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June 5, 2025
Egypt: with the opening of the Grand Egyptian Museum, the insurance sector offers its services to protect the “Treasures of the Pharaohs”
Hidden within the walls of museums are precious treasures that tell the story of Egypt. However, there are numerous risks that threaten these treasures, such as fires, theft, and natural hazards. This raises questions about whether some of these precious artifacts have been lost, or whether a witness to an era in the country’s history,…
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Bilal Jarjour
June 3, 2025
Egypt: FRA announces the list of non-abiding entities to its supervision
In Egypt, the Financial Regulatory Authority (FRA) announced a list of non-abiding entities identified based on complaints received by the Authority. These entities were found to be conducting non-banking financial activities in violation of the laws and regulations governing non-banking financial services. Source: أموال الغد
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Bilal Jarjour
June 3, 2025
Egypt’s FRA head urges stronger climate risk data for maritime insurance planning
Dr Mohamed Farid, Chairman of Egypt’s Financial Regulatory Authority (FRA), emphasized the critical need to build and improve climate risk databases to support sound planning in the insurance sector. Source: business today
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Bilal Jarjour
June 3, 2025
GCC: Q1 2025 earnings of listed insurers slide on underwriting volatility and lower yields
Listed GCC insurers saw overall earnings decline in Q1 2025, with net profits slipping by 1.4% to USD 628mn from USD 637mn in Q1 2024. Source: Insurance Monitor
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Bilal Jarjour
June 3, 2025
Allianz Global Insurance Report 2025: Rising demand for protection
According to the Allianz Global Insurance Report 2025, the global insurance industry is estimated to have grown by +8.6% in 2024. Source: Allianz
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Bilal Jarjour
May 30, 2025
Oman: 2.1 billion Riyals is the added value to the economy from financial and insurance activities
The added value to the Omani economy from financial and insurance activities increased to 2.128 billion Omani Riyals by the end of 2024, compared to 2.090 billion at the end of 2023, achieving a growth rate of 1.8 percent. Source: عُمان
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Bilal Jarjour
May 30, 2025
Egypt: Al Zoheiry: the insurance gap has reached $2.8bn
Mr. Alaa Al Zoheiry, Chairman of the Insurance Federation of Egypt, indicated during the Sharm El Sheikh RDV that specialists from abroad representing global reinsurance companies were invited to discuss the insurance gap and how to end it. He noted that the insurance gap in Egypt has reached $2.8 billion. Source: الوطن
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Bilal Jarjour
May 30, 2025
Saudi Arabia: expected wave of mergers in the Saudi insurance sector
Expert Adel Al-Essa stated that the insurance sector in Saudi Arabia has witnessed a wave of successful mergers. However, the number of mergers has decreased in the past period. With some companies likely to incur losses starting in year 2024, a new wave of mergers is expected to emerge very soon. Source: Al Morakeb Group
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Bilal Jarjour
May 30, 2025
Turkey: Life insurers’ technical profits almost double in 1Q2025
The total technical profits in the life insurance branch in Türkiye increased by 91% in the first three months of this year to over TRY6.4bn ($164m), compared to the corresponding quarter last year. Source: Middle East Insurance Review
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Bilal Jarjour
May 28, 2025
Middle East: insurers strive for balance between fossil fuels and renewable clean energy
The energy sector in the Middle East is balancing historic dominance in fossil fuels with the shift to renewable clean energy, said the global head of downstream broking, Natural Resources, at WTW, Mr Andrew Brunero, in a report. Source: Middle East Insurance Review
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