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Financial Performance tag returned 150 results

  • Egypt: Profit in insurance sector soars to US$237 mln in FY2017

    The Egyptian insurance market reported profits of EGP4.2 billion (US$237 million) for the financial year ended 30 June 2017 (FY2017), 68% higher than the EGP2.5 billion posted for FY2016.

    Middle East | 23 Apr 2018
  • Kuwait: First Takaful looks to new chapter after cleaning up loss-making portfolios

    First Takaful Insurance posted a net profit of around KWD1.2 million (US$4 million) in 2017, 11.6% higher than the KWD1.08 million reported for 2016.

    Middle East | 23 Apr 2018
  • India: First year life premiums rise by 11% in FY2018

    The 24 life insurers operating in the Indian market posted an 11% growth in first year premium income to over INR1.93 trillion (US$2.92 billion) in the financial year ended 31 March 2018 (FY2018), as compared to about INR1.75 trillion in the previous fiscal year, according to data compiled by the IRDAI.

    Asia | 23 Apr 2018
  • Global: 21 major reinsurers see combined net income of US$4 bln in 2017

    The traditional reinsurance sector as a whole continued to make money last year. Net income across 21 major reinsurers comprising the Aon Benfield Aggregate (ABA) stood at US$4.0 billion, contributing toward a 2.5% increase in total equity to $204 billion at 31 December 2017.

    Asia | 18 Apr 2018
  • Saudi Arabia: Insurance market sees 59% drop in profits in 2017 on flat topline growth

    The Saudi insurance sector has seen a severe plunge in aggregate profits of 59% with insurance companies' profit before zakat reaching SAR1 billion (US$267 million) against SAR2.5 billion in 2016, according to corporate disclosures on Tadawul, the Kingdom's stock exchange

    Middle East | 16 Apr 2018
  • UAE: Insurers pay 15% more cash dividends for 2017

    Cash dividends distributed by listed insurance companies for 2017 increased by 15.3% to AED655 million (US$178 million), compared to the AED568 million paid out in respect of 2016, according to preliminary numbers released by the companies.

    Middle East | 15 Apr 2018
  • Oman: Largest insurer sees after-tax gains soar by around 80% in 2017

    National Life and General Insurance (NLGIC), the largest insurer in Oman in terms of premiums and profits, has posted after-tax profits of OMR8.4 million for 2017, 79% higher than the OMR4.7 million (US$21.8 million) chalked up in 2016.

    Middle East | 11 Apr 2018
  • Kuwait: Reinsurer's net profits shoot up by 57% in 2017

    Kuwait Re has reported a 57% surge in net profts, chalking up KWD3.06 million (US$10.2 million) for 2017, compared to KWD1.95 million for 2016, according to financial statements posted on the company's website.

    Middle East | 10 Apr 2018
  • GCC: Competition keeps insurance pricing pressure high

    A relatively large number of insurers are in the GCC market, chasing a limited amount of business, lowering prices and hurting margins, according to Mr Salman Siddiqui, associate director of analytics at A.M. Best, speaking in an A.M. BestTV episode.

    Middle East | 08 Apr 2018
  • Turkey: Life technical profits jump by 47% in 2017

    Technical profits in life insurance business in Turkey soared to TRY1.313 billion (US$327 million) in 2017, 47% higher than the TRY888 million reported for 2016, data from the Turkish Insurance Association (TSB) show.

    Middle East | 05 Apr 2018

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