East Africa Reinsurance Company(EARe) has a track record of adequate operating performance, with return-on-equity moderately exceeding the inflation in Kenya over the past five years, says AM Best.
The combined insurance service results of listed insurance companies in Oman plunged by 85% to OMR2.6m ($6.8m) for the first nine months of this year from OMR16.9m for the corresponding period in 2023, according to an analysis by Badri Management Consultancy.
Four of the five largest "A"-share listed insurance companies in China have issued profit estimates for the first nine months of this year, with year-on-year increases of at least 60%.
China's five largest listed insurance companies in the 'A'-share market posted a combined total premium income of CNY2.38tn ($334.2m) in the first three quarters of this year, rising by 5.79% compared to the corresponding period of 2023.
Takaful generated contributions totalling MAD43.5m ($4.4m) in the first half of 2024, 50% higher than the MAD29m reported for the corresponding six months in 2023, according to data released by the Moroccan Insurance Federation.
Jordan French Insurance Company (JOFICO) has a financial performance that Fitch Ratings views as a rating weakness although it is improving since 2023. Fitch, in a report released yesterday, says that it expects JOFICO to report positive profitability in 2024.
National Reinsurance Corporation's (Nat Re) strong business growth in non-property lines during 2023, mainly driven by the acquisition of foreign agriculture treaties, is viewed to support business diversification; however, effective underwriting risk management remains crucial, says AM Best.
Life insurers posted a 14% year-on-year growth in new business premiums to INR350.2bn ($4.2bn) in the month of September, primarily driven by a surge in individual non-single premium collections, according to data released by the Life Insurance Council.
Fitch Ratings has assigned UAE-based Union Insurance Company a first-time Insurer Financial Strength (IFS) Rating of 'BBB' with a 'Positive' outlook.
The operating performance of General Insurance Corporation of India (GIC Re) is viewed as adequate, supported by a five-year average return-on-equity (ROE) ratio of 6.5% (FY 2020-2024), says AM Best.