China's auto insurance market has provided remarkable figures in its latest report. The industry has undergone a major transformation since the comprehensive reforms of 2020. With changes in pricing structures, the implementation of unified reporting and execution, industry-wide self-discipline, and stricter regulatory oversight, auto insurance has shifted onto a sustainable growth trajectory.
China's insurance industry maintained strong growth in 2024, with total original insurance premium income reaching approximately CNY5.7tn($798bn), marking an 11.15% year-on-year increase, 2.01 percentage points higher than in 2023. This also marks the third consecutive year of growth in original insurance premium income since the industry's deep transformation.
The Brand Finance Global 500 2025 report was officially released in Davos, Switzerland, highlighting the world's most valuable brands. The report reveals that over 60 Chinese brands have made it onto this year's ranking of the 500 most valuable global brands.
These are the highlights for all events and updates across the industry this week.
Paris-headquartered Arundo Re has announced that its new non-life reinsurance business in Asia jumped by a robust 33% at the 1 January renewals.
WTW has today announced financial results for the fourth quarter ended 31 December 2024.
Sukoon Insurance Company (Sukoon) achieved net profits after tax of around AED266.8m ($72.7m) in 2024, compared to AED257.4m in the preceding year, a growth of 3.6%. Profit before tax reached AED291.5m by the end of 2024, a growth of 13 % year-on year.
Data from the Insurance Regulatory Commission of Sri Lanka shows that the country's insurance industry grew by 16.5% YoY in the third quarter of the current financial year.
Total premium income for the insurance market in Egypt registered notable growth in the period between January and November 2024, according to the Financial Regulatory Authority (FRA) monthly report.
The MEA region is poised for economic and (re)insurance market growth in 2025, driven by diversification efforts, infrastructure investments and rising demand for insurance and reinsurance solutions, according to a report released by Gallagher on the Middle East and Africa regional markets.