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Sri Lanka: Non-life insurers beat life companies in pre-tax profits in 2020

The Sri Lankan insurance industry chalked up pre-tax profits of LKR41.8bn ($209.9m) for the 2020 financial year, 29.3% higher than the LKR32.3bn posted for 2019, according to the "Statistical Review 2020" released by the Insurance Regulatory Commission of Sri Lanka. ....

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Thailand: Bangkok Insurance shows resilient performance

Bangkok Insurance Public Company (BKI), the third largest general insurer in Thailand, has a strong operating performance, as evidenced by a five-year average return-on-equity ratio of 7.4% and operating ratio of 79.1% (2016-2020), says AM Best. ....

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Sri Lanka: Non-life insurance sector's earnings expected to fall this year

Earnings in the non-life insurance sector in Sri Lanka are expected to decline in 2021 with claims picking up from unusually low levels in 2020, says Fitch Ratings. ....

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Philippines: Malayan Insurance again reports highest GWP in non-life mart

Malayan Insurance has again topped the Philippine non-life insurance industry, based on GWP in 2020, Insurance Commissioner Dennis Funa has said.
Malayan Insurance’s number one ranking was based on the compilation of quarterly reports on selected unaudited financial figures submitted by insurers to the Insurance Commission.
Malayan Insurance’s gross premiums written amounted to PHP14.21bn ($297m), the highest in the industry, despite the impact of the COVID-19 pandemic on the economy. 2020 was the 50th consecutive year in which Malayan Insurance headed the non-life sector in terms of GWP.
However, the insurer reported net premiums written of PHP4.08bn in 2020, placing it in second place after Prudential Guarantee & Assurance. ....

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Philippines: Sun Life and Prudential Guarantee remain insurance leaders in 2020

The Insurance Commission (IC) has revealed that Sun Life Canada (Philippines) and Prudential Guarantee and Assurance Inc (PGAI) remained the highest-ranked life and non-life insurance company, respectively, in terms of premium income in 2020.
Based on insurance companies’ reports submitted to the IC as of the end of December last year, Sun Life topped life insurance companies with a premium income of PHP39.27bn ($812m) in 2020, while PGAI led the non-life sector with net premiums written (NPW) amounting to PHP4.55bn.
Both Sun Life and PGAI were also ranked number one in their segments in 2019.
PGAI has led non-life insurance companies in NPW for five consecutive years, from 2011 to 2015, then again from 2017 to 2020. ....

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