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Financial Performance tag returned 1115 results

  • Groupama AVIC's net loss in 2020 wipes out 2015-2019 profits

    Groupama AVIC Property Insurance, a Sino-French joint venture, has released its 2020 annual report showing that it made a loss of CNY134.2m ($20.7m) for the financial year ending 31 December 2020.

    China | 23 Apr 2021
  • Local insurance startup seeks to turn operations around

    Chongqing-headquartered Three Gorges Life has named this year as the year of transformation from pursuing scale to focussing on value, after suffering losses in the three full years since it was established in December 2017.

    China | 23 Apr 2021
  • Saudi Arabia: 29 insurers post aggregate GWP of over US$10bn in 2020

    The 29 listed insurance companies on the Saudi bourse reported an aggregate GWP of SAR38.3bn ($10.2bn) in the year ended 31 December 2020, 3.5% higher than in 2019, according to an analysis by regional boutique actuarial consulting firm, Badri Management Consultancy.

    Middle East | 22 Apr 2021
  • India: Life insurers face the low base effect

    Life insurers in India reported high individual APE growth of 90% y-o-y in March 2021 on a low base translating to 40% y-o-y growth in the fourth quarter of financial year 2021 and 8% y-o-y for financial year 2021.

    AIRPlus | 22 Apr 2021
  • India: LIC posts record first-year premium income in FY2021

    India's biggest life insurer, the state owned Life Insurance Corporation (LIC), has reported its highest-ever annual new business premium that amounted to INR1.84tn ($24.4bn) for the financial year ended 31 March 2021 (FY21). The figure represented growth of 4% over FY20's INR1.77tn.

    Asia | 22 Apr 2021
  • Saudi Arabia: 29 listed insurers post 42% jump in aggregate net profit in 2020

    The aggregate net profit generated by 29 insurance companies in Saudi Arabia jumped by 42% to SAR1,972m ($526m) in 2020 compared to profit of SAR1,393m in 2019, according to an analysis by Badri Management Consultancy, a regional boutique actuarial consulting firm.

    Middle East | 21 Apr 2021
  • Lebanon: Insurers striving to cope in difficult economic times

    Some insurance companies struggling to re-assert themselves and the Association of Insurance Companies in Lebanon (ACAL) has begun to strategise how to rebuild the sector's public image, which took a beating last year.

    Middle East | 19 Apr 2021
  • UAE: Oman Insurance Co's operating performance predicted to remain strong

    Oman Insurance Company (OIC), one of the UAE's biggest insurers, has a track record of strong operating performance, demonstrated by a 10-year (2011-2020) weighted return-on-equity (ROE) ratio of 8.2%, notes AM Best.

    Middle East | 18 Apr 2021
  • Prolonged low interest rates pose long-term implications for APAC insurers

    Lower-for-longer interest rates have a number of implications for the credit profiles of Asia-Pacific (APAC) insurers, with the overall impact dependent on existing product mixes and investment portfolios according to a Fitch Ratings report published in April 2021.

    AIRPlus | 16 Apr 2021
  • Qatar: Non-underwriting operations shore up QGIRC's performance

    Earnings from real estate investments and developments have become the key drivers of operating performance for Qatar General Insurance & Reinsurance Company (QGIRC), says AM Best.

    Middle East | 15 Apr 2021

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