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Financial Performance tag returned 890 results

  • Vietnam: Insurance market growth slows in 1H2020

    Total premium revenue in the Vietnamese insurance market was estimated at VND83,084bn ($3.57bn) for the first six months of this year, an increase of 15.02% over the same period in 2019, according to an update from the Insurance Administration and Supervision Department which is under the Ministry of Finance.

    Asia | 25 Sep 2020
  • Vietnam: BIDV Insurance operating performance expected to continue to be adequate

    The operating performance of BIDV Insurance Corporation (BIC) is assessed as adequate, as evidenced by a five-year average return-on-equity ratio of 8.0% (2015-2019), says AM Best.

    Asia | 17 Sep 2020
  • India: Life insurance sector stagnating

    A report by Kotak institutional equities research has revealed that the life industry stagnated in the month of August as a result of the COVID-19 pandemic, with private players reporting a 6% y-o-y decline in individual annual premium equivalent (APE).

    AIRPlus | 16 Sep 2020
  • New supervisory framework to enhance Hong Kong insurance groups' risk management

    According to Fitch Ratings the proposed new group-wide supervisory (GWS) framework in Hong Kong will strengthen the ability of the regulator to oversee Hong Kong-based internationally active insurance groups (IAIGs), which will push insurance groups to strengthen the sophistication of their risk management and improve the management of their group-wide capital adequacy.

    Asia Risk | 16 Sep 2020
  • UAE: Takaful operations show flat revenue growth in 1H

    Growth in contributions for takaful operators in the UAE stagnated in 1H2020, declining by 1% to hover at around AED2bn ($544m), according to a report published by Dubai-based actuarial consulting firm Badri Management Consultancy.

    Middle East | 15 Sep 2020
  • Lloyd's sees mild loss in first half of 2020, but improvement in combined ratio

    Lloyd's announced a loss of GBP 0.4bn (pre-tax) for the first six months of 2020, driven by GBP 2.4bn in COVID-19 losses contributing 18.7% to the market's combined ratio of 110.4%. Excluding COVID-19 claims, the market's combined ratio has shown substantial improvement at 91.7%, down from 98.8% in 1H 2019.

    AIRPlus | 11 Sep 2020
  • Indonesia: Listed insurers see combined net profit plunge by 1/3 in 1H

    The aggregate net profit of the 14 general insurance and life insurance companies listed on the Indonesia Stock Exchange dropped by 33.23% to IDR463.12bn ($30.9m) for the first six months of this year, compared to the corresponding half last year, according to data compiled by Bisnis.

    Asia | 11 Sep 2020
  • Saudi Arabia: Wafa Insurance, undergoing restructuring, posts US$7.6m net loss for 1H

    Saudi Indian Cooperative Insurance (Wafa Insurance), which is undergoing financial restructuring, has disclosed its financial results for the first half of this year in which the insurer posted net loss before zakat of SAR28.4m ($7.6m) on premiums of SAR2.2m.

    Middle East | 10 Sep 2020
  • China: Taiping Re maintains non-life underwriting profitability

    Taiping Reinsurance Company Limited's (TPRe) has maintained its non-life underwriting profitability, with a combined ratio of 95% in 1H20, compared with 93% in 1H19 (2019: 98%), notes Fitch Ratings.

    Asia | 10 Sep 2020
  • India: GIC Re says strategic reduction in business led to lower April-June premium

    Government-run General Insurance Corporation of India (GIC Re) has reported a consolidated gross premium income of the company stood at INR159.83bn ($2.2bn) in 1QFY21 compared to INR211.10bn in the same period of the previous fiscal year.

    Asia | 09 Sep 2020

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