The Taiwanese regulator's latest adjustments and transitional measures for interest-rate risk will ease the negative spread pressure on life insurers and help them to manage asset-liability duration gaps under the localised Insurance Capital Standards (TW-ICS) and IFRS 17, Fitch Ratings says.
The surge in inflation influenced much of 2022, resulting in a tightening of monetary policy - and in turn - capital market volatility and a depreciation of currencies in some emerging markets, according to a recent report by Malaysian Re.
Japanese life and non-life insurers' underwriting fundamentals are likely to remain healthy overall in 2024, mainly because of waning effects from claims arising from the Covid-19 pandemic, Fitch Ratings says. As a result, Fitch has a neutral sector outlook for Japanese insurers.
Malaysian Reinsurance remains focused on gradually expanding its overseas business while reducing dependence on local business for growth, says Fitch Ratings. The share of overseas business grew to 52% of gross premiums in the financial year ended 31 March 2023 [FY2023] (FY2022: 48%), overtaking the domestic share for the first time.
The insurance sector in Nigeria looks likely to miss its target of achieving NGN148.30bn ($188m) from third-party motor insurance by 31 December, as against NGN56.76bn recorded in 2022.
Swiss Re has announced new IFRS targets, including a net income of more than $3.6bn for 2024 and a multi-year ROE of more than 14%.
Dubai National Insurance & Reinsurance (DNI) has a track record of strong operating performance, as demonstrated by a five-year (2018-2022) weighted average return-on-equity ratio of 8.2%, says AM Best.
The underwriting performance of Zking Property & Casualty Insurance (ZKI) is expected to remain profitable in 2023, says Fitch Ratings.
Sentiment in the insurance market in China is upbeat about the prospects for the sector in 2024, say several analysts.
The mainland Chinese insurance industry grew by 11% in the first three quarters of this year to CNY4.25tn ($601bn), according to data released by the National Administration of Financial Regulation (NAFR).