Rising costs, increased climate-related claims, and aggressive pricing strategies are putting pressure on margins across the industry, says Badri Management Consultancy, an international company specialising in actuarial and management consulting services.
Orient Insurance, the UAE market leader in terms of insurance revenue and profits, has announced a net profit after tax of AED312.6m ($85.1m) for the first three months of this year, 4.1% higher compared to AED300.3m for the corresponding period in 2024.
The APAC region, particularly in South Korea and Japan, experienced significant wildfires, floods and earthquakes in the first quarter of 2025 leading to billions of dollars in economic and insured losses, according to an Aon report.
The first quarter of 2025, traditionally the strongest sales period for China's life insurance industry, has shown clear signs of pressure, with new business premiums declining notably across major distribution channels.
On May 14, Ant Insurance, an online insurance platform under Ant Group, announced that its flagship medical insurance product - Haoyibao long-term medical plan (flagship version) - is now open to residents of Hong Kong, Macau, and Taiwan. The move aims to improve financial service accessibility for these groups living in mainland China.
Data show that PICC Health, Ping An Health, Pacific Health Insurance, Fosun United Health, and Ruihua Health collectively recorded operating income of CNY75.65bn ($10.59bn) in 2024, up 14.1% year-on-year, and net profit of CNY4.15bn, a 46.6% increase.
These are the highlights for all events and updates across the industry this week.
The number of new contracts within the Vietnamese life insurance industry saw a 4.3% y-o-y growth in the first quarter of the year, according to the Insurance Association of Vietnam's vice secretary general Ngo Trung Dung.
Modern technological tools must be integrated into the insurance business in Arab markets, and operators have to exert greater efforts to deal with the challenges that emerge with the use of technology, said the General Arab Insurance Federation (GAIF) secretary-general Chakib Abouzaid.
Abu Dhabi National Insurance Company (ADNIC), one of the leading regional multi-line insurance providers for both corporates and individuals, has delivered strong financial results for the first quarter of 2025.