Gulf Union Alahlia Cooperative Insurance Company (Gulf Union) is expected to maintain combined ratios in the mid to high 90s in 2025 due to its underwriting and pricing discipline, says Fitch Ratings.
Reducing state government taxes in Australia is perhaps the best and fastest way to bring relief for the insurance customers who are burdened by higher insurance premium in the aftermath of rising natural disasters according to QBE chairman Mike Wilkins.
The Saudi insurance sector is projected to maintain a positive and strong growth trajectory in 2025, with top-line revenue growth forecast to fall in the double-digit zone, says the Insurance Authority (IA).
Recently, the Q1 2025 financial reports for China's top five listed insurance companies have been released. China Life, Ping An, PICC, CPIC, and New China Life reported a combined net profit of CNY84.18bn ($11.62bn), a year-on-year increase of 1.4%, with a daily profit of CNY935m. The quarter saw a clear divergence in performance, with a 'three up, two down' pattern.
The National Financial Regulatory Administration (NFRA) has recently released the latest figures for the insurance industry's performance in March 2025. In the first quarter, the industry's gross insurance claims expenditure totalled CNY827.4bn ($113.85bn), marking a year-on-year increase of 12.54%.
Mainland China visitors (MCVs) to Hong Kong contributed new business premiums to the territory's insurance market, totalling HK$62.8bn ($8.1bn), an increase of 6.5% over 2023. The figure made up 28.6% of total new office premiums for individual business, according to data released by the Hong Kong Insurance Authority.
China United Property Insurance Company (CUPI) is expected to maintain a stable underwriting margin by opting out of higher volatility business and continuing to enhance its risk-selection capability, says Fitch Ratings. CUPI is one of the largest non-listed insurers in China in terms of premiums.
These are the highlights for all events and updates across the industry this week.
Great Eastern yesterday reported its financial results for first quarter ended 31 March 2025.
Manulife reported its first quarter results for the period ended March 31, 2025, delivering record insurance new business results and steady growth in book value per common share.