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.
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.
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.
Gross premiums underwritten by non-life insurers grew by 5.2% to INR1.99tn ($26.4bn) for the financial year ended 31 March 2021 (FY21), according to preliminary data from the IRDAI.
An in-depth analysis conducted by Willis Re of the results of a set of 17 reinsurers shows that their reported combined ratio deteriorated from 100.6% in 2019 to 104.1% in 2020, due entirely to COVID loss reserving.
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, says Fitch Ratings.
One of Tunisia's biggest insurance groups, GAT Assurances Group, in its insurance operations has posted a technical surplus of TND23.1m ($8.4m) in 2020, 64.4% higher than the surplus of TND14m for 2019.
China Pacific Insurance (Group) Co (CPIC) has posted GWP of CNY362.06bn ($55.27bn) in 2020, a growth of 4.2% compared with 2019. Group operating profit after tax grew by 11.7% to CNY31.14bn last year, although group net profit reached CNY24.58bn, down by 11.4%.
Net profits in the non-life insurance sector in 2020 rose by 5% compared to 2019, largely because of a lower effective tax rate, according to Topline Securities. The analysis is based on the financial results of 12 listed insurance companies which in aggregate account for 83% of the capitalisation of the non-life insurance market.
China's five largest listed insurance companies last year posted a combined net profit of CNY252.3bn ($38.4bn) attributable to equity holders, representing a decline of 7.37% compared to 2019.