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Financial Performance tag returned 831 results

  • Swiss Re releases financial report for 1H2020, sees net loss of $1.1bn

    Swiss Re reported a net loss of $1.1bn for the first half of 2020 after booking claims and reserves related to COVID-19 of $2.5bn. Excluding the impact of COVID-19 losses, net income amounted to $865m for the period, reflecting a strong underlying business performance across the group.

    AIRPlus | 03 Aug 2020
  • UAE: Orient Insurance posts 4.4% increase in net profit to US$77m for 1H2020

    Dubai-based Orient Insurance (A/Stable/--) has posted net profits of AED282.3m ($77m) for 1H2020 from AED270.3m for the first six months of 2019, noted S&P Global Ratings.

    Middle East | 02 Aug 2020
  • Most non-life insurers post higher premium income in 1H

    Among the 88 property insurance companies which have filed their interim financial reports, 55 increased their premium income in the first half of this year despite the COVID-19 pandemic. The remaining 33 reported lower premium volumes.

    China | 31 Jul 2020
  • China: Insurance premiums show 6.5% growth in 1H

    China's insurance sector saw premium income increase by 6.46% in the first half of this year to CNY2.72tn ($388bn) compared to the corresponding period last year.

    China | 31 Jul 2020
  • Asia: Canada's Sun Life sees region contributing 25% of income in 5-6 years

    Sun Life Financial expects Asia's contribution to its income to rise to about 25% in five to six years, from 18% at present, driven by its push to sell insurance products via digital channels and higher demand after the coronavirus pandemic, reported Reuters.

    Asia | 30 Jul 2020
  • Turkey: Insurance market surges by 21% in 1H

    The Turkish insurance market generated total premium of TRY40.22bn ($5.8bn) in the first half of this year, an increase of 21% compared to the corresponding period in 2019, according to data released by the Insurance Association of Turkey (TSB).

    Middle East | 29 Jul 2020
  • Spike in business insolvency expected at the end of the year

    COVID-19 is creating an "insolvency time bomb", with the bulk of insolvencies expected to occur largely between the end of 2020 and 1H2021, according to a recent report by Allianz.

    AIRPlus | 29 Jul 2020
  • Singapore: Great Eastern reports 1H2020 net profit of US$240m

    Great Eastern Holdings (GEH) yesterday announced its financial results for the half year (1H20) ended 30 June 2020, showing a 35% fall in profit attributable to shareholders to S$331.4m ($240.4m), compared to the corresponding period last year. Operating profit increased by 57% to S$484.3m during the first six months.

    Asia | 29 Jul 2020
  • Qatar: QIC posts double-digit GWP growth in 1Q, net results turn red

    Qatar Insurance Company (QIC), the leading insurer in Qatar as well as the Middle East North African region, witnessed a robust 13% year-on-year jump in gross written premium (GWP) to QAR7.2bn ($2bn) in the first half of this year despite challenging market conditions.

    Middle East | 28 Jul 2020
  • Indonesia: Reinsurer shows significantly improved financial results for 2019

    Tugu Reasuransi Indonesia (Tugure) posted gross premiums of IDR3.06tn ($212m), an increase of 31% compared to 2018's IDR2.33tn, according to the company's president director Adi Pramana.

    Asia | 28 Jul 2020

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