In the first half of the year, China's five major 'A'-share listed life insurance companies achieved a total premium income of CNY1.12tn ($154.42bn), a year-on-year increase of 2.12%.
The combined premium income of China's three biggest P&C insurers grew steadily in the first half of 2024, expanding by 4.54% year on year to CNY585.42bn ($80.69bn).
Aviva-COFCO Life Insurance posted an operating income of CNY14.46bn ($2bn), a year-on-year increase of 51.35%, of which insurance business income was CNY10.91bn, a year-on-year increase of 24.28%.
The risk-based capital metrics of China Huanong Property & Casualty Insurance Company (CHIC) are expected to remain under pressure in the near to medium term, due to uncertainty around its overall capital raising activity.
China remained the second largest insurance market in the world in 2023, with total premiums of $724bn. This represents a 10% global market share, says Swiss Re Institute (SRI). The market share was stable compared to 2022 when it stood at 10.3%.
Five major A-share insurance companies in China have posted a combined premium income of CNY1.76tn ($242.92bn) for the first half of this year, a year-on-year increase of 3.03%, according to statements filed with the stock exchange.
The Indian health insurance industry is set to grow at a compound annual growth rate (CAGR) of 12.8% to INR2.0tn ($23.9bn) in 2028 from INR1.3tn in 2024 in terms of gross written premiums (GWP), forecasts GlobalData, a data and analytics company.
Two Australia-headquartered insurance brokers have been listed on the "Best Rankings - Top 20 Global Brokers - 2024 Edition", where rankings are based on 2023 total revenue. This is the first time that the two brokers appear on the list.
Société Tunisienne de Réassurance (Tunis Re) has promising prospects and is expected to improve its financial performance, indicates BMCE Capital Securities.
Turkiye overtook Saudi Arabia as the biggest market among 13 markets in the Middle East and North Africa, according to data published by Swiss Re Institute (SRI).