Total gross premiums generated in 1Q2020 in Hong Kong increased by 10.9% to HK$165bn ($21.3bn) over the corresponding quarter in 2019, according to provisional statistics released by the Hong Kong Insurance Authority (IA).
Nasdaq listed Fanhua, a leading independent financial services provider in China,Since the beginning of May, has gradually resumed all kinds of offline training, agent recruitment and sales activities, following a lockdown imposed as the COVID-19 pandemic spread.
From January to April, the Chinese insurance industry achieved aggregate premiums of CNY1.99tn ($277.8bn), a year-on-year increase of 4.34%. This is an improvement over its performance in the first three months of this year
Underwriting losses suffered in credit insurance business reached CNY2.23bn ($312m) last year while losses posted for guarantee insurance business stood at CNY1.8bn ($252m) last year, according to data from the CBIRC.
The insurance industry in the Labuan International Business and Financial Centre (LIBFC) showed higher profitability in 2019, according to the Labuan Financial Services Authority (Labuan FSA) in its Market Report 2019 released yesterday.
Fraud is becoming an increasing concern as most of the staff of majority of organisations are working remotely due to the social distancing and national lock-downs imposed due to coronavirus pandemic.
State-run Life Insurance Corporation of India (LIC) contributed 50.5% of total first-year individual single and non-single premium income in the financial year ended 31 March 2020 (FY2020) compared with 61.3% in FY2010, notes CARE Ratings.
South Korea's insurers saw their profits decline in the first quarter from a year earlier due to increased insurance operating losses, according to the preliminary data from the Financial Supervisory Service (FSS) released yesterday.
The Life Insurance Association, Singapore (LIA Singapore) recorded a total of S$965.8m ($678m) in weighted new business premiums for 1Q2020, a 10% increase from the same quarter in 2019.
19 out of 22 foreign owned non-life insurers operating in China reported net profits last year, according to data shown in their respective annual reports.