China's insurance sector maintained steady growth in the first half of 2025, with both life and non-life segments showing solid performance. According to data released by the National Financial Regulatory Administration (NFRA), life insurers posted particularly strong momentum in June, with original premium income rising 16.3% year-on-year and 21.5% month-on-month.
China's Insurance Association has announced a new reference rate for ordinary life insurance products at 1.99%, down 14 basis points from the previous quarter. This marks the second consecutive quarter where the benchmark rate has trailed the industry's maximum pricing level by over 25 basis points, triggering a regulatory requirement for insurers to revise their product offerings within two months.
China's insurance industry is accelerating efforts to streamline operations, with 1,799 branches closed and only 225 new ones opened as of July 18-resulting in a net reduction of 1,574, according to the National Financial Regulatory Administration (NFRA).
These are the highlights for events and updates across the insurance industry this week.
The combined net profits of eight listed insurance companies in Oman reached OMR17.8m ($46.3m) in 1H2025, from a net loss of OMR10.6m in 1H2024, according to Badri Management Consultancy, an international actuarial and risk consulting firm.
The Turkish insurance sector demonstrated strong growth in the first half of 2025, according to data released by the Insurance Association of Turkiye (TSB).The overall real growth rate for the insurance industry was 12.3%.
Oman Re, the Sultanate of Oman's sole reinsurer, has announced strong financial results for the six months ended 30 June 2025, highlighting the company's operational resilience and steadfast commitment to strategic delivery.
The Life Insurance Association of Japan (LIAJ) elected Yukinori Takada (Director, Representative Executive Officer, President & CEO of SUMITOMO LIFE INSURANCE COMPANY) as its 63rd chairperson at the board meeting held on 18 July 2025.
Sukoon Insurance (the Group) showed favourable results and forward momentum in the first half of 2025 across all dimensions of its business.
The operating performance of Egyptian Takaful Properties and Liabilities Insurance Company (EGTAK) is assessed as adequate, says AM Best. The company reported a five-year (2020-2024) weighted average return-on-equity ratio and combined operating ratio of 24.7% and 98.5%, respectively.