June 19, 2024

Morocco: Insurance industry’s 1Q2024 growth slowed by life business

Premiums issued by insurance and reinsurance companies in Morocco reached MAD17.24bn ($1.73bn) in the first quarter of 2024, an increase of 1.8% compared to the corresponding quarter of the previous financial year, according to the Insurance and Social Security Supervisory Authority Source: Middle East Insurance Review

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POSTED BY

Bilal Jarjour

June 19, 2024

Turkey: Insurance association carries out strategy study for 2025-2030

The Insurance Association of Turkiye (TSB) has started studies on strategies for the industry for the years 2025-2030. Source: Middle Eat Insurance Review

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POSTED BY

Bilal Jarjour

June 19, 2024

Floods cause estimated insured losses of as much as US$2.4bn

Total insured losses arising from the 2024 Gulf Floods event are estimated to exceed $1.6bn and could reach as high as $2.4bn for the UAE, of which Motor represents ~10%, according to an analysis by Guy Carpenter, with information available as of 30 May 2024. Source: Middle East Insurance Review

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POSTED BY

Bilal Jarjour

June 19, 2024

Insured losses in Germany from Central Europe floods could hit $3.2bn: Moody’s RMS

Estimated insured losses in Germany from the Central Europe Floods will likely fall within the range of €2 billion to €3 billion (US$2.1 billion to US$3.2 billion), Moody’s RMS Event Response has state Source: Re insurance News

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POSTED BY

Bilal Jarjour

June 13, 2024

Bahrain: 5% annual growth in the insurance sector

Economist and banker Arif Khalifa said that the insurance sector is growing in Bahrain at an annual rate of 5%, pointing out that the higher the growth of the insurance sector, the greater the indicators of economic recovery. Source: Al Morakeb Group

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POSTED BY

Bilal Jarjour

June 13, 2024

Egypt: via telecom companies, the ins sector is taking the path of new marketing channels to fill the market gap

In Egypt, new controls were issued by the Financial Regulatory Authority for the marketing of insurance company products through the branches of telecommunication companies, allowing marketing of approved insurance products. Source: أموال الغد

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POSTED BY

Bilal Jarjour

June 13, 2024

Global Insurance Market Insights by Aon

Aon has published its global insurance market insights which highlight insurance market trends across pricing, capacity, underwriting, limits, deductibles and coverages. Source: Aon

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POSTED BY

Bilal Jarjour

June 13, 2024

Best’s Market Segment Report: AM Best Revises Outlook for Global Reinsurance Industry to Positive

AM Best has revised its market segment outlook for the global reinsurance segment to positive from stable, citing robust profit margins along with higher attachment points and tighter terms and conditions that followed a period of drastic repricing. Source: AM Best

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POSTED BY

Bilal Jarjour

June 10, 2024

In Morocco, ACAPS publishes its strategic plan 2024-2026

The Supervisory Authority of Insurance and Social Welfare (ACAPS) announced its third strategic plan for 2024-2026. Source: ACAPS

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POSTED BY

Bilal Jarjour

June 10, 2024

Analysis: Listed UAE insurance firms can expect major Q2 losses post floods

Listed insurance companies in the UAE are expected to see losses this quarter following unprecedented rainfall, which led to floods in the emirates last month and left them heavily impacted.  Source: Zawya

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POSTED BY

Bilal Jarjour