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.
Prudential plc's business in the Greater China region contributed $926m in new business profit to the group in the first half of 2024. This represented 63% of the group's total new business profit for the period, according to interim financial statements released by Prudential.
Significant protection gaps still exist in Malaysia, particularly among the vulnerable segments of the population, and a multi-faceted approach is critical to narrow them, with the insurance sector taking on greater ownership, according to Mr Adnan Zaylani Mohamad Zahid, deputy governor of Bank Negara Malaysia (BNM).
The Pradhan Mantri Jan Dhan Yojana (PMJDY), which on 28 August 2024 marked the 10th anniversary of its establishment, has been hailed as a great success in boosting financial inclusion.
Sarwa Life Insurance, the life insurance arm of Contact Financial Holding Group which is a leading non-bank financial services group in Egypt, has established itself among the largest insurance companies in the country.
Twenty (20) direct insurers in Tunisia, whose financial statements are available, achieved a combined turnover in 2023 (measured by net premiums written) of TND2,803m ($923m), 6.9% higher compared to TND2,621m in 2022, according to an analysis by Tera Finances.
Great Eastern has launched its Great Legacy programme to help Singaporeans with their Lasting Power of Attorney (LPA) and Advance Medical Directive (AMD) applications.
InsurancePadosi, an InsurTech platform that helps users understand their health insurance needs, has raised $500,000 in a pre-seed funding round.