The insurance industry in Turkiye posted a 123.2% surge in total premiums to more than TRY235bn ($12.5bn) in 2022 compared to 2021, according to the Insurance Association of Turkiye (TSB).
The Indonesian Shariah Insurance Association (AASI) forecasts that the Islamic insurance market will grow by 9% -11% in 2023 in terms of contributions.
The ongoing gap between return-on-equity ratios and the overall cost of capital is one of the key drivers for higher reinsurance prices going forward, according to a new AM Best report capturing the views of panelists from a recent reinsurance industry briefing.
India's retail health insurance sector has the potential to give a 20% yearly return on equity (RoE), according to a report by Mumbai-headquartered financial services firm Avendus Capital.
Comparing insurers' IFRS 17 results will be difficult initially due to differences between companies' approaches under the accounting standard, Fitch Ratings says in a new report.
The insurance regulator will continue to implement solutions to support the development of the insurance market in 2023 and beyond, according to Mr Ngo Viet Trung, director of the Insurance Management and Supervision Department of the Ministry of Finance.
Nippon Life Insurance Company (Nissay) has a track record of consistently strong operating performance, mainly supported by a stable trend of core operating profit and a five-year average return-on-equity of 7.2% (fiscal years 2017-2021), as calculated based on comprehensive income, AM Best has pointed out.
The performance of the insurance industry in China in 2023 is expected to improve compared to 2022, according to insurance experts. Prospects for the property insurance sector are bright.
Insurance experts, commenting on the outlook for the life insurance market in 2023, say that life insurers are expected to continue to find their feet in a sluggish market. New business of life insurance companies is expected to continue generally to be under pressure.
China's five biggest listed insurance groups raked in combined premium income of CNY2.56tn ($378bn) in premium income for the the full year of 2022, 2.9% higher than in 2021.