One of the UAE's biggest insurer, Sukoon (formerly called Oman Insurance Company) has a track record of strong operating performance, notes AM Best.
GIC Re's financial results are summarised below:
The prospective operating results of Qatar General Insurance & Reinsurance Company (QGIRC) are expected to be supported by the company's increased focus on selective underwriting, along with steady commission income, says AM Best.
With several banks cutting interest rates on customer deposits since mid-May, wealth management and insurance products have become the focus of attention.
Taiwan Life Insurance, among the top 10 life insurers in Taiwan, is expected to turn profitable after the insurer posted a return on equity (ROE) of -3% in 2022, against a three-year average of 8%, notes Fitch Ratings.
The profits of insurers listed on the Kuwait Stock Exchange increased by 24.5% for the first quarter of 2023 to KWD21.52m ($70m) compared to the corresponding quarter in 2022.
The Moroccan insurance sector's growth momentum, which started in 2021, continued in the first quarter of 2023.
Kuwait-headquartered Gulf Insurance Group (GIG) has improved its business profile, earnings and assets diversification following its integration of AXA's operations in Saudi Arabia, the UAE, Qatar, Oman and Bahrain that it acquired in September 2021, notes Moody's Investors Service.
Asia Pacific insurers' underwriting fundamentals are likely to remain steady despite short-term volatility in investment markets caused by higher interest rates, Fitch Ratings says. At the same time, headwinds from the COVID-19 pandemic and related measures are easing.
The performance of China's insurance sector was better than expected in the first three months, the new regulatory body tasked with supervising the country's financial sector said in its first work meeting yesterday.