he cumulative premium income of China's five largest listed A-share insurance companies for the period from January to May 2021 reached CNY1.3tn ($202.5bn), which reflected flat performance compared to the corresponding five months of 2020. The growth rate for the first five months of this year was only 0.69%.
The Orient group has a track record of consistently outperforming its peers in terms of underwriting and overall profitability, which has been largely free of material fluctuations despite severe competition and regulatory changes in the UAE market, notes AM Best.
A new market-led initiative Taskforce on Nature-related Financial Disclosures (TNFD) to support financial institutions and corporates in assessing and managing emerging nature-related risks and opportunities has been launched.
Lloyd's chief of markets is placing under-performing syndicates under the microscope. During a press briefing held last week, Lloyd's chief of markets Patrick Tiernan discussed the company's market and financial priorities for next year and beyond. He noted that Lloyd's is 'well placed' for a sustainable future and is at 'an inflection point for profitable growth'.
Better pricing will continue to support the underwriting performance of Japanese non-life groups - MS&AD Insurance Group Holdings, Tokio Marine Holdings and SOMPO Holdings - in the financial year ending 31 March 2022 (FYE22), Fitch Ratings says. Non-life insurers are benefiting from higher rates in the mainstay automobile and fire business lines.
Bangkok Insurance Public Company (BKI), the third largest general insurer in Thailand, has a strong operating performance, as evidenced by a five-year average return-on-equity ratio of 7.4% and operating ratio of 79.1% (2016-2020), says AM Best.
Private life insurers reported weak individual APE growth at 5% y-o-y in May 2021, on a low base of 31% y-o-y decline in May 2020.
Indian credit rating agency, ICRA, expects the Indian non-life industry to grow moderately in FY2022, supported by growth in the health and motor segment.
The insurance sector in Cambodia saw total gross premiums nationwide increase by 7.8% to $264.9m in 2020 despite the COVID-19 pandemic.
Total profits attributed to shareholders before zakat and tax generated by 29 listed insurance companies in Saudi Arabia amounted to SAR211.56m ($56.4m) for 1Q2021, representing an increase of 27% over the SAR166.95m for the corresponding quarter of 2020, according to a report by Badri Management Consultancy, an actuarial consulting firm in the Middle East.