The Saudi insurance market continues to grow strongly in the first nine months of 2024 (9M2024), but performance remains mixed by lines of business, notes Badri Management Consultancy which specialises in actuarial services.
The premium income of life insurance companies in China declined in the single month of October, which was the first monthly negative growth in 2024 to date, according to data from the National Financial Regulatory Administration (NFRA).
Fukoku Mutual Life Insurance Company (Fukoku Life) maintains a strong capital position, with the corporate principle, "Not the biggest, but the best", continuing to emphasise the strengthening of its capital base and financial soundness, says CreditSights, the credit research unit of Fitch Group.
Global credit rating agency AM Best has assigned a Financial Strength Rating of 'A-' (Excellent) and a Long-Term Issuer Credit Rating of 'a-' (Excellent) to Santam Limited, South Africa's biggest general insurer. The outlook assigned to these credit ratings is 'Stable'.
Non-life insurance companies are considering joint reinsurance to share business with reinsurers as the Bank of Korea lowered interest rates for the second consecutive month in November 2024.
Al Rajhi Cooperative Insurance Company has announced that it maintains its Insurance Financial Strength Rating (IFSR) of 'A3' with a 'Stable' outlook from Moody's Ratings (Moody's).
The outlook for Meiji Yasuda Group for the financial year ending 31 March 2025 (FY2024) remains positive, with insurance premiums expected to increase, says CreditSights, a credit research unit of the Fitch Group.
The first half of 2024 saw a significant improvement in market competition and the return of insurer choice for buyers, from both existing insurers and new entrants, says Mr Scott Eccleston, head of global placement, Pacific, at global insurance broking giant March.
Nippon Life, one of Japan's biggest life insurers, anticipates a decrease in insurance and service revenue for the full financial year ending 31 March 2025 (FY2024), says CreditSights, a credit research unit of the Fitch Group.
Taikang Insurance Group, one of China's biggest unlisted insurance groups, is assessed to have a strong financial performance, according to Fitch Ratings.