The 25 listed direct insurers in Saudi Arabia reported a combined profit after zakat of SAR3.2bn for 2024, 2% lower than the SAR3.3bn chalked up for 2023. The profits fell despite the combined investment income jumping 21%, from SAR2.6bn in 2023 to SAR3.1bn in 2024, according to an analysis by Badri Management Consulting, an international actuarial and risk consultancy firm.
A huge surge in overseas travel has resulted in a spike in the demand for travel insurance products from non-life insurance companies.
The first quarter of 2025 has brought unexpected challenges for China's personal insurance sector, as the traditional peak season for sales cooled significantly.
On April 14, Generali China Insurance (GCI) announced that its shareholder, Assicurazioni Generali (Generali), had resolved to increase GCI's capital by CNY392m ($54.88m) in 2025.
These are the highlights for all events and updates across the industry this week.
Africa Reinsurance Corporation (Africa Re), the leading African reinsurer, has reported a record profit for the second consecutive financial year in 2024 which amounted to $132.36m compared with $128.45m in 2023, translating into an increase of 3.05%, a demonstration of its resilience.
The Malaysian takaful industry made significant strides in 2024, making a record payout of MYR10.20bn ($2.31bn) in benefits to certificate holders.
Listed insurance companies in Saudi Arabia recorded a 15.2% growth in insurance revenue to SAR66.4bn ($17.7bn), compared to SAR57.7bn in 2023.
Australian general insurers, after a 5-year low, have witnessed a surge in their profits in 2024, buoyed by lower Nat CAT losses and higher investment returns.
India's non life insurance sector reported a 6.2% growth in gross direct premium, with health insurance being a major contributor.