Health insurance, which includes both compulsory and non- compulsory lines, accounted for 59.7% of the 2021 total market gross written premiums (GWP) in Saudi Arabia. Health GWP in 2021 amounted to SAR25.11bn ($5.63bn) in underwritten premiums, according to "The Saudi Insurance Market Report 2021" released last week by the Saudi Central Bank (SAMA).
The profitability of the motor insurance branch in Morocco has deteriorated sharply in recent years to the point of pushing the regulator into introducing a provision for price risk to discipline the market.
Samsung Life Insurance, South Korea's top life insurer, has disclosed that its 1Q2022 net profit plunged by 72.9% due to losses in its variable life insurance business amid recent stock market volatility.
Munich-headquartered global insurer Alliianz has announced that its net income attributable to shareholders stood at EUR0.6bn ($0.62bn) for 1Q2022, down 78.1% from the corresponding quarter in 2021.
Total net written premiums (NWP) increased by 8.2% to SAR34.6bn ($9.2bn) in 2021 from SAR31.99bn in 2020, according to "The Saudi Insurance Market Report 2021" released last week by the Saudi Central Bank (SAMA).
Qatar's insurance companies witnessed robust growth in net premium, while their net claims declined steeply in the first quarter of 2022, according to data released by the Qatar Central Bank (QCB).
Insurance group Fidelidade Macau has posted a net profit of MOP42.2m ($5.2m) for 2021, representing a growth of 24% when compared with 2020.
The average annual motor insurance premium charged in the first quarter of this year was in the range of CNY1,000 ($147) to CNY3,000, according to the 1Q2022 quarterly solvency reports filed by 59 property insurers as of 9 May. More specifically, the average auto premium for the 59 companies amounted to CNY2,015.
Over 80% of 155 insurance companies in China that have released their 1Q2022 solvency reports show a decline in solvency ratios as of 31 March 2022 compared to levels in 2021.
Abu Dhabi National Insurance Company (ADNIC), a leading regional multi-line insurer, has reported a net profit of AED84.7m ($23m) for the first quarter of this year.