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Financial Performance tag returned 921 results

  • Turkey: National reinsurer outlines first-year performance

    State owned Turk Reasurans has reported a string of successes in the past 12 months since it was established in September 2019 to increase domestic reinsurance capacity in Turkey.

    Middle East | 28 Oct 2020
  • Morocco: Reinsurance business outpaces direct insurance in 1H

    The premium income of insurance companies in the first half of 2020 increased by 4.6% to MAD27.3bn ($2.9bn), compared to the corresponding period last year, according to a report published in mid-October by the Insurance and Social Security Supervisory Authority (ACAPS).

    Middle East | 27 Oct 2020
  • South Africa: Largest insurer shifts focus to domestic business

    Sanlam, the largest insurance company in Africa, is refocusing on its home market and plugging holes from its largest-yet acquisition to squeeze higher returns out of its businesses, reported Bloomberg.

    Africa | 26 Oct 2020
  • Kenya: Insurance sector's 2019 underwriting losses are the worst in over 20 years

    The insurance sector in Kenya has recorded KES3.27bn ($30.05m) in underwriting losses, its worst in over two decades. The underwriting losses in 2018 stood at KES1.12bn.

    Africa | 26 Oct 2020
  • Zambia: Insurance market grows in 1H despite COVID-19

    Despite the effects of the COVID-19 pandemic on the insurance industry in Zambia, mid-year unaudited results for insurers show some growth in the sector, Insurers Association of Zambia president Ms Christabel Banda.

    Africa | 26 Oct 2020
  • Tunisia: Insurance market grows by 6.2% in 2019

    The turnover of insurance companies in Tunisia increased by 6.2% in 2019 to reach TND2.3bn ($837m), according to a recent study by Tera Finances. The growth is attributed to increases in premiums for life and non-life insurance companies.

    Middle East | 26 Oct 2020
  • China: 5 major A-share listed insurers' combined growth slows in September

    The five major A-share listed insurance companies in China have posted an aggregate premium income of CNY2.055tn ($307bn) in the first nine months of this year, an increase of 5.80% compared to the corresponding period last year. In contrast, the growth rate of these insurers for the first three quarters of the year was 6.15%.

    China | 23 Oct 2020
  • Japan: Non-life insurers' show higher operating efficiency

    Japan's non-life insurance companies have increased operating efficiency since liberalisation of the insurance industry in 1996, and have conducted mergers and business integrations since 2000. As a result, for all non-life companies, the underwriting expense ratio (other than commission and brokerage) in the financial year ended 31 March 2020 (FY2019) decreased to 15%, compared with 21% for FY1995, prior to liberalisation.

    Asia | 23 Oct 2020
  • Oman: Reinsurer's net profit jumps by 51% in first 9 months of 2020

    Oman Re, the sole reinsurer in the Sultanate of Oman, has reported net profit of OMR1.1m (2.8m) for the nine months ended 30 September 2020, representing a 51% rise compared to OMR725,000 for the corresponding period in 2019. Gross written premium increased by 25% to reach OMR21.8m in January-September 2010 against OMR17.5m for the same period in 2019.

    Middle East | 21 Oct 2020
  • Why risks are being mispriced?

    The insurance marketplace is not that far off a $300bn loss year and it is vital reinsurance and insurance-linked securities (ILS) markets price adequately for climate change risk.

    Asia Risk | 21 Oct 2020

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