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March 9, 2024
UAE: “Sanadak” launched as the first unit for settling banking and insurance disputes
In the UAE, Sanadak has begun its operative operations to develop the government services system and in compliance with the provisions of the legislation in force from the Central Bank of the United Arab Emirates. Source: almorakebgroup.com
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Bilal Jarjour
March 9, 2024
Egypt: Experts: An expected recovery in insurance premiums
The insurance sector is betting on unifying the exchange rate to increase premiums, along with expectations of increased returns from the sector’s investment portfolio. Source: almorakebgroup.com
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Bilal Jarjour
March 8, 2024
Reinsurance demand to remain strong but prices to peak in 2024, says Moody’s
Analysts at Moody’s Investors Service expect demand for reinsurance protection to remain strong in 2024 but warns that while reinsurers have scope to push through further price increases, as competition intensifies in the sector, prices will likely peak this year. Source: Reinsurance News
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Bilal Jarjour
March 8, 2024
Oman: More listed insurers see higher profits in 2023
The insurance service results for listed insurance companies in Oman jumped by 28% year on year to OMR25m ($65m) in 2023, according to an analysis by Badri Management Consultancy. Source: Middle East Insurance Review
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Bilal Jarjour
March 8, 2024
Egypt: insurance experts monitor the repercussions of the Central Bank’s decisions on the sector
Amwal Al-Ghad monitored the opinions of Egyptian insurance industry experts on the decisions of the Central Bank of Egypt issued on Wednesday regarding raising interest by 6% and setting the exchange rate according to market mechanisms, and the impact of this on the insurance sector. Source: أموال الغد
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Bilal Jarjour
March 8, 2024
Egypt: the cost of insuring Egyptian debt falls to its lowest level in 22 months
Data from Standard & Poor’s Global Market Intelligence showed on that the cost of insuring Egyptian debt in hard currency fell to its lowest levels since April 2022. Source: Leb Economy
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Bilal Jarjour
March 6, 2024
UAE: Central Bank obliges insurance companies to settle motor claims within 15 days
The Central Bank of the UAE obliged local insurance companies to settle motor claims due to rain and weather fluctuations that are not officially classified as natural disasters, within 15 days of receiving the due claims. Source: مباشر
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Bilal Jarjour
March 6, 2024
Saudi Arabia: Promising opportunities for growth in the insurance sector and attracting local and foreign investments
An analysis conducted by Mal newspaper confirmed that the insurance sector in the Kingdom of Saudi Arabia has promising and feasible opportunities to attract local and foreign investments, and the opportunity for growth of this sector is promising in the future. Source: مال
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Bilal Jarjour
March 6, 2024
Egypt: FRA: increase in the number of private and government insurance funds to 682 by the end of year 2023
In Egypt, Dr Islam Azzam, Chairman of the Financial Regulatory Authority, announced an increase in the number of private and government insurance funds in the Egyptian market to 682 funds with 33 million clients by the end of year 2023. Source: أموال الغد
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Bilal Jarjour
March 6, 2024
Kuwait: Non-life business forecast to drive insurance market between 2023 and 2028
The insurance market in Kuwait is estimated to grow at a CAGR of 6.4% between 2023 and 2028 to reach $2.4bn, according to UAE-based investment banking advisory firm, Alpen Capital. Source: Middle East Insurance Review
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