In the first eight months of this year, China's five major insurance companies listed in the A-share market reported a combined CNY2.165tn ($305.7bn) in total premium income, increasing by 5.63% over the corresponding period in 2023.
AM Best has maintained its 'Stable' outlook on China's non-life insurance segment, citing several factors that include a supportive regulatory environment, increased health insurance awareness, and strong growth potential in the electric vehicle insurance market.
The Shanghai property insurance industry has received at least 29,400 claims for over CNY500m ($71m) for losses caused by Typhoon Bebinca, the strongest typhoon to slam Shanghai since 1949, according to Shanghai Financial Regulatory Bureau.
The Australian Government's cyclone reinsurance pool has begun delivering lower premiums for some consumers in some regions facing higher risk of cyclones, according to a report released yesterday by the Australian Competition and Consumer Commission (ACCC).
The General Insurance Association of Japan said yesterday that its member firms should set a clear deadline to cut their strategic holdings of listed client shares to zero, reported Reuters.
The Insurance and Pension Commission (IPEC) plans to issue a sustainability guideline for insurers and pension funds in 2025,a move that it says will be a strategic milestone for next year.
Residential property rental insurance business is growing with increased demand for daily or short-term rental of residential units during the tourist season in Saudi Arabia.
Allianz Global Corporate and Specialty has appointed Mr Thomas Lillelund as CEO, effective early 2025 and subject to regulatory approval. He will also assume leadership of Allianz Commercial, the Group's integrated global model for serving the commercial property and casualty insurance segment.
New business premiums in the life and general insurance industry recorded double-digit growth in the first half of 2024, exceeding MYR20bn ($4.7bn), said Bank Negara Malaysia (BNM) governor Mr Abdul Rasheed Ghaffour.
COSCO SHIPPING Captive Insurance Co will continue to focus on fixed-income oriented assets, which are expected to provide a stable stream of investment income, says AM Best.