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Financial Performance tag returned 1270 results

  • Digital disruption & the Virtual InsurTech boom

    Digital disruption has been pervasive across the global insurance sector for the last decade. With various use cases ranging from blockchain and claims, artificial intelligence and underwriting to telematics for auto insurance, there have been great inroads made in terms of technological advancement for the sector. Whilst these use cases greatly improve existing insurance processes, how policies are then purchased (distribution), and the customer experience involved in those purchases is critical to an insurer's success. The acquisition of customers via more modern, digital distribution channels is essential and how InsurTechs around the world are quickly gaining market share over traditional incumbents.

    AIRPlus | 28 Sep 2021
  • South Africa: Sanlam group resilient in its operating performance

    South African financial services group Sanlam Limited's (Sanlam) operating performance has been resilient and has improved significantly in 1H2021 compared with 1H2020, notes Fitch Ratings.

    Africa | 27 Sep 2021
  • China Re P&C says insurers cannot return to "suicidal" strategy of focussing heavily on motor business

    The comprehensive reform of auto insurance, which passed its first anniversary on 19 September, is forcing the transformation of property and casualty insurance companies, according to China Property & Casualty Reinsurance (China Re P&C).

    China | 24 Sep 2021
  • Qatar: Takaful operators post US$41m in insurance surplus in 2020

    Takaful companies in Qatar reported an annual insurance surpluses amounting to QAR149m ($41m) for 2020, according to data analysed by Bait Al-Mashura Financial Consultancy Company.

    Middle East | 23 Sep 2021
  • GCC: Takaful insurers face rising claims amid stiff competition, declining 1H profits

    The profits of the Islamic insurance (takaful) providers in the Gulf Cooperation Council (GCC) countries deteriorated in the first half of 2021 as claims returned to normal levels after last year's pandemic-induced lockdowns and prices are held back by competition, but growth prospects for the industry remain favourable, Moody's Investors Service said in a report published yesterday.

    Middle East | 21 Sep 2021
  • Confidence recovering fast in MGA market

    Confidence is recovering fast in the MGA market despite the pandemic according to a recent survey by law firm Clyde & Co. The survey was conducted in summer of 2021 and included more than 50 insurers and MGAs.

    AIRPlus | 21 Sep 2021
  • Africa: Reinsurer improves 1H2021 underwriting & investment performance

    The African Reinsurance Corporation (Africa Re) has posted a net profit of $23.7m for the first six months of this year, 27% higher than the $18.7m reported for the corresponding period last year, on the back of improved underwriting and investment performance.

    Africa | 20 Sep 2021
  • Morocco: Wafa Assurance turns around its performance

    One of Morocco's biggest insurance groups, Wafa Assurance, has reported a net income of MAD362m ($40.4m) for the first half of 2021, representing a turnaround in performance from a net loss of MAD191m for the corresponding period last year.

    Middle East | 20 Sep 2021
  • Saudi Arabia: Lower 2Q profits ignite call for insurers to adhere to technical pricing

    The insurance industry in Saudi Arabia reported a combined net profit after zakat and tax of SAR384m for the second quarter of this year, plunging by 59.2% compared to the corresponding period last year, according to data released by the Saudi Central Bank (SAMA).

    Middle East | 16 Sep 2021
  • Saudi Arabia: Insurance market grows faster in 2Q2021 compared to 1Q

    Data from the Saudi Central Bank (SAMA) show that GWP in the insurance sector reached SAR9.4bn ($2.5bn) in the second quarter of this year, representing an increase of 8.1% from the corresponding period last year.

    Middle East | 15 Sep 2021

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