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December 24, 2024
Morocco: Insurance Authority Seeks Intermediaries for Large Companies in Absence of Law
The Insurance and Social Welfare Supervisory Authority decided to organize a competition to enter the profession of insurance broker, in June 2025, for those wishing to practice the profession of broker with major companies monopolizing the field. Source: Al Morakeb
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Bilal Jarjour
December 24, 2024
Fairly stable conditions expected at 1.1, reinsurance demand to remain high in 2025: RBC Capital Markets
The reinsurance industry should expect to see fairly stable conditions at the upcoming January 1st reinsurance renewals, with property catastrophe reinsurance pricing anticipated to be somewhere close to flat due to losses from recent hurricanes Helene and Milton not developing as adversely. Source: Reinsurance news
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Bilal Jarjour
December 24, 2024
121 billion dollars is the value of trade and investment insurance operations in the region during 2023.
The “Arab Investment and Export Credit Guarantee Corporation (Dhaman)” announced an increase in the value of existing commitments for investment and financing insurance. Source: الشرق الاوسط
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Bilal Jarjour
December 21, 2024
Jordan: Compulsory insurance is a hemorrhage that drains the lifeblood of insurance companies arteries
Raising the value of compulsory insurance, enacting a new insurance law, establishing specialized dispute settlement courts, and licensing qualified insurance experts Proposed solutions to save insurance companies from bankruptcy. Source: اخبار البلد
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Bilal Jarjour
December 21, 2024
Kuwait: Suspension of “Insurance repositories”
The Chairman of the Supreme Committee of the Insurance Regulatory Unit, Mohammed Al-Otaibi, approved the temporary suspension of Resolution No. 38 of 2023 regarding the issuance of rules regulating the activity of central insurance repositories and its amendments, in order to achieve the public interest. Source: Al Morakeb
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Bilal Jarjour
December 21, 2024
Egypt: Insurance companies adopt digital transformation plans to prepare for future challenges and seize growth opportunities
The insurance sector in Egypt is accelerating to keep pace with the global development in activity, especially in the field of digital transformation, and to benefit from modern technology applications in developing the internal work of companies and improving the environment for dealing with customers. Source: المال
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Bilal Jarjour
December 21, 2024
Majority of US insurers expect to exceed a growth rate of 5% in 2025
Global insurance and reinsurance broking group Aon has released its latest capital poll, which showcases that most US insurers expect to exceed a growth rate of 5% in 2025. Source: Reinsurance News
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Bilal Jarjour
December 20, 2024
Arab Re BOD meeting in Turkey
The Board of Directors of Arab Reinsurance Company held a meeting in Istanbul, Turkey on 12-12-2024, chaired by Sheikh Khaldoun Barakat to discuss its agenda. Source: Arab Re
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Bilal Jarjour
December 20, 2024
Egypt spends 240 billion pounds on health insurance in 10 years
In Egypt, the Minister of Health explained, during a press conference following the weekly government meeting, that the comprehensive insurance system has expanded significantly over the past years. Source: خاص عن مصر
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Bilal Jarjour
December 20, 2024
Morocco: ACAPS imposes severe penalties on insurance brokers
The Insurance and Social Welfare Supervisory Authority (ACAPS) has implemented a set of disciplinary measures against insurance brokers, with penalties ranging from withdrawal and cancellation of credits, in addition to warnings and reprimands, following the implementation of field inspections and monitoring. The accreditations of 82 brokers were withdrawn and the licenses of 9 direct show…
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