Following a second consecutive year of robust financial performance in 2024, Europe's four largest reinsurers are well positioned to navigate potentially less supportive market conditions in 2025, says a new report by Fitch Ratings.
Sukoon Takaful has reported a significant turnaround and a return to profitability in the financial year ended 31 December 2024.
Singapore's general insurance sector continued its upward trajectory in 2023, recording solid growth across both domestic and offshore segments, according to the General Insurance Association of Singapore (GIA).
The year 2024 turned out to be more challenging than 2023 for many smaller insurance companies, says Badri Management Consulting, an international company specialising in actuarial services.
Gross written premiums in the UAE insurance sector rose by 21.4% in 2024 to AED64.8bn ($17.6bn), according to the Central Bank of the UAE (CBUAE).
Union Insurance Company has reported strong financial results for 2024. The company's net financial results improved sharply to net profits of AED38.3m ($10.4bn) in 2024 from a net loss of AED2.5m in 2023.
Gross written premiums generated in the insurance market in Egypt reached EGP11.7bn ($232.6m) in January, up from EGP8.4bn achieved in the same month in 2024, according to the Financial Regulatory Authority in its latest monthly publication.
As earnings season kicks off, Ping An takes the lead by releasing the first annual report among A-share (stocks listed on mainland China exchanges) listed insurance companies.
Recently, AIA Group Limited announced its full-year 2024 results. Its wholly owned subsidiary in mainland China, AIA Life Insurance (AIA Life), achieved a 20% increase in new business value and a 10% growth in annualized new premiums.
The property insurance industry has always been characterized by a "winner-takes-all" situation in China, with leading insurers dominating the majority of the market share. In this market environment, ZhongAn Online (ZhongAn) has emerged as a groundbreaking force in recent years, with rapid growth in total premiums and a quick rise into the top 10.