Cathay Life Insurance has posted a net income of NT$61.04bn ($2.19bn) for the first four months, topping the NT$52.54bn reported for the whole of 2020, while its non-life insurance, securities and investment trust operations also saw their net profits hitting new highs.
Life insurance business in Indonesia has begun to improve, as is indicated by significant growth in the sector in the first three months of this year.
Beijing-headquartered BOC Samsung Life Insurance has announced net profits of CNY67.15m for the 2020 financial year, 23% higher than in 2019 despite the ravages of the COVID-19 pandemic faced last year, according to the insurer's 2020 annual report.
Motor underwriting profit for the first quarter of this year plunged by 72% to CNY2.63bn ($407m), due to comprehensive auto insurance reforms launched last September.
Sino-Korea Life Insurance, a joint venture, has reported net profits last year, its eighth year of establishment, according to the company's annual report for 2020.
The National Reinsurance Corporation of the Philippines (Nat Re), the country's national reinsurer, has announced that it earned PHP120m ($2.5m) in net income in 2020, down 24% from PHP157m in 2019, as stronger underwriting results were weighed down by lower investment income.
Increasing frequency and severity of extreme environmental conditions will test the limits of risk diversification over the coming decade according to a new report by Fitch Ratings.
COVID-19 will create fresh supply-chain risks for businesses in 2021 after disrupting the global flow of operations when the pandemic broke in 2020 according to business standards group The British Standards Institution (BSI).
Global commercial insurance prices increased by 18% in the first quarter of 2021 according to the Global Insurance Market Index released by Marsh.
The Philippine insurance industry posted an 8.6% fall in net income to PHP41.24bn ($858m) last year, compared to PHP45.12bn in 2019, due to the impact of the COVID-19 pandemic, according to the 2020 Industry Performance report released by the Insurance Commission.