China Life Insurance has posted net profits attributable to equity holders of CNY58.29bn for 2019, an increase of CNY46.89bn or 411.5% compared to 2018. This is more than five times the CNY11.4bn resported for 2018.
ZhongAn Online P & C Insurance, the leading online insurer in China, has slashed its net loss for the 2019 financial year by two thirds to CNY638.6m from CNY1,796.7m in 2018.
2019, the first full year of underwriting for GIC 1947, was profitable for the Lloyd's syndicate backed by state-run Indian reinsurer GIC Re.
Al Ain National Insurance is paying cash dividends totalling AED52.5m ($14.3m) for the financial year 2019. The amount represents 35% of the nominal value of the shares of the company.
The board of Gulf Insurance Group (gig), the largest insurer in Kuwait, has proposed a capital increase of KWD1.8m ($5.8m) to KWD20.5m from KWD18.7m.
The Saudi Cooperative Reinsurance Company has posted a net profit before zakat of SAR59.3m (15.8m) in 2019, compared to a profit of SAR13.7m in 2018, an increase of 332.3%.
Fitch Ratings has revised the sector outlook for the underlying fundamentals of the non-life insurance industry in APAC region to negative from stable due to the impact of COVID-19.
A survey of 60 insurance executives conducted by the actuarial firm Finity has found that 62% of the participants believed their organisations were 'a long way behind' the best practices and a further 21% said they were 'doing nothing effective in this area.'
The general insurance market in Singapore recorded an underwriting loss of S$28m ($19.4m) last year, compared to an underwriting profit of S$36m in 2018, according to the General Insurance Association of Singapore (GIA).
The Saudi insurance sector is forecast to grow to SAR48bn ($12.8bn) in terms of premiums by 2024, with a compound annual average growth rate of 5% between 2019 and 2024, according to investment bank Alpen Capital.