Listed insurers in Qatar posted a 56% jump in combined profits to QAR385m ($106m) for the first quarter of the year from QAR247m for the corresponding quarter in 2022, according to an analysis by Badri Management Consulting, an international company offering actuarial, strategic and technology consulting services.
The Korean insurance market performed more strongly than expected in 2022 thanks to a surge in retirement annuity premiums, says Korean Re in a blog about the financial performance of insurers.
Bahrain National Holding Company (BNH), the parent company of Bahrain National Insurance Company and Bahrain National Life Insurance Company, reported a net profit attributable to shareholders of BHD1.74m ($4.62m) for the first quarter of this year.
The Financial Services Council (FSC) of Australia has announced soon-to-be-implemented New Life Code of Practice (new life code), which will introduce over 50 comprehensive consumer protections that will change the way customers interact with their life insurers.
The overall profitability of Japanese life insurers is likely to bounce back in the financial year ending 31 March 2024 (FYE24), says Fitch Ratings in a new report.
The overall credit fundamentals of Japanese life insurers will remain resilient in the financial year ending March 2024 (FYE24), said Fitch Ratings in a new report.
Union Insurance Company reported a significant net loss of NT$1.3bn ($42.3m) for the financial year ended 31 December 2022, compared with a net profit of NT$697m for the full-year 2021, predominantly attributed to pandemic insurance claims, notes AM Best.
The Hong Kong insurance industry saw a 7% decrease in total gross premiums to HK$147.2bn ($18.8bn) in the first quarter of 2023 compared to the same period in 2022, according to provisional statistics released by the Insurance Authority (IA)
The insurance sector in Cambodia saw total premiums increase by 5.5% to $96m in the first quarter of this year compared to the corresponding quarter in 2022, according to the Insurance Association of Cambodia (IAC).
Qatar Islamic Insurance Group's (QIIG) ability to generate strong operating returns is demonstrated by its five-year weighted average return-on-equity ratio of 13.8% (2018-2022), says AM Best.