With a rise in credit risk, the Omani insurance industry faces increasing challenges due to the enhanced impact of Expected Credit Losses (ECL), says the Dubai-headquartered international actuarial consulting company, Badri Management Consultancy.
The earnings of Qatar General Insurance & Reinsurance Company (QGIRC) have been supported by a track record of adequate underwriting profitability, with the company generally reporting positive technical results, says AM Best.
Cathay Life Insurance, Taiwan's biggest life insurer, has been issuing debt to strengthen its regulatory capital buffer in preparation for the implementation of the Taiwan Insurance Capital Standard in 2026, notes Fitch Ratings.
The Indonesian General Insurance Association (AAUI) has announced that general insurance premium income in the first quarter of this year reached IDR32.7tn ($2bn), increasing by 26.1% compared to the corresponding quarter in 2023.
Five major A-share insurance companies in China have posted a combined premium income of CNY1.46tn ($200.75bn) for the first five months of this year, a year-on-year increase of 2.19%, according to statements filed with the stock exchange.
Global credit rating agency Fitch Ratings expects Japanese non-life insurance's overseas business and investment profit from the continuous sales of strategic shareholdings to offset weak earnings contribution from domestic underwriting, especially in motor and property insurance, in the financial year ending March 2025 (FYE25).
Fubon Life Insurance's financial performance is strong, with its return on equity averaging 14% from 2021 to 2023, sustained by stable mortality and morbidity gains, says Fitch Ratings.
South Korea's Kyobo Life Insurance, one of the three biggest life insurers in the country, has announced that its 'A1' (Stable) insurance financial strength rating has been affirmed again by Moody's Ratings, one of the world's top three credit rating agencies.
The Thailand general insurance industry is forecast to grow at a compound annual growth rate (CAGR) of 4.5% over 2024-28, from THB310.9bn ($9bn) in 2024 to THB370.8bn in 2028, in terms of gross written premiums (GWP), according to GlobalData, a leading data and analytics company.
Bangkok-based Asian Reinsurance Corporation (Asian Re) has released its financial results for 2023 for which net profits jumped by 76% to $3.21m, compared to 2022, according to a statement released by the reinsurer.