A total of 74 unlisted non-life insurers posted a combined insurance income of CNY234bn ($32.6bn) in the first half of the year, according to data compiled from the 2Q2024 solvency reports of the companies.
Central Reinsurance Corporation (Central Re) Re posted a reported net profit of NT$2.1bn ($65m) in 2023, with a five-year return on equity of 7.0% (2019 - 2023), based on adjusted capital and surplus, notes AM Best.
The Saudi insurance industry's profitability (after zakat & tax) rose by 26% to SAR2.2bn ($586m) in 1H2024 from SAR1.7bn in the corresponding half in 2023.
Orient Insurance Company, the biggest insurer in the UAE in terms of insurance income, has posted a net profit attributable to shareholders of AED404.5m ($110.1m) for the first half of 2024.
Participation insurance (akin to takaful), which grew by 93.7% in the first half of the year, increased its market share in Turkiye to 5.5% with a premium volume of TRY21.25bn ($633.6m), according to data compiled by the Insurance Association of Turkiye (TSB).
A high frequency of small to medium events resulted in global insured losses from natural catastrophes of $60bn in the first half of 2024, according to Swiss Re Institute's preliminary estimates.
The Malaysian insurance and takaful sector has a stable outlook, which is supported by steady growth in insurance demand, with capitalisation robust and claims under control, says RAM Ratings.
The net profit after zakat attributable to shareholders of the Saudi Reinsurance Company increased by 5.8% to SAR75.28m ($20.05m) in the first half of this year, compared to the corresponding half in 2023, according to financial data lodged by the reinsurer with the Saudi bourse.
The Tunisian Insurance and Reinsurance Company (STAR), Tunisia's largest insurer, has announced that its total revenue rose by 9.54% to TND235.26m ($76.5m) in 1H2024 compared to the corresponding half in 2023, according financial statements lodged with the Tunis bourse.
The insurance industry chalked up a premium income of IDR165.18tn ($10.2bn) in the first half of this year, 8.46% higher compared to the corresponding half in 2023, according to the Financial Services Authority (OJK).