Profits at UAE insurance companies' profits could plunge by up to one-fourth in the second quarter due to unprecedented rains in April, which caused severe property and vehicle damages.
The agency channel in Cambodia is generating more premiums as insurers try to reduce their dependence on the bancassurance channel.
India's life insurance sector saw a 14.8% y-o-y increase in premiums in June 2024, reaching INR42,434 crore ($5bn), with significant improvements in both premium collections and policy issuances. The performance highlights a strong and growing demand for life insurance in India.
Uganda's insurance industry registered robust growth rate in 2023 on the back of enhanced insurance customer confidence, improved distribution channels, and growth in online transactions, says the Insurance Regulatory Authority of Uganda (IRA) in a statement.
S&P Global Ratings (S&P) says that it continues to assess China Life Insurance Co's (China Life) capital and earnings as satisfactory and to view China Life as a core subsidiary of China Life Insurance (Group) Co (China Life Group).
China's Ping An Insurance is considering issuing a convertible bond worth up to $5bn, reported Reuters quoting two sources with direct knowledge of the matter.
Qingdao-headquartered Zhonglu Property and Casualty Insurance Company (Zhonglu Insurance) may put in place a more comprehensive reinsurance arrangement that would support its underwriting capacity, says Fitch Ratings.
Tokio Marine Holdings, MS&AD Insurance Group Holdings and Sompo Holdings posted strong results for the financial year ended 31 March 2024 (FY23) despite a series of corporate scandals, notes S&P Global Ratings.
Non-life insurers in India reported a 13.7% growth in gross direct premium in the April-June quarter of the financial year ending 31 March 2025 (1QFY25). This was driven by strong performance in health and motor segments, according to data released by the General Insurance Council.
The profit-generating activities of Al Rajhi Co for Cooperative Insurance (ART) are expected to support the company's capital adequacy over the next two years, says S&P Global Ratings (S&P).