Bahrain-based Saudi Arabian Insurance Company (Damana) showed a steady improvement in its underwriting results in 2023 and the first half of 2024, driven largely by a reduction in its expense ratio, notes AM Best.
ChangAn Property & Liability Insurance has placed its 16.67% share in Beijing-based mutual insurer Hero Mutual Property Insurance on the block.
The Company for Cooperative Insurance (Tawuniya), among Saudi Arabia's top three insurers in terms of insurance revenue and profits, has a Fitch Ratings calculated net income return on equity that improved to 34% (annualised) in 1H24 (2023: 18%, 2022: 10%), supported by strong underwriting performance and resilient investment income.
Central Reinsurance Corporation, Taiwan's sole domestic reinsurer, has reported a 59% jump in net profits after tax to NT$1.87bn ($58.83m) for the first six months of this year, compared to the corresponding half in 2023, according to interim financial statements released by the reinsurer.
Adamjee Insurance Company has a history of robust operating profitability, with profits before tax ranging from PKR2.2bn ($7.95m) to PKR5.1bn between 2019 and 2023, noted AM Best.
Emirates Insurance Company (EIC) has a demonstrated track record of strong operating performance, with profits reported in each of the past five years (2019-2023), says AM Best.
Ethiopian Reinsurance (Ethio Re) has a track record of adequate operating performance, demonstrated by a five-year (2019-2023) weighted average return on equity (ROE) of 16%, says AM Best.
Ping An Insurance (Group) Company of China (Ping An or the Group) yesterday announced that it posted net profits attributable to shareholders of the parent company of CNY74,619m ($10,443m) in the first half of this year, 6.8% higher than in the corresponding half in 2023.
China's five major 'A'-share listed insurance companies have posted a combined premium income of CNY1.95tn ($2.74bn) in the first seven months, a year-on-year increase of 3.49%.
China's Big Three non-life insurers posted a combined premium income of CNY655.78bn ($91.87bn) in the first seven months of this year, an increase of 4.8% compared to the corresponding period in 2023.