Fitch Ratings ranks Resolution Life Australasia's (RLA) company profile as 'Moderate', compared with other insurers in Australia, reflecting its larger operating scale and strategy of managing run-off businesses.
Turkiye Sigorta, the leading non-life insurer in Turkiye, saw its total premium grow by 107% to TRY50.4bn ($1.53bn) in the first half of 2024, compared to the corresponding half in 2023.
Kuwait Reinsurance Company's underwriting discipline and prudent risk selection are expected to support continued improvements in its operating metrics, says AM Best.
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.