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.
Moody's Ratings has affirmed the Baa1 insurance financial strength rating (IFSR) on Peak Re.
The Company for Cooperative Insurance (Tawuniya has announced its board's recommendation to pay cash dividends totalling SAR225m ($60m) for 2024.