The first half of 2024 saw a significant improvement in market competition and the return of insurer choice for buyers, from both existing insurers and new entrants, says Mr Scott Eccleston, head of global placement, Pacific, at global insurance broking giant March.
Nippon Life, one of Japan's biggest life insurers, anticipates a decrease in insurance and service revenue for the full financial year ending 31 March 2025 (FY2024), says CreditSights, a credit research unit of the Fitch Group.
Taikang Insurance Group, one of China's biggest unlisted insurance groups, is assessed to have a strong financial performance, according to Fitch Ratings.
Malaysian Reinsurance's underwriting performance improved sharply in the financial year ended 31 March 2024 (FY2024), with an insurance/takaful service result of MYR341m [$77m] (FY2023: loss of MYR2m), driven by lower catastrophe losses, says Fitch Ratings.
Premiums in the Egyptian insurance market jumped by 25.6% year on year to exceed EGP69bn ($1.4bn) in the first nine months of this year, according to data from the Financial Regulatory Authority (FRA).
Zking Property & Casualty Insurance Co (ZKI) continued to reduce riskier guarantee insurance business that is susceptible to domestic economic conditions, says Fitch Ratings.
Millî Reasürans Türk Anonim Sirketi (Milli Re) has shown an improvement in its consolidated balance sheet strength fundamentals, notably through increased risk-adjusted capitalisation, as measured by Best's Capital Adequacy Ratio (BCAR).
The insurance sector in Morocco continues its upward trajectory, with a significant increase in premiums in the first nine months of this year, according to data released by the Insurance and Social Security Supervisory Authority (ACAPS).
The domestic underwriting profit of Nippon Life Insurance Company, one of Japan's biggest life insurers, began to recover from mid-2023, after the government eased COVID-19 pandemic-related restrictions, says Fitch Ratings. This will help profitability return to pre-pandemic levels from the financial year to March 2025 (FYE25).
The insurance industry in Türkiye aims to double its premium income to about $44.3bn and reach a penetration level of 4.8% in 2030, said Insurance Association of Türkiye (TSB) chairman Ugur Gulen at a media meeting.