Yingda Taihe Property Insurance has changed its capital increase plans following a lapse of one year. No mention was made of any update on a previous plan to go for a stock exchange listing.
Robust growth rates in key products including crop and livestock contributed to the expansion in premium income in 2021 for Zhongyuan Agricultural Insurance Co (ZYIC), AM Best points out.
Concerns have been raised about the impact of economic problems and regulations in some branches of insurance, such as traffic insurance, on insurers in Turkiye.
Total gross written premium income in the UAE amounted to AED41bn ($11.2bn) in 2021, 5.1% higher than in the AED39bn chalked up in 2020, as per estimates by the international actuarial consulting firm, Badri Management Consultancy.
The reserve volatility of Kenya Reinsurance Corporation (Kenya Re) is expected to subside now that the reinsurer has now largely exited crop business, says AM Best. Kenya Re has a recent history of severe reserve deficiencies relating to crop business.
Saudi Reinsurance Company (Saudi Re) is expected to maintain its strong balance sheet and track record of underwriting discipline and ensure risk management while pursuing growth opportunities, says Moody's Investors Service.
The Orient Insurance 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 in the UAE market, points out AM Best.
Mitsui Sumitomo Insurance Company's (MSI) operating performance has remained strong, supported by the company's consistent trend of steadily growing premium income in the past, notes AM Best.
Moody's Investors Service has placed on review for downgrade the A3 insurance financial strength rating (IFSR) of Peak Reinsurance Company (Peak Re). The outlook has been changed to "Ratings under review" from "Stable".
The five major listed insurance groups in China posted improved performance overall in May 2022, showing a 3.76% increase in aggregate premium income to CNY1,349.6bn ($201.2bn) for the first five months of this year, compared to the corresponding period last year.