Maarad Street, Beirut Central District, Lebanon
arabre@arabre.com
+961 1 989500
May 23, 2025
Aon and Moody’s expand reinsurance casualty collaboration into commercial risk
Aon and Moody’s Insurance Solutions have announced the expansion of their reinsurance casualty collaboration into commercial risk. Source: Asia Reinsurance Review
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Bilal Jarjour
May 20, 2025
Global insured losses reach $146bn in 2024, driven by hurricanes & SCS: Swiss Re
A new report from the Swiss Re Institute has revealed that global insured losses reached $146 billion in 2024, up from $125 billion in 2023 and significantly exceeding the 10-year average of $108 billion. Source: Reinsurance News
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Bilal Jarjour
May 20, 2025
Islamic insurance: market grows at faster pace than broader insurance industry
The Islamic insurance sector demonstrated sustained growth momentum in 2024, significantly outpacing the broader insurance industry, according to the “Islamic Financial Services Industry Stability Report 2025” published by the Islamic Financial Services Board (IFSB). Source: Middle East Insurance Review
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Bilal Jarjour
May 20, 2025
Egypt: net property ins premiums to reach EGP31 bn in 2023/2024
Property and liability insurance companies in the Egyptian market achieved net premiums of nearly EGP 31 billion during the 2023/2024 fiscal year, compared to approximately EGP 21 billion during the previous fiscal year, 2022/2023, being a growth of 47.6%. Source: أموال الغد
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Bilal Jarjour
May 20, 2025
Saudi Arabia: per capita insurance spending to rise to SAR 2367 (up by 16%) in 2024
The annual report on the insurance market in the Kingdom, issued by the Insurance Authority, showed that per capita insurance spending in Saudi Arabia will rise by 16% to SAR 2367 in 2024, compared to SAR 2035 in 2023. Source: Al Morakeb Group
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Bilal Jarjour
May 19, 2025
UAE: Insurers see bright and sunny 1Q2025
The absence of rains coupled with rising premium rates has led to insurance revenue growing by 21% in the first three months of 2025 in the UAE, reaching AED11.9bn ($3.2bn) versus AED9.8bn in the corresponding period last year Source: Middle East Insurance Review
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Bilal Jarjour
May 19, 2025
Egypt: Net property ins premiums to reach EGP 31bn in 2023/2024
Property and liability insurance companies in the Egyptian market achieved net premiums of nearly EGP 31 billion during the 2023/2024 fiscal year, compared to approximately EGP 21 billion during the previous fiscal year, 2022/2023, being a growth of 47.6%. Source: أموال الغد
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Bilal Jarjour
May 19, 2025
Egypt: FRA: Basel III standards to be implemented on non-banking finance companies soon
The Unified Insurance Law represents a qualitative leap in developing the legislative framework regulating the Egyptian insurance market. Source: أموال الغد
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Bilal Jarjour
May 19, 2025
Türkiye: Insurers to cover about 10% of losses from mammoth Istanbul earthquake
Türkiye is expected to suffer economic losses of around $300bn in the event of a major earthquake striking the country’s commercial hub, Istanbul, the president of the Insurance Association of Türkiye (TSB), Mr. Ugur Gulen, said. Source: Middle East Insurance Review
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Bilal Jarjour
May 16, 2025
Egypt: Insurance companies’ profits near EGP 26 billion, a growth of 84.2%
Insurance companies operating in the Egyptian market achieved total pre-tax profits of EGP 25.9 billion during fiscal year 2023/2024, compared to EGP 14.06 billion during the prior fiscal year, representing a growth of 84.2%, according to FRA. Source: أموال الغد
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