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September 2, 2024
Jordan: Spotlight on the amended systems of compulsory motor insurance and the unified office in Jordan
In a meeting of the General Assembly of the Motor Insurance Committee held at the headquarters of the Jordan Federation of Insurance Companies, the CEO of the Federation, Dr Muayad Al-Kloub, briefed the participating members on the most prominent items of the compulsory vehicle insurance system and the unified office system issued recently. Source: تامين…
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Bilal Jarjour
September 2, 2024
Americans account for half of the world’s insurance spending, and in 2028, the average per capita insurance coverage rises to $15,000, 30 times more than Asians and 7 times more than Europeans
Although countries such as China, Japan, the United Kingdom and Germany all have huge insurance markets, the United States remains the largest spender on the insurance sector by a large margin between them and those countries. Source: تامين ومصارف
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Bilal Jarjour
August 29, 2024
Red Sea insurance nearly doubles after attacked oil tanker appears to be leaking oil
The cost of insurance for ships sailing through the Red Sea has nearly doubled after Yemen’s Houthis attacked a tanker that appears to be leaking oil, with environmental fears growing for the trade route, industry sources said on Wednesday. Source: Insurance Journal
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Bilal Jarjour
August 29, 2024
Reinsurers’ financial strength & diversification key to mitigating cat losses: Swiss Re
After reinsurers paid over $150 billion in global claims across property, casualty, and specialty lines in 2023, Swiss Re’s Urs Baertschi has emphasised the industry’s critical role as a shock absorber, a springboard for addressing the protection gap, and a compass for data-driven decision-making. Source: Reinsurance News
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Bilal Jarjour
August 29, 2024
Egypt: Head of the Financial Regulatory Authority recommends insurance companies to adjust their status with the new law
Dr Mohamed Farid, Chairman of the Board of Directors of the Financial Regulatory Authority, recommended that companies licensed to practice insurance activities in their various branches adjust their status with the Unified Insurance Law recently issued by the President of the Republic by law no 155 of year 2024. Source: أموال الغد
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Bilal Jarjour
August 29, 2024
Tunisia: Direct insurers’ combined premium income and profits show steady growth in 2023
Twenty direct insurers in Tunisia achieved a combined turnover in 2023 of TND2,803m ($923m), 6.9% higher compared to TND2,621m in 2022, according to an analysis by Tera Finances. Source: Middle East Insurance Review
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Bilal Jarjour
August 28, 2024
Algeria: Proposals raised to improve takaful legislation
While takaful has gained significant acceptance among Algerians, the sector still faces some hurdles that hinder its growth, including regulatory and technological obstacles and the lack of awareness campaigns, according to two academics. Source: Middle East Insurance Review
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Bilal Jarjour
August 28, 2024
Saudi Arabia: Companies’ income rises to 897 million riyals… IA publishes sector results for Q1
The Insurance Authority published, through its account on the “X” platform, the results of the insurance sector for the first quarter of year 2024, indicating an increase in the net income of insurance companies to reach 897 million riyals. Source: الوئام
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Bilal Jarjour
August 28, 2024
Iraq: Issuance of the internal by-laws of the Iraqi Association of Insurers and Reinsurers
The Iraqi Gazette no 4789 issued on 26 August 2024, the internal by-laws of the Iraqi Association of Insurers and Reinsurers no 1 of year 2024. Source: Al Morakeb Group
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Bilal Jarjour
August 28, 2024
Gulf: Insurance companies make profits despite heavy rains
Heavy rains have damaged vehicles, homes and businesses, leading to a huge increase in insurance claims. Source: خليج تايمز
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