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January 6, 2025
Algeria: Insurance market increases by 5% in 3Q2024
The insurance sector in Algeria achieves a high turnover in the first 9 months of the preceding year, with international acceptances and takaful showing huge growth. Source: Middle East Insurance Review
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Bilal Jarjour
January 6, 2025
Egypt: Egypt’s insurance sector achieves EGP 8.1 billion in premiums in October 2024
The Financial Regulatory Authority (FRA) revealed that the insurance sector in Egypt achieved remarkable growth during October 2024, with the value of premiums collected reaching EGP 8.1 billion, an increase of 26.6% compared to EGP 6.4 billion in October 2023. Source:المال
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Bilal Jarjour
January 6, 2025
Losses of about $100 billion a year from natural disasters in the world
Losses covered by insurers due to natural disasters exceeded $100 billion for the fifth consecutive year in 2024. As in 2023, total losses this year increased again due to those caused by severe storms. Source: Al Morakeb
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Bilal Jarjour
January 3, 2025
Saudi Arabia: Launching health insurance compliance service for establishments to enhance healthcare inclusion in the Kingdom
A healthcare insurance compliance provider has been launched nowadays, representing a joint effort by means of the Council for Health Insurance, the Ministry of Human Resources and Social Development, and the General Organization for Social Insurance. Source: هيئة التأمين
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Bilal Jarjour
January 3, 2025
Flood events drive 78% of international industry losses in 2024: CRESTA
According to the Q4 CRESTA Industry Loss Index (CLIX) update, which provides data on non-US catastrophe events that have generated industry losses above $1 billion, 2024 was dominated by flood events, driving 78% of the total industry loss figure. Source: Re insurance News
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Bilal Jarjour
January 3, 2025
Egypt: 15 developments awaited by the Egyptian insurance sector during the new year
As the new year begins, the Egyptian insurance sector is awaiting the repercussions of the legislative and technological developments witnessed by the Egyptian market throughout 2024, the most prominent of which was the issuance of the Unified Insurance Law. Source: اموال الغد
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Bilal Jarjour
January 3, 2025
Reinsurer returns to remain strong through 2026: Guy Carpenter
With an expected return on equity (ROE) of 17.3% for 2024, reinsurers are projected to remain strong through 2026, with the annual ROE forecasted to consistently exceed the cost of equity. Source: Reinsurance news
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Bilal Jarjour
December 31, 2024
What is Parametric insurance and the reasons for its preference?
The term parametric insurance refers to a type of smart insurance contracts that protect the policyholder against the occurrence of a specific event by paying a predetermined amount based on certain parameters on the size of the event, rather than the size of the losses in the traditional compensation policy. Source: بوابة التامين الاقتصادية
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Bilal Jarjour
December 31, 2024
Egypt: The Egyptian Insurance Federation pushes the sector towards comprehensive digitization
The Egyptian Insurance Federation emphasized in its publication issued today the importance of digital transformation in developing the auto insurance sector, noting that technology has become an essential element in improving the quality of services provided and enhancing transparency. Source: المال
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Bilal Jarjour
December 31, 2024
Losses caused by protests and insurance coverage
Riot insurance is available in insurance companies and covers all types of riots, and the coverage extends to strikes, demonstrations, riots, civil disobedience and arson. Noting that insurance targets all properties, such as cars, shops, commercial complexes, buildings and homes. A representative of the American Insurance Information Institute confirmed that civil unrest is an insurance…
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