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).
Two-thirds (68%) of the top executives polled in the P&C insurance sector expect that the premium income of the non-life market will grow by 5% to 10% next year, according to the Taiwan Insurance Institute (TII).
Mid-sized insurer Lonpac Insurance is expected to maintain its strong operating performance over the medium term, says AM Best.
Suncorp Group Limited's (SGL) underwriting profitability is expected to see a modest deterioration over the next 12 to 24 months as higher natural hazard costs and rising reinsurance expenses offset strong premium rate increases, says Fitch Ratings.
Oman Re, the sole reinsurer in the Sultanate of Oman, says that it recorded a 35% surge in net profit after tax, reaching OMR1.8m ($4.7m) as opposed to OMR1.3m during the first nine months of 2022.