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September 13, 2024
Egypt: Amendment of the fiscal year period for insurance companies in the Egyptian market
The Financial Regulatory Authority (FRA) decided to amend the fiscal year for insurance and reinsurance companies operating in the Egyptian market to start on the first of January and end on the end of December of each year. Source اموال الغد
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Bilal Jarjour
September 10, 2024
Saudi Arabia: Insurance Authority signs cooperation MoU with social insurance agency
The General Organization for Social Insurance signed a memorandum of understanding with the Saudi Insurance Authority, with the aim of cooperating in providing insurance services and products and developing electronic and digital transactions related to them, in addition to exchanging experiences and developing business between the institution and the Authority, which contributes to enhancing the…
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Bilal Jarjour
September 10, 2024
Morocco: Insurance regulator to organize program to boost insurance inclusion
The Insurance and Social Security Supervisory Authority (ACAPS) is preparing to launch the first edition of the “Emergence Program” to promote innovation and strengthen insurance inclusion. Source Middle East Insurance Review
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Bilal Jarjour
September 10, 2024
Reinsurance: Improvement in risk/return dynamics gathers momentum
Higher prices and tighter policy terms, supported by favorable risk/return dynamics and healthy investment income supports Moody’s Ratings’ positive outlook for the global reinsurance sector, says the credit rating agency. Source: Asia Insurance Review
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Bilal Jarjour
September 10, 2024
Global reinsurance market to grow by 2-3% over next three years
The market environment for reinsurers remains both promising and challenging, and after impressive growth in recent years, the marketplace is poised to grow by 2-3% over the next three years, Munich Re said at the 66th Rendez-Vous de September in Monte Carlo. Source Reinsurance news
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Bilal Jarjour
September 4, 2024
AM Best upgrades Arab Re rating for year 2024
AM Best has upgraded the Financial Strength Rating to B (Fair) from B- (Fair) of Arab Reinsurance Company SAL (Arab Re) (Lebanon). The outlook is stable. This upgrading change in the financial strength rating duly confirms the soundness of the strategies followed by the Company, which since its establishment, has overcome the difficult political, economic…
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Bilal Jarjour
September 4, 2024
Turkey: Ins association outlines industry expectations re motor
The number of insured vehicle drivers in Türkiye is expected to decrease as motor insurance premiums increase, according to the “2023 Sector Report” released last week by the Insurance Association of Türkiye (TSB). Source: Middle East Insurance Review
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Bilal Jarjour
September 4, 2024
Egypt: FRA issues regulations for non-banking companies
The Financial Regulatory Authority (FRA), headed by Dr Mohamed Farid, issued the resolution no 177 of year 2024, regarding the controls for granting and continuing the license to companies operating in the non-banking financial activities. Source: أموال الغد
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Bilal Jarjour
September 4, 2024
Egypt: Insurance brokers highlight challenges of inflation
Inflation has had a mixed impact on the insurance industry in Egypt, said Egyptian Insurance Brokers Association Chairman Mr Adel Shaker. Source: Middle East Insurance Review
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Bilal Jarjour
September 2, 2024
Abu Dhabi Market: Insurance sector’s consolidated profits fall to AED 219.8 million
A study conducted by Argaam on insurance companies listed on the Abu Dhabi Securities Exchange during the first half of 2024 showed that the consolidated profits of 14 insurance companies listed on the Abu Dhabi Securities Exchange decreased by 27% to reach AED 219.8 million, compared to profits of AED 301.6 million during the first…
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