Tanzania Reinsurance Company (TAN RE) has a track record of strong operating performance, evident by a return-on-equity (RoE) ratio that exceeded 10% in each of the past five years, says AM Best in a report.
The Saudi Reinsurance Company (Saudi Re) posted a surge of 351% in net profit after zakat to SAR475m ($126.5m) for the nine months ended 30 September 2024.
Oman Re, the Sultanate of Oman's sole reinsurer, has reported a net profit after tax of OMR1.4m ($3.7m) for the first three quarters of this year, down from OMR1.9m for the first nine months of 2023.
The net profit attributable to shareholders of China's five major 'A'-share-listed insurance companies for the first three quarters of 2024 climbed steeply year-on-year.
Large losses, such as increased frequency and severity of extreme weather, could increase underwriting volatility at China Re Group, according to S&P Global Ratings (S&P).
PICC Reinsurance is expected to increase its premiums by 8%-10% over the next two years, says S&P Global Ratings (S&P) in its report titled "Asia-Pacific Reinsurance Sector Update - Improvements Are Underway".
China Reinsurance (Group Corporation) [China Re] has reported a net profit of CNY2,411m ($337m) for the first nine months of 2024. The company's insurance income stood at CNY9,539m for the period.
The mainland Chinese insurance industry's premium income reached CNY4.79tn ($672bn) in the first nine months of this year, jumping by 7.2% year on year, according to the National Financial Regulatory Administration (NFRA).
The financial performance of Groupama SDIG Property Insurance Co, a 50-50 Sino-French joint venture, is regarded as 'Good', given its increasing underwriting margin and steady investment yield, says Fitch Ratings.
Korean Reinsurance will likely maintain largely stable underwriting performance over the next two years, says S&P Global Ratings. It expects the reinsurer's combined ratio to be 93%-95%, based on IFRS 17, over the next two years.