A record number of small business owners in the UK are planning to close their firms over the coming twelve months, putting the UK on course to lose more than a quarter of a million businesses, according to the latest Small Business Index (SBI) of UK.
Ghana Re has a track record of positive operating results, which are considered adequate when the high level of inflation in the company's key markets is taken into account, says AM Best.
P&C insurance companies reported combined profits of CNY5.01bn ($774m) for the first 11 months of 2020, a plunge of CNY54.07bn or 91% from the corresponding period in 2019.
One of Australia's biggest insurers, Insurance Australia Group (IAG), will take an A$1.15bn ($891m) hit to earnings before tax in its half-year (1 July to 31 December 2020) results, as it prepares for a potential flood of pandemic-related business interruption claims, according to a statement released by the company.
Egypt's biggest non-life insurer Misr Insurance Company's financial performance and earnings are deemed as strong, with a five-year average combined ratio of 90%, notes Fitch Ratings in a recent report.
Middle East Insurance Company (MEICO), one of Jordan's biggest insurers, has a track record of operating profitability, supported by positive underwriting results, as evidenced by a five-year (2015-2019) weighted average combined ratio of 95.1%, and modest investment returns, says AM Best in a report last month.
Insurers in Algeria have proposed certain measures to mitigate the negative effects of several adverse developments in the industry, according to Mr Hassen Khelifati, CEO of Alliance Assurances.
The growth rate of the aggregate premium income of five major listed insurance companies in China slowed to 4.3% year-on-year for the first 11 months of this year, compared to 5.16% for the January to November period, according to financial reports lodged by the insurers.
The current hardening of reinsurance rates would need to continue for at least a few more years to have a meaningful impact for reinsurers, many of whom are struggling to meet the cost of capital in an historically low-interest rate environment.
The Société Assurances Multirisques Ittihad (AMI Assurances) plans to more than double its share capital to TND87.39m ($32.22m) from TND40.98m at present.