Peak Reinsurance Company (Peak Re), the Hong Kong-based global reinsurer, has announced that it has achieved its best-ever net profit of $200m, as the reinsurer released its annual results for the year ended 31 December 2023.
The Tanzanian life insurance market offers numerous growth opportunities, says the international professional services firm Deloitte.
Qatar Insurance Company (QIC Group, QIC), the leading insurer in Qatar and the Middle East North Africa (MENA) region, has reported a net profit of QAR194m ($53.3m) for the first quarter of 2024, 11% higher than the QAR175m posted for the corresponding quarter in 2023.
Oman Re, the Sultanate of Oman's sole reinsurer, has announced a significant surge in its net profit after tax for the first quarter of 2024, reaching an impressive OMR977K ($2.5m).
New-business premium in India's life insurance market in the financial year that commenced on 1 April 2024 (FY2025) is expected to rebound on a comparatively lower base, according to CareEdge, an analytical group offering credit rating, analytics, consulting, and sustainability services.
High inflation is a primary macroeconomic driver of cargo crime patterns and the rise in food and beverages as a stolen commodity is one such indicator according to annual Cargo Theft Report 2023.
Despite the low insurance penetration in Uganda, there is a growth potential in the market that can be tapped by various industry players, according to the international professional services firm Deloitte.
Overall, Shinkong Insurance Company's underwriting profitability and return on equity have consistently outperformed the industry average over the past five years, AM Best said.
Great Eastern Holdings (GEH or the Group) has reported a profit attributable to shareholders of S$306.7m ($225.5m) for the first quarter of 2024, representing an increase of 26% over the corresponding quarter in 2023.
Mid-tier non-life insurer Tower is expected to decrease its expense ratio over the medium term as the company grows its premium base and improves efficiency through IT transformation, according to AM Best.