16-10-2020
8 markets produce the region's Top 50 insurers
Insurance Alertss8 markets produce the region's Top 50 insurers
The top 50 insurers in Asia are concentrated in just eight markets on the continent, according to a study by international consultancy Roland Berger.
In a report, “Financial Performance of the Top 50 Insurers in Asian markets”, Roland Berger shows that the top 50 insurance companies in Asia in terms of GWP in 2019 were distributed as follows:
| Incorporated in | No. of insurers in Top 50 |
| China | 12 |
| Japan | 11 |
| South Korea | 8 |
| Taiwan | 6 |
| Australia | 3 |
| Hong Kong | 1 |
| India | 1 |
| Singapore | 1 |
| Global insurers | 7 |
| Total | 50 |
In the report, the author Mr Laurent Doucet who is a partner in Roland Berger, states that in terms of GWP in 2019, the Top 50 insurers were led by Ping An, China Life and PICC. The pole positions of the trio remained unchanged from 2018.
Other highlights in the report are:
- The Top 10 insurers comprised 5 Japanese, 4 Chinese and 1 Indian company.
- AIA, LIC India and Prudential posted the highest APE, among those reported.
- Sony Financial, PICC, Samsung Life and Cathay Life had the highest solvency ratios among peers in their respective markets.
- In 2019, total operating income rose by 5.8% for the Top 50, driven by Investment income, and slightly above the 2016-19 CAGR of 5.4%.
- The Top 50 insurers' aggregate ROE ratio grew to 10.2% in 2019, an improvement on the average of 8.5% for the 2010-18 period.
- Asian insurers on average had a 45% dividend payout ratio with high diversity across insurers, among those reported.
Source: Asia Insurance Review
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