Indonesia's life insurance industry chalked up premium income of IDR88.49tn ($5.7bn) in the first six months of this year, 2.6% higher than in the first half of 2023, according to data from the Life Insurance Association of Indonesia (AAJI).
Taiwan's biggest life insurer, Cathay Life, reported a net profit of NT$47bn ($1.47bn) in 1H2024, a significant increase from NT$14bn in 1H2023. This 235.7% growth was mainly driven by higher investment income, said CreditSights, a unit of Fitch Group, in a commentary.
Insurance companies in South Korea, comprising 22 life insurers and 31 non-life insurers, generated KRW9.37 ($7bn) in preliminary net income for the first half of 2024, up by KRW253.6bn or 2.8% from the corresponding period a year earlier, according to preliminary data released yesterday by the Financial Supervisory Service.
Syarikat Takaful Malaysia Keluarga, the country's first Islamic insurer, reported that its net profit for the first half of the year (1HFY2024) grew by 5.3% to MYR195.40m ($45.1m) from MYR185.50m in the previous half-year period, as total takaful revenue climbed 23.4% to MYR1.69bn from MYR1.37bn.
The net income of The Toa Reinsurance Company (Toa Re) has turned around since fiscal-year 2022 (FY2022), notes AM Best.
The Hong Kong insurance industry showed a rise of total gross premiums by 5.1% to HK$310.9bn ($39.9bn) for the first half of 2024 over the corresponding period in 2023, according to provisional data released by the Insurance Authority (IA).
Insurance companies operating in the Egyptian market chalked up a premium volume of EGP43.68bn ($899.5m) during the first six months of this year, growing by 22.1% from EGP35.77bn in the corresponding half in 2023, according to data from the Financial Regulatory Authority (FRA).
China Life, the country's biggest insurer, says that its insurance business scale hit a record high in the first six months of this year, but warns of increasingly challenging external and unbalanced domestic developments.
China's five major 'A'-share listed insurance giants have released their interim financial statements for the first half of 2024. Among them, four have proposed paying interim dividends for the period.
China's biggest non-life insurance group, PICC, has reported a net profit of CNY31.5bn ($4.4bn) for the first half of this year, representing a year-on-year increase of 13.4%, according to interim financial statements released by the group.