The lowering by the authorities of assumed interest rates offered in life insurance plans has given a fillip to the life insurance market in China.
In the first eight months of this year, China's five major insurance companies listed in the A-share market reported a combined CNY2.165tn ($305.7bn) in total premium income, increasing by 5.63% over the corresponding period in 2023.
The insurance market in Morocco posted a record first-half turnover of MAD32.4bn ($3.3bn), growing by 4.4% over the first six months of 2023, according to data from the Insurance and Social Welfare Supervisory Authority (ACAPS).
The Asia Pacific region maintained its share of global marine insurance premiums of 28.1% in 2023, compared to 28.4% in 2022, according to data from the International Union of Marine Insurance (IUMI) which presented its analysis of the latest marine insurance market trends at its 150th annual conference in Berlin on 16 September 2024.
AM Best has revised its outlook on Taiwan's non-life insurance segment to 'Stable' from 'Negative', citing a recovery of capital strength among carriers in 2023 following sizeable COVID-19 pandemic-related losses in the previous year.
Tanzania's Commissioner of Insurance, Dr Baghayo Saqware, has highlighted the significant opportunities in the insurance sector arising from growing demand and favourable business conditions.
The revenue of the Algerian insurance sector increased to DZD89.8bn ($680m) in the first half of 2024, 7% higher compared to the first half of 2023, according to data released by the Algerian Union of Insurance and Reinsurance Companies (UAR).
Direct insurance companies in Tunisia recorded a solid increase in their turnover at the end of the first half of 2024, according to figures published by the General Insurance Committee (CGA).
The risk-adjusted capitalisation of Ping An Health Insurance Company of China (Ping An Health), as measured by Best's Capital Adequacy Ratio (BCAR), is expected to remain at the strongest level over the three years covered by the company's business plan, AM Best says.
International actuarial consulting firm Badri Management Consultancy says that it sees growth in the profitability of the Saudi Arabian insurance market.