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December 16, 2024
Morocco: Insurance industry leverages digitalization to promote access
Morocco is banking on digitalization as a strategic lever to expand access to insurance, the president of the Insurance and Social Security Supervisory Authority (ACAPS). Source: Middle East Insurance Review
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Bilal Jarjour
December 16, 2024
10 Gulf insurance companies achieve profits of $ 1293.8 million in 9 months. The Kingdom accounts for more than half of its profits.
The top 10 GCC insurance companies in terms of profitability recorded net profits during the 9 months of 2024 of $ 1293.8 million compared to $ 991.1 million for the same period, achieving a year-on-year growth of 30.5%, an increase equivalent to about $ 302.6 million. Source: صحيفة المال
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Bilal Jarjour
December 16, 2024
UAE: Analysis of insurance sector’s financial results reveals unexpected outcome
The UAE insurance industry’s profit before tax increased by 8%, reaching AED2.0bn ($545m) in the first nine months of this year, from AED1.8bn in the corresponding period in 2023, points out Badri Management Consultancy which specialises in actuarial services. Source: Middle East Insurance Review
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Bilal Jarjour
December 16, 2024
Algeria: Government to bar use of cash to pay for mandatory insurance premiums
The Algerian government will prohibit cash payments in the insurance, real estate, and automobile sectors in a fight against money laundering, tax evasion, and other black-market activities. Source: Middle East Insurance Review
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Bilal Jarjour
December 13, 2024
Egypt: Insurance companies enter the era of sustainability through carbon market
The Financial Regulatory Authority announced the launch of the first voluntary carbon market in Egypt, opening new horizons for Egyptian insurance companies to play an effective role in combating climate change. Source: المال
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Bilal Jarjour
December 13, 2024
Saudi Arabia: Insurers must maintain underwriting discipline in 2025
Top-line growth in Saudi Arabia’s insurance sector will moderate to about 10%-15% in 2025, after strong growth since 2022 and a 17% increase in insurance revenue in third-quarter 2024, forecasts S&P Global Ratings (S&P). Source: Middle East Insurance Review
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Bilal Jarjour
December 13, 2024
Saudi Arabia: Al-Tamimi meets with presidents of insurance companies
The CEO of the Insurance Authority, Eng Naji Al-Faisal Al-Tamimi, met with the presidents of insurance and reinsurance companies at the authority’s headquarters, with the aim to tackle the most important challenges and discuss ways to support and develop the sector. Source: MediaTameen
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Bilal Jarjour
December 13, 2024
Climate change accounts for over a third of insured weather losses this century and rising
Cut emissions today to insure tomorrow, warns report as 2024 marks the first year to cross red line of 1.5°C global heating. Source: Insure Our Future
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Bilal Jarjour
December 10, 2024
Morocco’s stature grows in international insurance organizations
The Insurance and Social Security Supervisory Authority (ACAPS) has been re-elected as vice-chair of the executive committee of the International Association of Insurance Supervisors (IAIS), in the person of Mrs. Siham Ramli, director of Communication and International Relations. Source: Middle East Insurance Review
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Bilal Jarjour
December 10, 2024
Kingdom of Saudi Arabia: “Insurance Lab” to promote innovation and develop insurance technology
Based on enabling insurance technology and supporting innovation, the Saudi Insurance Authority has launched a draft regulatory framework for the legislative experimental environment for the “Insurance Lab” project through a survey platform, inviting all interested parties to submit their opinions and views on the project. Source: تأمين ومصارف
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