Total insurance premiums in Vietnam increased by 17% year-on-year to VND44.3tn ($1.9bn), reported Vietnam News Agency citing figures from the Ministry of Finance.
Premium growth in Asia (ex Japan) slowed down to 2.3% in 2018 to EUR871bn ($969.94bn), with the region accounting for only 16% of global premium growth compared to a whopping 81% in 2017, according to the latest annual Allianz Global Insurance Report.
Australia's general insurance sector recorded a 32.4% drop in underwriting results to A$2.8bn, due to claims from the Sydney hailstorm and Townsville flood as well as a strengthening of claims reserves in professional indemnity and mortgage classes.
The Egyptian insurance market posted total premiums of around EGP30bn ($1.76bn) for the fiscal year ended 30 June 2018 (FY2018), a growth rate of around 23.4% compared to the EGP24bn chalked up for FY2017, according to the latest annual report of the Financial Regulatory Authority.
Japanese insurers are under pressure to rebuild their reserves after deploying a sizeable portion in 2018 in what was a severe CAT year for the local market, revealed a new report by AM Best. Japan was rocked by a series of Nat CAT events last year which resulted in significant insured losses with the costliest being Typhoon Jebi.
Insurance companies listed in the Dubai and Abu Dhabi bourses continued their strong performance in the first quarter of this year as premium revenue improved, driven by a favourable regulatory environment.
The combined net profit of six insurance companies listed on the Palestine Stock Exchange increased by 7.9% during the first quarter of 2019 on an annualised basis to $7.48m.
The largest insurer in Algeria, National Insurance Company (Société Algérienne des Assurances or SAA), has posted a turnover of DZD27.7bn ($231.6m) for 2018, representing an increase of 4.4% compared to 2017.
Kuwait Reinsurance has reported a net profit of KWD1.64m ($5.4m) for the first quarter of 2019, an increase of 61% as compared to KWD1.02m for the corresponding quarter in 2018. The robust growth is mainly contributed by increased net earned premium and investment income.
Ageas has formulated a three-year strategic plan with a focus on the future. The strategy, Connect21, was first unveiled in September last year and more details have finally been released in Ageas's business report for 2018.