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June 10, 2024
Global: health & medical insurance market set to surge to $3.4 trillion by 2028
Health and medical insurance aren’t just important; they’re essential worldwide. Events like COVID-19, the Ukraine-Russia war, and the increase in diseases due to sedentary lifestyles are driving market growth. Source: bccResearch
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Bilal Jarjour
June 5, 2024
Middle East: Insurance market softens in 1Q
Insurance market conditions were generally on a softening trend in the first quarter of this year, with most risks experiencing price reductions, underwriting flexibility and sufficient (and increasing) capacity in a competitive market environment. Source: Middle East Insurance Review
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Bilal Jarjour
June 5, 2024
Egypt: with a growth rate of 21%… insurance companies achieve premiums exceeding 22 billion pounds within 3 months
Insurance companies operating in the Egyptian market achieved a total collected premiums of 22.046 billion pounds during the first quarter of year 2024, compared to 18.215 billion pounds during the same period of year 2023, with a growth rate of 21%, according to the monthly reports issued by the Financial Supervisory Authority. Source: أموال الغد
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Bilal Jarjour
June 5, 2024
Takaful market sees huge jump in contributions in 1Q2024
Takaful contributions in Egypt jumped by 56.4% during the first quarter of this year to reach EGP2.8bn ($747m), compared to EGP1.8bn during the corresponding period in 2023, according to a report released by the Financial Regulatory Authority (FRA) on non-banking financial activities. Source: Middle East Insurance Review
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Bilal Jarjour
June 5, 2024
Moody’s: The rise of private credit in life insurers’ investment strategies
The growing use of private credit by life insurers to optimize investment portfolios and align asset allocation with product liabilities is garnering heightened attention from regulators globally, including those highlighted in a recent report by financial research firm, Moody’s. Source: Reinsurance News
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Bilal Jarjour
June 3, 2024
Global: Allianz Insurance Report 2024: Transformative years ahead for the insurance sector
According to the Allianz Global Insurance report, the global insurance industry grew by an estimated 7.5% in 2023, clocking the fastest growth since 2006. Source: Allianz
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Bilal Jarjour
June 3, 2024
Qatar Chamber’s Insurance Committee reviews pricing of insurance services
The Insurance Committee of the Qatar Chamber discussed several key topics, including the pricing of mandatory insurance for residents, the participation of insurance companies in the pricing of insurance services, the commission rate of insurance brokerage firms and the scope of their work, digital transformation, insurance for electric cars, and other topics. Source: وكالة الأنباء…
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Bilal Jarjour
June 3, 2024
GCC zone: listed insurers’ Q1 2024 results
In partnership with Lux Actuaries and Consultants, Insurance Monitor has published the main quarterly performance indicators for the 77 listed insurers operating in the GCC (Gulf Cooperation Council) zone. The study was carried out in accordance with the new International Financial Reporting Standard no 17. Source: Atlas Magazine
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Bilal Jarjour
June 3, 2024
Egypt: insurance sector entities turn to actuaries to implement the new accounting standard
Insurance companies resorted to actuarial experts alongside specialists in information systems in preparation for the mandatory application of the “Egyptian standard 50” for accounting. It is worth noting that the Financial Supervisory Authority has issued a decision in year 2022 to begin the mandatory application of the “accounting standard 50” in the insurance sector, beginning…
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Bilal Jarjour
May 29, 2024
Some insurers in the spotlight over capital position
The new minimum capital requirement of SAR300m ($80m) for insurance companies in Saudi Arabia by the end of 2024 puts at least five insurers on the radar, according to Insurance Monitor, a research and consulting firm. Source Middle East Insurance Review
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