July 11, 2024
Egypt: 60% of insurance companies need EGP 3.2bn to comply with the new law
In Egypt, the new insurance law that was officially approved raised the minimum capital requirement for Egyptian insurance companies to EGP 250 million in both life and property branches, and added an additional EGP 50 million if property insurer covers aviation and oil. Source:Al Morakeb Group
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Ahmad Zein
July 11, 2024
Egypt: Insurance players raise industry issues to add to new Cabinet’s agenda
Insurance experts have listed several issues and recommendations that should be placed on the agenda of Egypt’s reshuffled government’s to advance the insurance industry. Source:Middle East Insurance Review
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Ahmad Zein
July 11, 2024
Qatar: P&C insurance market has modest growth potential and is resilient
The Qatari non-life insurance sector has modest growth potential and should remain resilient, even if economic growth slows down, says S&P Global Ratings (S&P). Source:Middle East Insurance Review
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Ahmad Zein
July 11, 2024
Tunisia: FTUSA officially launches an insurance entity to combat fraud (ALFA)
In Tunisia, the “Fédération Tunisienne des Sociétés d’Assurances” (FTUSA) has officially launched an insurance sector anti-fraud entity (ALFA) involving local and foreign insurers and reinsurers operating in Tunisia and subject to the insurance law. Source:taminwamasaref
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Ahmad Zein
March 26, 2024
2023 global insured losses exceed $100bn for fourth consecutive year: Swiss Re
The Swiss Re Institute has revealed that global insured losses from natural catastrophes exceeded $100 billion for the fourth consecutive year in 2023, with the earthquake in Turkey and Syria, severe convective storms (SCS) and large-scale urban floods acting as the main drivers. Source: Reinsurance News
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Ahmad Zein
March 26, 2024
Egypt: Finance Minister: the state will not monopolize the delivery of “universal health insurance” services to citizens
The Minister, President of the Universal Health Insurance Authority, expressed his appreciation for the international support for the Egyptian efforts in reforming health insurance in Egypt by supporting the “global health insurance” system, in accordance with the latest international standards. Source: Al Morakeb
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Ahmad Zein
March 26, 2024
Egypt: Insurance federation addresses Nat CAT and climate risks
The Insurance Federation of Egypt (IFE) has said that it is studying ways of managing natural disaster risks and climate change. Source: Middle East Insurance Review
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Ahmad Zein
March 26, 2024
2024 FM Global Resilience Index introduces 6 new risk factors
FM Global, a commercial property insurer, has recently released its 2024 Resilience Index, highlighting the rapidly evolving nature of risks confronting global businesses with the addition of six new resilience factors. Source: Reinsurance news
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Ahmad Zein
March 20, 2024
Egypt: Head of “Train Accidents Pool”: 100 M EGP as technical allocations for claims reported and under settlement
Dr Mohamed Abu Al-Yazid, President of Train Accidents Pool (Insurance for Trains, Metro and Highway Accidents) revealed that the pool has paid 11.6 million EGP as claims during the last fiscal year 2022/2023, compared to 12.8 million EGP as claims paid during 2021/2022. Source: أموال الغد
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Ahmad Zein
March 20, 2024
Turkiye: Senior industry executive expects motor pricing to be liberalised
The problem of insufficient premiums in compulsory motor third-party liability insurance (known as traffic insurance) imposes a great burden on the sector, with many insurers suffering technical losses in the branch. Source: Middle East Insurance Review
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