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January 14, 2025
Tunisia: Market volume up 11% by end of 3Q2024
The insurance market in Tunisia managed to score double digit growth in the first three quarters of 2024, according to the General Insurance Authority. Source: Middle East Insurance Review
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Bilal Jarjour
January 14, 2025
Egypt: Direct compensation to insurance companies in Egypt jumps 371% in 10 years
The statistical yearbook issued by the Financial Regulatory Authority (FRA) showed a remarkable growth in direct compensation paid by insurance companies in Egypt during the period from 2013 to 2023. Source: المال
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Bilal Jarjour
January 14, 2025
Moody’s expects $20 billion in insurance damages over Los Angeles fires
Forecasts from credit rating agency Moody’s indicate that wildfires burning in the Los Angeles area will lead to huge financial losses for insurance companies, with losses expected to exceed billions of dollars due to the rise in the value of damaged property. Source: المال
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Bilal Jarjour
January 13, 2025
Bahrain to increase employer social insurance contributions
The Social Insurance Organization (SIO) announced a 1% increase in employer contributions to mandatory social insurance, effective January 2025. Source: Middle East Insurance Review
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Bilal Jarjour
January 13, 2025
Egypt: Cabinet: Social Insurance Authority’s investments increased by EGP 44.2 billion
In its weekly meeting, the Cabinet reviewed the annual report and final account of the National Organization for Social Insurance for the fiscal year ending on June 30, 2024, as well as the report of the Authority’s investments for the same period, with the aim of following up and reporting on developments. Source: Al Morakeb
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Bilal Jarjour
January 13, 2025
Egypt: Digital Transformations Driving the Future of Life Insurance Industry
The Egyptian Insurance Federation confirmed in its bulletin issued on Wednesday, January 8, 2025, that the life insurance sector is undergoing an unprecedented transformation driven by rapid technological developments, demographic changes, and global economic transformations. Source: المال
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Bilal Jarjour
January 13, 2025
The cost of global disasters is $ 320 billion in 2024
The world’s largest reinsurance group said hurricanes, fires and other disasters caused losses worth $320 billion in 2024, or about a third more than a year earlier, highlighting losses from climate change and real estate development in areas affected by extreme weather. Source: Al Morakeb
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Bilal Jarjour
January 10, 2025
Lebanon: hospitals vs ins companies: will patients pay the 15% difference?
In Lebanon, the hospital sector is witnessing a new struggle, the basis of which is raising hospital fees. The Syndicate of Hospitals announced that this decision would come into effect at the start of the new year, at a 15% rate on the tariffs contracted with each of the insurance companies that expressed their dissatisfaction…
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Bilal Jarjour
January 10, 2025
Dubai: Insurers add dental, mental health coverage as premiums rise up to 20%
Dubai residents and companies will have to shell out up to 20 per cent more for their health insurance but insurers have added some major benefits such as dental, psychiatric, organ transplant and dialysis in the new upgraded packages Source: Khaleej Times
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Bilal Jarjour
January 10, 2025
Life insurance premiums expected to rise globally to $5 trillion by 2035
The Egyptian Insurance Federation revealed that the global life insurance industry is witnessing a remarkable boom, adding that total global life insurance premiums are expected to reach $ 4.8 trillion by 2035, compared to $ 3.1 trillion for 2024, driven by higher interest rates. Source: أموال الغد
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