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.
Vietnam's non-life insurance market will likely resume its growth momentum as global demand recovers and benefits the domestic economy, according to Mr Ken Lau, senior financial analyst at AM Best.
Motor insurers in Turkiye announced a combined loss of TRY10.6bn ($367m) in automobile third-party liability insurance ( called traffic insurance) for the first nine months of this year, a jump of 34% year on year, according to data from the Insurance Association of Turkiye (TSB).
The operating performance of Petrolimex Insurance Corporation (PJICO) is regarded as adequate, evidenced by a five-year weighted average return-on-equity ratio and combined ratio of 12.2% and 97.1% (2018-2022), respectively, says AM Best.
Mid-tier insurer National Insurance Company (NIC) has a track record of adequate operating performance, with a five-year (2018-2022) weighted average return-on-equity ratio of 5%, says AM Best.
Private general insurers increased their combined market share to 53.58% in gross direct premium underwritten in the first half of the current financial year ending 31 March 2024 (FY2024) from 50.81% in the corresponding half last year.
The Insurance Council of Australia (ICA) has released an updated version of its climate change roadmap, outlining the industry's commitment to achieving net zero emissions by 2030 for operations and 2050 across the entire value chain.
Tugu Reasuransi Indonesia's (Tugure) GPW growth slowed to 3% year on year in the first nine months of this year (9M23), compared with 24% growth in 2022, as it aimed to improve its underwriting result rather than focus on the top-line, notes Fitch Ratings Indonesia (Fitch).
AzRe Reinsurance, the only reinsurance company in Azerbaijan, has achieved strong operating results in recent years, as demonstrated by a five-year (2018-2022) weighted average return on equity of 19.8%, notes AM Best.
China's five biggest 'A' listed insurance companies posted a combined premium income of CNY2.39tn ($336.89bn) in the first 10 months of this year, rising by 5.7% compared to the corresponding period in 2022.