China's five major 'A'-share listed companies reported a combined net profit attributable to the shareholders of the parent company of CNY171.8bn ($24.2bn) in the first half of this year, exceeding the CNY165.5bn for the whole of 2023, according to data from interim financial statements released by the companies.
German global insurer Allianz Group has received approval from regulators in China to move its entire stake in a property insurance joint venture with Chinese e-commerce giant JD.Com to its local unit, a move intended to streamline its operations in China.
The insurance industry should be prepared to experience total annual insured losses, from natural catastrophes and crop, of well more than $151bn on average, says Verisk, a New Jersey-headquartered global data analytics and risk assessment company.
Allianz Asia-Pacific reported a 5% year-on-year increase in total operating profit (OP) to EUR388m ($430m) for the first six months of 2024, with contributions from both Life/Health and Property-Casualty business segments, the company reveals in its interim financial statements.
Agile, a fast growing underwriting agency, InsurTech and Lloyd's Syndicate company, has established a presence in New Zealand, the first of its kind for a Lloyd's syndicate.
As the use of e-scooters and e-bikes increases in the UAE, particularly in urban areas, insurers need to develop insurance policies for those using these personal mobility devices, according to Mr Anas Mistareehi, CEO of the insurance brokerage eSanad, which runs a digital insurance platform.
Macau Insurance Company (MIC) MIC forecasts that its GPW for 2024 to grow on strong contributions from casino developments, while the recovery in the gaming and tourism industry gradually spills over to other parts of the economy, says AM Best.
State-owned Ethiopian Insurance Corporation (EIC) is expected to be among the first companies to be listed on the country's stock exchange which is scheduled to start operations before the end of this year.
The Financial Regulatory Authority (FRA) has released a regulation governing the granting or renewal of licences of non-banking financial companies (NBFCs) including insurers.
The Insurance and Private Pension Regulation and Supervision Agency (SEDDK) has published a circular requiring insurance companies to submit the parameters of the earthquake stress tests they plan to conduct.