Ratings.
The Saudi insurance market continues to grow strongly in the first nine months of 2024 (9M2024), but performance remains mixed by lines of business, notes Badri Management Consultancy which specialises in actuarial services.
Dubai Insurance Company (DIN), one of the UAE's biggest insurers, has a strong record of underwriting profitability and reported a net insurance service result of AED123m ($33.5m) in 2023 (2022: AED76m) and a combined ratio of 86% (2022: 80%) under IFRS17, says Fitch Ratings.
Losses from weather-related catastrophes may destabilise the earnings of mainland Chinese non-life insurers, especially in 2H2025, according to Fitch Ratings.
The premium income of life insurance companies in China declined in the single month of October, which was the first monthly negative growth in 2024 to date, according to data from the National Financial Regulatory Administration (NFRA).
The synergy and integration between Allianz Jingdong General Insurance Company and its parent company, Allianz SE, is expected to grow in the longer term, says Fitch Ratings.
French insurance giant AXA and the People's Insurance Company (Group) of China, the country's biggest non-life insurer, have signed a Memorandum of Understanding to boost global cooperation.
The National Financial Regulatory Administration (NFRA) has approved a licence for a new insurer to be registered in the city of Suzhou in the eastern province of Jiangsu. The proposed name of the insurer is Suzhou Dongwu Property Insurance Co.
While proposed reforms by IRDAI would allow for full foreign ownership of insurance companies in India, many international investors may still prefer to enter the market through joint ventures with Indian partners, particularly in the initial stages, says the global law firm Freshfields.