China's pet insurance sector is heating up, with ZhongAn Online emerging as a dominant player. According to the company's latest annual report, its total pet insurance premiums surged 129.5% year-on-year in 2024, securing its position as the market leader. Based on previous disclosures, ZhongAn recorded CNY500m ($68.7m) in pet insurance transactions in 2023, suggesting that total premiums exceeded CNY1bn last year.
These are the highlights for all events and updates across the industry this week.
Corporate and specialty insurer HDI Global SE has reported positive financial results for the full year of 2024 with growth in both revenue and earnings. The main drivers for this encouraging trend were the growth in new business and inflation-related price adjustments.
Qatar Insurance Co (QIC) is projected to see modest top-line growth of about 3% per year in 2025 and 2026 as the company continues to consolidate its business, says S&P Global Ratings (S&P).
According to the report titled "Taiwan Life Insurance Sector: Operating Surplus to Remain Volatile in 2025", published by Taiwan Ratings Corporation, a subsidiary of S&P Global Ratings, the performance of Taiwan's life insurance sector will remain volatile in 2025 amid the evolving composition of operating surpluses.
Following a second consecutive year of robust financial performance in 2024, Europe's four largest reinsurers are well positioned to navigate potentially less supportive market conditions in 2025, says a new report by Fitch Ratings.
Sukoon Takaful has reported a significant turnaround and a return to profitability in the financial year ended 31 December 2024.
Singapore's general insurance sector continued its upward trajectory in 2023, recording solid growth across both domestic and offshore segments, according to the General Insurance Association of Singapore (GIA).
The year 2024 turned out to be more challenging than 2023 for many smaller insurance companies, says Badri Management Consulting, an international company specialising in actuarial services.
Gross written premiums in the UAE insurance sector rose by 21.4% in 2024 to AED64.8bn ($17.6bn), according to the Central Bank of the UAE (CBUAE).