The net profit attributable to shareholders of China's five major 'A'-share-listed insurance companies for the first three quarters of 2024 climbed steeply year-on-year.
The mainland Chinese insurance industry's premium income reached CNY4.79tn ($672bn) in the first nine months of this year, jumping by 7.2% year on year, according to the National Financial Regulatory Administration (NFRA).
With two months left for all insurance companies to implement the China Risk-Oriented Solvency System Phase II, the solvency of the property and life insurance industries has improved significantly.
The financial performance of Groupama SDIG Property Insurance Co, a 50-50 Sino-French joint venture, is regarded as 'Good', given its increasing underwriting margin and steady investment yield, says Fitch Ratings.
M&As are expected to dominate the next phase of growth in the Indian insurance industry, according to a report by the Confederation of Indian Industry (CII) and professional services firm KPMG in India.
Insurance rates in the Pacific region, dominated by the Australian market, dropped by 6% in the third quarter of 2024, according to the "Global Insurance Market Index" published by the world's biggest insurance broking group Marsh.
The Insurance and Social Welfare Supervisory Authority (ACAPS) is studying the introduction of compulsory multi-risk home insurance in the country.
Qatar Insurance Company (QIC), the leading insurer in Qatar and a dominant player in the Middle East North Africa (MENA) region, has reported a net profit of QAR525m ($144m) for the first nine months of 2024, around 16% higher compared to QAR453m over the corresponding period in 2023.
Total insurance premiums in Jordan in the past nine months of this year amounted to JOD603m ($851m), an increase of about 4.9% compared to the corresponding period in 2023, according to statistics released by the Central Bank of Jordan.
Regulatory push, the advent of rural and social-focused insurance players, digital adoption and innovation are expected to drive the insurance industry, said a report released by the Confederation of Indian Industry (CII) and professional services firm KPMG in India.