Gulf Insurance Group (GIG) is expected to see its gross written premium remain broadly flat for 2024 but fall in 2025 following the revocation by the Health Ministry of a health insurance contract for retired citizens which had been awarded to the Group, according to AM Best.
Chinese insurance giant, China Life Insurance Company, has turned in an average return on equity (ROE) of 14% in 2022-2023 (2023: 11%), based on the IFRS 17 accounting standard, says Fitch Ratings.
Samsung Property & Casualty Insurance (China) [Samsung P&C China] is expected to continue to benefit from its largest shareholder, Samsung Fire & Marine Insurance (SFM), which is South Korea's biggest general insurer.
The insurance industry's total original insurance premium income reached CNY4.38tn ($622bn) in the first eight months of the year, according to data released by the National Financial Regulatory Administration (NFRA).
The Central Reinsurance Company (CCR) achieved gross premium income that increased sharply by 14.6% to DZD46.5bn ($350m) in 2023, compared to the previous financial year.
The total profits of the UAE insurance sector amounted to AED2.5bn ($681m) in 2023, compared to AED1.96bn in 2022, according to the Central Bank of the UAE (CBUAE).
While Sompo Japan Insurance (SJ) is exposed potentially to considerable equity risk from sizeable domestic stocks investments and underwriting risk from expanding overseas insurance business, it appears to have ample available capital to absorb such risks, says AM Best.
Abu Dhabi National Insurance Company (ADNIC) has a track record of strong operating performance, evidenced by a return on equity exceeding 12% in all of the last five years (2019-2023), noted AM Best.
The UAE insurance sector reported that written premiums increased by 31.2% year on year (y-o-y) in the first half of 2024 to AED35.7bn ($9.75bn), according to the latest Quarterly Economic Review issued last week by the Central Bank of the UAE (CBUAE).
Swiss Reinsurance Company's (Swiss Re') operating performance metrics, particularly in more recent years, have been supportive of a strong operating performance assessment, says AM Best.