July 18, 2024
Arab Re BOD meeting in Turkey and Sheikh Khaldoun Barakat re-elected Chairman for a 3-year tenure
On 26/6/2024, Arab Reinsurance Company held a Board of Directors meeting chaired by Sheikh Khaldoun Barakat in Istanbul, Turkey, in order to discuss the agenda’s topics. The BOD members expressed their satisfaction with the technical and financial results achieved so far, in the current year, praising the efforts of the executive management for these results.…
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Bilal Jarjour
July 17, 2024
UAE: Most insurers to see profit plunge in 2Q2024 due to April floods
UAE insurance companies’ profits could plunge by up to one-fourth in the second quarter due to unprecedented rains in April, which caused severe property and vehicle damages. Source: Middle East Insurance Review
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Bilal Jarjour
July 17, 2024
Egypt: FRA signs a cooperation agreement with NTRA
The Financial Regulatory Authority (FRA) signed the first cooperation with the National Telecom Regulatory Authority (NTRA) as part of efforts to support digital transformation and financial inclusion efforts by signing an agreement on customer data verification service in Egypt. Source:أموال الغد
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Bilal Jarjour
July 17, 2024
Kuwait: Insurance Unit the first line of protection for customers and companies
The Head of the Insurance Regulatory Unit, Mohammad Al Otaibi, listed the most prominent risks facing the insurance sector, and the plans developed by the unit to combat negative practices, and to protect customers and companies. Source: Al Jarida
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Bilal Jarjour
July 17, 2024
Egypt: President El Sisi signs the “unified insurance law”
In Egypt, President Abdel Fattah El Sisi signed the law no 155 of year 2024 issuing the “unified insurance law”. The provisions of this law and annex apply to insurance and reinsurance activities and related insurance services, professions and activities. Source: اليوم السابع
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Bilal Jarjour
July 6, 2024
Jordan: Central Bank: draft law to regulate the relationship between insurers and insureds
The Governor of the Central Bank of Jordan, Adel Cherkes, confirmed that the bank is working on a draft insurance law to regulate the contractual relationship between insurance companies and their insureds, and to provide a legal basis for the stability of the contractual relationship between them. Source: jfranews.com.jo
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Bilal Jarjour
July 6, 2024
Algeria: Insurance industry grows by 4% in 1Q2024
The insurance industry, including takaful, grew by 4% to DZD48.4bn ($359.6m) in 1Q2024 in terms of overall revenue (direct and reinsurance acceptances), according to provisional data from the National Insurance Council (CNA). Source: Middle East Insurance Review
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Bilal Jarjour
July 6, 2024
Morocco: Resilient insurance market sees 6.2% profit increase
Despite rising interest rates, the Moroccan insurance sector managed to maintain its growth in 2023, albeit at a slower pace, according to the Committee for Coordination and Monitoring of Systemic Risks (CCSRS). Source: 7NEWSMOROCCO
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Bilal Jarjour
July 6, 2024
Lebanon: Health insurance: premiums on the rise
Medical care costs are experiencing significant inflation. Major private insurers in the Lebanese market, contacted by This is Beirut, have indicated that their health insurance premiums will increase by about 10% starting July 1st. Source: THIS IS BEIRUT
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Bilal Jarjour
July 2, 2024
Morocco: a challenging hot spot for farmers, society and crop re/insurance
Using process-based crop growth models (CGMs), Swiss Re has been able to gain new insights into the challenges facing the sector in Morocco. Source: Swiss Re
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