The Central Reinsurance Company (CCR) achieved gross premium income that increased sharply by 14.6% to DZD46.5bn ($350m) in 2023, compared to the previous financial year.
The total profits of the UAE insurance sector amounted to AED2.5bn ($681m) in 2023, compared to AED1.96bn in 2022, according to the Central Bank of the UAE (CBUAE).
While Sompo Japan Insurance (SJ) is exposed potentially to considerable equity risk from sizeable domestic stocks investments and underwriting risk from expanding overseas insurance business, it appears to have ample available capital to absorb such risks, says AM Best.
Abu Dhabi National Insurance Company (ADNIC) has a track record of strong operating performance, evidenced by a return on equity exceeding 12% in all of the last five years (2019-2023), noted AM Best.
The UAE insurance sector reported that written premiums increased by 31.2% year on year (y-o-y) in the first half of 2024 to AED35.7bn ($9.75bn), according to the latest Quarterly Economic Review issued last week by the Central Bank of the UAE (CBUAE).
Swiss Reinsurance Company's (Swiss Re') operating performance metrics, particularly in more recent years, have been supportive of a strong operating performance assessment, says AM Best.
The insurance company , El Djazair Takaful, has started to distribute its insurance surplus to insured companies and individuals, according to a statement released by the company.
Hong Kong-headquartered Taiping Reinsurance Company (TPRe) reported a net profit of HK$333.0m ($42.8m) in 2023, with a return-on-equity (ROE) ratio of 3.0% under HKFRS 17, notes AM Best.
Non-life insurer Urtrust Insurance is expected to improve its investment returns in the near-term as it continues to divest of volatile equity-type investments and focus on steadier fixed-income type investments., says Fitch Ratings.
Financial services group Discovery, which is South Africa's biggest health insurer, has reported a jump in profits for the financial year ended 30 June 2024 (FY2024).