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.
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.
The premium income of the life insurance business (not including health and annuity) of the five major 'A'-listed insurers have continued to pick up. In the first seven months of this year, their combined premium income totalled about CNY1.23tn, with a year-on-year increase of 2.64%.