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.
Leading global reinsurer Munich Re generated a profit of EUR1,376m ($1,409m) in the first six months of 2022 and EUR768m in the second quarter.
The Comptroller and Auditor General (CAG) has recommended that public-sector insurers stop subsidising group health insurance business through other insurance branches, given the huge losses posted in group health business.
Doha-headquartered Qatar Insurance Company (QIC), the leading insurer in Qatar and the Middle East North African (MENA) region, has registered a strong net profit of QAR401m ($110m) for the first half of this year which ended on 30 June 2022. This represents a 14.2% jump from QAR351m posted for the corresponding half last year, despite challenges in the global environment.
One of Australia's biggest financial services companies, Brisbane-headquartered Suncorp has announced that its insurance operations in Australia (dubbed 'Insurance Australia') reported profit after tax of A$174m ($122m) for the financial year ended 30 June 2022 (FY22), a 68.2% fall compared to FY21.
Health insurer, Bupa Arabia for Cooperative Insurance Company, Saudi Arabia's biggest insurer, saw its net profits before zakat fall by 15.7% to SAR428.98m ($114.16m) for the first half of 2022, compared to SAR509.03m in 1H2021.
Kuwait Reinsurance Company has announced a net profit of KWD4.0m ($13.0m) for the first half of 2022, 14.7% higher than the KWD3.5m posted for the corresponding half in 2021.
China Rongtong Property & Casualty Insurance, a defence-linked insurer, has reported net profits of CNY18.57m ($2.75m) for the second quarter of this year.