India's retail health insurance sector has the potential to give a 20% yearly return on equity (RoE), according to a report by Mumbai-headquartered financial services firm Avendus Capital.
Comparing insurers' IFRS 17 results will be difficult initially due to differences between companies' approaches under the accounting standard, Fitch Ratings says in a new report.
The insurance regulator will continue to implement solutions to support the development of the insurance market in 2023 and beyond, according to Mr Ngo Viet Trung, director of the Insurance Management and Supervision Department of the Ministry of Finance.
Nippon Life Insurance Company (Nissay) has a track record of consistently strong operating performance, mainly supported by a stable trend of core operating profit and a five-year average return-on-equity of 7.2% (fiscal years 2017-2021), as calculated based on comprehensive income, AM Best has pointed out.
The performance of the insurance industry in China in 2023 is expected to improve compared to 2022, according to insurance experts. Prospects for the property insurance sector are bright.
Insurance experts, commenting on the outlook for the life insurance market in 2023, say that life insurers are expected to continue to find their feet in a sluggish market. New business of life insurance companies is expected to continue generally to be under pressure.
China's five biggest listed insurance groups raked in combined premium income of CNY2.56tn ($378bn) in premium income for the the full year of 2022, 2.9% higher than in 2021.
The insurance industry in China chalked up growth of 4.95% year on year in the first 11 months of 2022 to CNY4.37tn ($645.5bn), according to statistics released by the CBIRC.
Listed insurance companies in Oman saw an increase of 30% in their combined premium income to OMR523m ($1,359m) the financial year ended 31 December 2022 (FY2022), notes Badri Management Consultancy (BMC), a UAE-based actuarial consulting company.
A planned capital injection to Post-Telecommunication Joint Stock Insurance Corporation (PTI) has faced ongoing delays, notes AM Best. This capital injection, when effected, would substantially relieve pressure on the company's risk-adjusted capitalisation, the global credit rating agency says.