The net profits of Kuwait Reinsurance Company increased during the first quarter of 2024 by 40.1% year on year to KWD4.05m ($13.2m), according to quarterly financial statements lodged by the reinsurer with Boursa Kuwait.
Wataniya Insurance Company has reported a significantly improved net profit of SAR85m ($22.7m) in 2023 (under IFRS17 accounting standards) versus a net loss of SAR28m in 2022, notes Fitch Ratings.
Singapore's life insurance industry recorded a total of S$1.37bn ($1.01bn) in weighted new business premiums for 1Q2024, an increase of 32.2% compared to 1Q2023, according to the Life Insurance Association, Singapore (LIA Singapore) in a statement released yesterday.
Lockton Korea is focusing on organic growth, in line with the group's management approach and plans to achieve 20% annual growth under the latest plan, according to Mr Ben Son, CEO of the brokerage.
Qatar's listed insurance companies posted a combined net profit of QAR387.57m ($106.5m) for the first quarter of this year, according to quarterly financial statements published by the companies.
Growth in Malaysia's general insurance market is expected to rebound in 2024, said data and analytics company GlobalData.
Taiwan Life Insurance's underwriting profitability is expected to remain stable, said Fitch Ratings.
Total premium production of insurance companies in the January-March period of 2024 increased by 91.8%to TRY199.3bn ($6.15bn) in nominal terms compared to the corresponding quarter of last year, according to data compiled by the Insurance Association of Turkiye (TSB) from member companies.
Asahi Mutual Life Insurance Company is expected to see a fall in hospitalisation claims, a development which should help restore its profitability from the financial year ended 31 March 2024 ( FYE24), says Fitch Ratings.
Saudi Reinsurance Company (Saudi Re) has posted a net profit after zakat of SAR31.8m ($8.5m) for 1Q2024, almost three times the SAR11.2m for the corresponding quarter in 2023, with growth of 184%.