Mid-tier non-life insurer Tower is expected to decrease its expense ratio over the medium term as the company grows its premium base and improves efficiency through IT transformation, according to AM Best.
Ping An Insurance (Group) Company of China (Ping An) has announced that its net profit attributable to shareholders stood at CNY36,709m ($5,071m) in the first quarter of this year, a fall of 4.3% compared to the corresponding quarter of 2023.
The takaful sector remains a small player within Islamic finance, accounting for less than 2% of the total market. Despite this, the global takaful market surpassed $30bn in 2023, according to the Arab Monetary Fund (AMF).
Corporate valuation can be boosted by adopting proactive climate risk management according to a new study by the University of Florida.
Nearly three quarter of insurers are investing in private markets or plan to do so as firms put excess cash to work according to a global survey.
India's life insurance market posted a 2% increase in total new business premium (NBP) to INR3,780bn ($45.4bn) in the financial year ended 31 March 2024 (FY2024), according to data from the Life Insurance Council.
Moody's Ratings (Moody's) has changed the outlook to 'Stable' from 'Negative' of Peak Reinsurance (Peak Re) and it affirms the reinsurer's 'Baa1' insurance financial strength rating (IFSR) and the 'Baa3 (hyb') backed subordinated debt rating of the subordinated perpetual securities issued by Peak Re (BVI) Holding'. These securities are irrevocably and unconditionally guaranteed by Peak Re.
The operating performance of the Sanlam insurance group was resilient in 2023, supported by life underwriting performance, and strong growth in life premiums, especially in Asia driven by India (albeit dampened by weaker performance in Malaysia), according to Fitch Ratings.
The combined ratio of property and casualty insurance companies increased in 1Q2024 because of higher claims paid for damage from weather events such as snow and frost, say insurance industry analysts.
China's five major 'A-shares' listed insurance groups showed improvement in their topline performance in the single month of March 2024, which helped to narrow the decline in cumulative premium income in 1Q2024 compared to that in the first two months of the year.