The insurance industry in Tanzania has posted a total Gross Written Premiums (GWP) of TZS379.40bn ($146.2m) in the first three months of 2024, an increase of 13.6% compared to TZS333.8bn in the corresponding quarter of 2023, according to data released by the Association of Tanzania Insurers (ATI).
Taiwan life insurers are working to strengthen their regulatory capital base in preparation for stricter regulatory capital standards due in 2026, says Taiwan Ratings, which is an S&P Global company.
German reinsurer, Deutsche Rück Group, has announced that it chalked up strong growth in all its markets in 2023, including the Middle East.
Three major Japanese non-life insurance companies have posted record consolidated net profits for the year ended 31 March 2024 (FY2023).
FBC Reinsurance (FBC Re) has returned to profitability in the year to 31 December 2023, chalking up pre-tax profits of $7.3bn, compared to a loss of $2.6bn for the previous year.
Global reinsurer MS Reinsurance, part of the world-leading insurance group MS&AD, has produced a net profit of $366m for 2023, a significant turnaround from a net loss of $50m for 2022.
Tokio Marine Holdings (TMH), Japan's biggest P&C insurance group, has announced that it chalked up an 85.7% jump in net profits attributable to owners of the parent company to JPY695.8bn ($4.46bn) in the fiscal year ended 31 March 2024 (FY2023).
Taiwan's strengthening economy will likely underpin steady insurance demand and drive modest premium growth for the P&C insurance sector in 2024, said Taiwan Ratings, an S&P Global company.
The record profitability (after zakat & tax) seen in the insurance industry in 2023 has continued in 2024 with the sector reporting a 48% upsurge in net profits to SAR879m ($234m) in 1Q2024 from SAR594m in 1Q2023, says Badri Management Cosultancy.
AM Best has upgraded Dubai Insurance Company's (DIN) Financial Strength Rating to 'A' (Excellent) from 'A-' (Excellent) and the Long-Term Issuer Credit Rating to "a" (Excellent) from "a-" (Excellent) of Dubai Insurance Company (PSC) (DIN) (). The outlook of these credit ratings has been revised to 'Stable' from 'Positive"