Financial services group Discovery, which is South Africa's biggest health insurer, has reported a jump in profits for the financial year ended 30 June 2024 (FY2024).
The Indian government could link financial support for three state-owned general insurance companies to their financial performance, after assessing their capital needs.
The Australian Prudential Regulation Authority (APRA) has released a comprehensive package of product performance metrics and insights to increase transparency and sharpen superannuation trustees' focus on improving member outcomes.
Hotai Insurance returned to profit by closing 2023 with a full-year net profit of NT$3.7bn ($115.8m), partially contributed by the release of reserve related to COVID-19 pandemic insurance claims, notes AM Best. The insurer reported a significant net loss of NT$36.9bn in 2022, predominantly attributed to pandemic-related claims.
ASR Re's financial performance is expected to improve in 2024 on business growth and fewer large losses, says Fitch Ratings.
Maung Thai Life's (MTL) reported a marked improvement in net profit, up 19.9% YoY to THB3.9bn ($118.4m) in 1H2024, with the increase largely driven by the strong performance in 1Q2024, noted CreditSights, a unit of the Fitch Group.
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).
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.