China's five major 'A'-share listed insurance companies have posted a combined premium income of CNY1.95tn ($2.74bn) in the first seven months, a year-on-year increase of 3.49%.
The premium income of the life insurance business (not including health and annuity) of the five major 'A'-listed insurers have continued to pick up. In the first seven months of this year, their combined premium income totalled about CNY1.23tn, with a year-on-year increase of 2.64%.
One of China's biggest insurance groups, China Pacific Insurance (Group) [CPIC Group], could see its elevated large holding of high-risk assets heighten the Group's vulnerability to credit and market risk, in the view of S&P Global Ratings [S&P].
AIA China delivered a 36% growth in the value of new business (VONB) to a record high of $782m in the first half of 2024, according to interim financial statements released yesterday by the AIA Group.
Ping An Insurance (Group) Company of China (Ping An or the Group) yesterday announced that it posted net profits attributable to shareholders of the parent company of CNY74,619m ($10,443m) in the first half of this year, 6.8% higher than in the corresponding half in 2023.
Shin Kong Financial Holding has agreed to merge with a smaller rival in a deal that sets up a takeover battle for Shin Kong with another suitor, CTBC Financial Holding Co, reports Bloomberg.
Mumbai-headquartered Central Bank of India (CBI), a state-owned bank, is the successful bidder for the acquisition of a stake in the life and general insurance units of debt-ridden Future Enterprises Ltd (FEL).
Pan-Asia insurer AIA Group yesterday announced that it had chalked up a record value of new business (VONB) for the first half of this year, which rose by 25% to $2,455m.
The Australian and New Zealand Institute of Insurance and Finance (ANZIIF) has announced the winners of the 20th Australian Insurance Industry Awards.
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.