Dr Mohamed Farid, the chairman of the Financial Regulatory Authority (FRA) has called on insurance companies to adjust their operations to the recently enacted Unified Insurance Law.
Although higher interest rates and more favourable mortality trends have led to improved conditions for life/annuity (L/A) reinsurance companies, they have also created more competition, with some backed by alternative investment managers or large private equity firms, according to a new AM Best report.
Bennelong Funds Management and Leadenhall Capital Partners have now opened the LCP Insurance Linked Securities (ILS) Fund for investment.
TQR, a listed reinsurance brokerage business, is confident that its performance in the second half of this year will continue to grow.
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.