Gross Premiums Written (GPW) in the UAE are predicted to grow by approximately 5% in 2022, says S&P Global Ratings.
Total premiums in Turkiye's insurance sector surged by 93% in the first half of this year to TRY90.9bn ($5.1bn) compared to the corresponding period of the previous year, according to statistics from the Insurance Association of Turkiye (TSB).
Abu Dhabi National Insurance Company (ADNIC), one of the leading regional multi-line insurance providers for both corporates and individuals, recorded gross written premiums of AED3.23bn ($1.21bn)in the first half of 2022. This represents an increase of 20.9%, compared to AED2.67bn for the corresponding period in 2021.
Emirates Insurance (EIC) has a track record of strong operating performance, reporting a five-year (2017-2021) weighted average return on equity of 9.5%, says AM Best.
CITIC Prudential Life (CPL), life insurance giant Prudential's 50-50 joint venture in China, saw annual premium equivalent (APE) sales growth of 13% to $507m in 1H2022 despite headwinds from COVID-19-related restrictions.
The financial performance of Hong Kong-based FWD General Insurance (FWD GI) is expected to continue to improve, despite premium growth volatility from a shifting product mix and pressure on the combined ratio from IT investments, says Fitch Ratings.
Singapore's life insurance industry recorded a total of S$2.63bn ($1.92bn) in weighted new business premiums for 1H2022, a slight contraction of 1.9% as compared to the corresponding period in 2021, according to the Life Insurance Association, Singapore (LIA Singapore) that yesterday unveiled the industry's results for the first six months of this year.
Sydney-headquartered QBE Insurance Group, one of the world's top 20 general insurance and reinsurance companies, has announced that its net profit after tax attributable to equity holders of the company stood at $151m for the first half of this year, 66% down from $441m in the corresponding half in 2021.
The Saudi insurance market is expected to see Gross Premium Written (GPW) grow by 5%-10% in 2022, according to S&P Global Ratings.
Insurance companies in Taiwan reported a pre-tax profit of NT$166.9bn ($5.6bn) for the first six months of this year, with life insurers performing better than non-life companies.