New China Insurance (NCI), a listed life insurer, has announced a significant profit increase for the first three quarters of 2024.
India's non-life insurance industry reported a 7% year-on-year increase in gross direct premium (GDPU) underwritten to INR1,539bn ($18.3bn) in the first three quarters of this year, according to provisional data released by the General Insurance Council.
Sumitomo Life Insurance Company's core profit margin moderately improved to 12% in the financial year ended March 2024 (FYE2024), from 11% a year earlier, notes Fitch Ratings.
India Ratings and Research (Ind-Ra) has upgraded Star Health and Allied Insurance Company's (Star) Long-Term Issuer Rating to 'IND AA+' from 'IND AA'. The outlook is 'Stable'.
The insurance industry stabilised in 2023 following muted natural catastrophe events and the positive effects of strategic initiatives implemented by insurers over the last few years to moderate risk exposures, such as premium rate increases and underwriting limitations, according to KPMG South Africa.
The combined insurance revenue of listed companies and foreign branches saw a 19% surge to AED42.4bn in 2023, compared to AED35.5bn in 2022, under IFRS 17, according to an analysis by Badri Management Consultancy, an international company offering actuarial services, financial services, Strategic HR consulting, data management and business intelligence.
Zking Property & Casualty Insurance Co (ZKI) reported a combined ratio of 103% in 2023, from 98% in 2022, with an average ratio of 100% over 2021-2023, notes Fitch Ratings.
Meiji Yasuda Life Insurance Company's core profit margin improved to 18% by the end of the financial year to March 2024 (FYE2024), from 12% a year earlier, notes Fitch Ratings.
Gulf Insurance Group (GIG) is expected to see its gross written premium remain broadly flat for 2024 but fall in 2025 following the revocation by the Health Ministry of a health insurance contract for retired citizens which had been awarded to the Group, according to AM Best.
Chinese insurance giant, China Life Insurance Company, has turned in an average return on equity (ROE) of 14% in 2022-2023 (2023: 11%), based on the IFRS 17 accounting standard, says Fitch Ratings.