Central Reinsurance Corporation, Taiwan's sole domestic reinsurer, has reported a 59% jump in net profits after tax to NT$1.87bn ($58.83m) for the first six months of this year, compared to the corresponding half in 2023, according to interim financial statements released by the reinsurer.
Several insurance industry players attended the "Insurance for All" Vision Meet held last week to craft a foundational framework that would guide the vision of achieving "Insurance for All" by 2047.
Ethiopian Reinsurance (Ethio Re) has a track record of adequate operating performance, demonstrated by a five-year (2019-2023) weighted average return on equity (ROE) of 16%, says AM Best.
Global reinsurer Swiss Re has reported a profit of $996m in the second quarter of 2024, resulting in a net income of $2.1bn and a return on equity (ROE) of 20.1% for the first half of the year.
The operating performance of Kenya Reinsurance Corporation is seen as adequate, considering its return-on-equity ratio has consistently exceeded the generally high inflation level in Kenya in recent years, says AM Best.
Price hikes are expected for some insurance products in the UAE on the back of high demand in the second half of 2024, according to Mr Gautam Datta, CEO of the UAE-based Islamic insurance group, Watania International Holding.
Chedid Capital, an investment group in the insurance and reinsurance industry, has raised its global governance capacity by appointing Mr Stuart Davies as an independent non-executive director at Milestone Risk Solutions in the United Kingdom and a Strategic Committee member at Momentum Insurance.
Officials are discussing a proposal to increase the foreign direct investment (FDI) limit for insurance to 100%, from the current 74%, a move which has the backing of the Insurance Regulatory and Development Authority (IRDAI).
Locally-incorporated reinsurance players must step up to increase support for the development of the insurance industry in Indonesia and to reduce the deficit in the insurance sector's balance of payments.
Kenya Reinsurance Corporation has posted a 10% fall in profits after tax to KES1.06bn ($8.2m) for the first half of 2024 from KES1.17bn in 1H2023, despite a 20% jump in insurance revenue, according to the company's interim financial statements.