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March 12, 2025
Tunisia: Insurance market grows by nearly 11% in 2024
Net insurance premiums for insurance companies in Tunisia reached TND3.82bn ($1.24bn) in 2024, up from TND3.45bn in the previous year, a 10.8% increase. Source: Middle East Insurance Review
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Bilal Jarjour
March 12, 2025
Egypt: EGP 74 billion in insurance premiums in 2024, a growth of 27.9%. compensation rises 28%
The insurance sector in Egypt achieved strong growth during 2024, as the total premiums collected increased by 27.9% compared to 2023, reflecting the expansion of activity and increased customer confidence in insurance services. Source: المال
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Bilal Jarjour
March 10, 2025
Aviation accidents were high in 2024 and there are no final figures on insurance companies claims.
The International Air Transport Association (IATA) published its 2024 annual report on aviation safety, in which last year saw an accident occur every 880,000 flights, while the average for 2020-2024 was one accident per 810,000 flights. Source: تامين ومصارف
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Bilal Jarjour
March 10, 2025
S&P Global expects strong profits for insurance companies in the Gulf in 2025
Credit rating agency Standard & Poor’s has predicted that 2025 will be another profitable year for GCC insurers. Source: بوابة التأمين الإقتصادية
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Bilal Jarjour
March 10, 2025
Saudi Arabia: Challenges facing the Saudi insurance sector.
Saudi Arabia’s insurance sector continues to grow at the fastest rates among the GCC, but faces three significant challenges, led by the dominance of a few large companies in the market, while smaller entities struggle to withstand fierce competition, according to S&P Global. Source: Al Morakeb
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Bilal Jarjour
March 10, 2025
22% expected increase in cyber insurance premiums during the current year
Insurance companies expect 22% growth in cyber insurance premiums this year to reach $21.6 billion. Source: المال
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Bilal Jarjour
March 7, 2025
Saudi Arabia: Rapidly growing market with increasing concentration at the top
Premium growth in Saudi Arabia in recent years has been substantial, thanks to rapid economic expansion, rate adjustments, and the adoption of new mandatory covers, according to S&P Global Ratings (S&P) credit analyst Emir Mujkic. Source: Middle East Insurance Review
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Bilal Jarjour
March 7, 2025
Syria: License to practice the profession of insurance broker
In Syria, the Minister of Finance – Chairman of the Board of Directors of the Insurance Supervisory Authority issued the decision no 14/25/100 dated 3/1/2025, which included licensing applicants to practice the profession of insurance broker (natural person). Source: Industry News
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Bilal Jarjour
March 7, 2025
Morocco: ACAPS: insurance premiums exceed 59 billion dirhams
The Supervisory Authority of Insurance and Social welfare (ACAPS) reported that premiums issued by insurance and reinsurance companies amounted to more than 59.7 billion dirhams during the year 2024, achieving an increase of 5.3% compared to year 2023. Source: العمق المغربي
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Bilal Jarjour
March 7, 2025
Algeria: Insurance sector turnover reached 163 billion dinars in 2023
The head of the Algerian Federation of Insurance and Reinsurance Companies, Ben Messa Youssef, confirmed that the insurance sector in Algeria has witnessed remarkable development in recent years, as its turnover reached 163 billion dinars in 2023, an increase by 137 billion dinars in 2020. Source: الشروق
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