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.
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.
ZhongAn Online P&C Insurance recorded GWP of CNY15,238m in the first half of 2024, 5.4% higher than the CNY14,463m in the corresponding period in 2023.
Earnings of global reinsurance companies should remain favourable in 2H24 and 2025, as pricing is generally adequate and underwriting discipline should be maintained, Fitch Ratings says in a new report.
Peak Reinsurance's net profit reached a record level of $200m in 2023, supported by improvements in reinsurance service results and investment performance under new international accounting standards, notes AM Best.
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.
Prudential plc has announced that its new business profit amounted to at $1,468m for the first half of 2024. This was up by 8% (6% on actual exchange rate basis) excluding the effect of interest rate and other economic impacts and up 1% (down by 1%) after allowing for these impacts.