The unaudited 1Q2024 net profits reported by China's five major 'A-share'-listed insurance groups amounted to a combined CNY83bn ($11.5bn), 9.2% lower than in the corresponding quarter in 2023.
China Life Insurance, the nation's largest life insurer, has announced that its net profit fell year on year by 9.3% in 1Q2024 as investment yields declined.
PICC Group has reported a 23.5% plunge in net profits attributable to owners to CNY8.96bn ($1.24bn) in the first quarter of 2024, compared to the corresponding period in 2023.
Motor insurance premiums accounted for 43.7% of non-life insurers' total premiums in 1Q2024, representing a drop of one percentage point from 44.7% in 1Q2023, according to data released by the National Financial Regulatory Administration (NFRA).
Aviva-COFCO Life Insurance Co has maintained solid premium growth over the past few years, reporting a 43% increase in premium income in 2023, mainly driven by the strong growth of its long-term regular-premium savings products, notes Moody's Ratings.
Economies in developing Asia and the Pacific have an opportunity to reap a "silver dividend" in the form of additional productivity from older people, which could boost gross domestic product in the region by 0.9% on average.
Around four out of 10 (43%) policyholders in India who lodged medical insurance claims in the past three years faced hurdles in getting their claims paid, according to a survey by LocalCircles, a social media platform for the community, governance and urban daily life.
The Tanzanian life insurance market offers numerous growth opportunities, says the international professional services firm Deloitte.
Qatar Insurance Company (QIC Group, QIC), the leading insurer in Qatar and the Middle East North Africa (MENA) region, has reported a net profit of QAR194m ($53.3m) for the first quarter of 2024, 11% higher than the QAR175m posted for the corresponding quarter in 2023.
Manulife Cambodia has introduced Manulife Premier, a new, comprehensive life insurance solution designed to offer entrepreneurs, SMEs, and affluent individuals with a financial protection plan and a legacy for a better future for their future generations.