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Financial Performance tag returned 966 results

  • UAE: Oman Insurance posts double-digit profit growth for first 9 months

    Oman Insurance Company, one of the leading insurance providers in the Middle East, has posted double-digit growth in net profit to AED160.2m ($43.6m) for the first three quarters of this year. The increase in net profit was 11% compared to that for the corresponding period last year.

    Middle East | 02 Dec 2020
  • Pandemic pools may offer limited benefit to large corporations

    With insurers largely unable to cover pandemics, many countries are considering public-private partnerships (PPP) to help businesses cope with future outbreaks. According to Swiss Re, there are at least 15 PPP pandemic solutions under discussion around the world, including proposals in the US, Canada and Australia.

    Asia Risk | 02 Dec 2020
  • Australian health insurers putting themselves out of business

    Australia's private health insurers are at risk of declining profitability, especially those who lack scale or access to capital. More importantly, since 2010, the average premium is now over 70% higher, while average wages for an Australian citizen have only gone up 32%.

    AIRPlus | 02 Dec 2020
  • India: General insurance sector shows red ink in FY2020

    The 32 companies in the Indian general insurance sector posted an aggregate net loss of INR14.02bn ($190.6m) for the financial year ended 31 March 2020 (FY2020), from a combined net profit of INR6.83bn in FY2019 and net profit of INR69.09bn in FY2018, according to statistics compiled by General Insurance Council, which represents all domestic general insurers.

    Asia | 02 Dec 2020
  • India: Motor revs, retail health moderates

    The Indian non-life industry reported a 7% y-o-y growth in premiums, excluding crop, in October 2020 which is marginally lower than 10-11% y-o-y growth over the past two months.

    AIRPlus | 01 Dec 2020
  • Cambodia: Pandemic affects microinsurance market

    Amid the COVID-19 pandemic, the microinsurance market in Cambodia saw a significant 21.7% decline in premiums in 3Q2020. In comparison, the overall insurance market saw an 8.2% increase in premiums compared to the same period in 2019.

    Asia | 27 Nov 2020
  • Insurance business adapted well to the pandemic

    Insurance companies have responded remarkably well to the pandemic and the consequential enforced lockdown with barely a blip. The final implications of COVID-19 for the insurance industry are, however, still unknown and will probably be for quite a while as a second wave of cases hits Europe.

    Asia | 27 Nov 2020
  • Non-life insurance sector's underwriting performance slips into the red for first 9 months

    Non-life insurers in China posted an aggregate underwriting loss of CNY2.80bn ($426m) for the first three quarters of this year, plunging from profits of CNY3.93bn for the corresponding period last year.

    China | 27 Nov 2020
  • Comprehensive motor insurance reform slashes auto premiums, transforms nature of competition

    About 90% of motor insurance customers have seen their annual auto premiums fall since the implementation of comprehensive auto insurance reform on 19 September 2020, according to a statement posted on the official WeChat account of the CBIRC.

    China | 27 Nov 2020
  • Loss-making JV looking to turn around its operations

    Great Wall Changsheng Life Insurance, a Sino-Japanese joint venture established in September 2003, has reported annual net losses for almost all its 17 years of operations, according to financial statements filed by the company.

    China | 27 Nov 2020

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