The Bahraini insurance market saw a growth of 3.1% during the first half of this year, with insurance premiums reaching BHD151.49m, compared to BHD146.86m in the corresponding period of 2022, according to data from the Central Bank of Bahrain (CBB).
The Pakistani insurance industry grew by 28% in terms of gross premiums in 2022, according to the report "Insurance Industry Statistics 2022" released by the Securities and Exchange Commission of Pakistan (SECP).
The non-life insurance market in South Korea has been demonstrating resilience over the last few years, and its premium volume is expected to grow by 4.4% to KRW125.4tn ($92.5bn) in 2023, according to a blog posted on the website of Korean Re.
Tokio Marine & Nichido Fire Insurance (TMNF) has a track record of consistent premium growth and a robust bottom line, supported by its diversified business portfolios and a five-year average return on equity of 5.4% (fiscal year 2018 - 2022) on a consolidated basis, as calculated by AM Best.
Whilst the life operations of East Africa Reinsurance Company (EARe) have generally been profitable, the reinsurer recorded a breakeven underwriting performance in its non-life business, which accounted for over 70% of total premiums over the past five years (2018-2022), notes AM Best.
The financial results of reinsurers that participated in the "South African Insurance Industry Survey 2023" are largely characterised by the impact of several Nat CAT events in 2022, and the recovery of mortality levels experienced by the industry following the stabilisation of the life insurance environment that was plagued by the impacts of the COVID-19 pandemic.
Online business is expected to boost the Nigerian insurance sector, helping it to end 2023 with an expected gross premium of NGN1tn ($1.28bn) compared to NGN726bn in 2022.
General savings insurance premiums in South Korea are expected to fall by 25% mostly due to the base effect from the surprisingly high growth in 2022, according to a blog posted on the website of Korean Re.
China's insurance industry chalked up premium income of CNY3.87tn in the first eight months of this year, according to statistics released by the National Administration of Financial Regulation (NAFR). The figure represented a growth of 11.9% over the corresponding period in 2022.
The insurance market in Korea is expected to decline by 0.7% in 2023 compared to an increase of 11.6% in 2022, with total premiums projected to reach KRW250.9tn ($186bn), according to a blog on the website of Korean Re.