October 31, 2024
Algeria: Opening the activity of brokers in stock exchange operations to insurance companies in Algeria
The Commission for the Regulation and Control of Stock Exchange Operations (COSOP) has proposed to the public authorities to open the way for insurance companies to practice the activity of brokers in stock exchange operations, as part of the preparation of a preliminary draft on the financial market. Source:الشروق
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Bilal Jarjour
October 31, 2024
Jordan: Insurance premiums grow by nearly 5% to over US$850m in Jan-Sep 2024
Total insurance premiums in Jordan in the past nine months of this year amounted to JOD603m ($851m), an increase of about 4.9% compared to the corresponding period in 2023, according to statistics released by the Central Bank of Jordan. Source: Middle East Insurance Review
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Bilal Jarjour
October 31, 2024
Egypt: Insurance and brokerage companies are obliged to adopt the amendment of their articles of association in accordance with the unified law within a month
The Financial Regulatory Authority (FRA) has obligated insurance companies and sector-related activities to hold their Extraordinary General Assembly to amend their articles of association and basic purpose in accordance with the Unified Insurance Law issued last July, no later than early December. Source: اموال الغد
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Bilal Jarjour
October 31, 2024
Saudi Arabia: Per capita spending on insurance in the Kingdom rises to 2034 riyals annually
The annual report of the insurance market in the Kingdom issued by the Insurance Authority showed an increase in the rate of per capita spending on insurance in Saudi Arabia by 30% to 2034 riyals in 2023 compared to 1564 riyals during a year. Source: Economic Insurance Portal
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Bilal Jarjour
October 29, 2024
Global commercial insurance rates fall 1% in Q3, the first quarterly decline in seven years
According to the Global Insurance Market Index released by Marsh, global commercial insurance rates fell 1% in the third quarter of 2024, the first time the index has recorded a quarterly decline since the third quarter of 2017. Source: Marsh
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Bilal Jarjour
October 29, 2024
Algeria: Algerian insurance market achieves 8.8% growth during the first semester of 2024
The National Insurance Market, in all its branches, achieved a turnover of 90.2 billion during the first semester of 2024, an increase of 8.8 percent compared to the same period in 2023, according to the latest quarterly results of the National Insurance Council. Source: Algerian press service
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Bilal Jarjour
October 29, 2024
9M’24 insured natural catastrophe losses above average at $102bn: Aon
Global broking group Aon estimates insurance industry losses from natural catastrophe events in the first nine months of 2024 of at least $102 billion, with the impacts of hurricane Milton and additional events expected in the rest of the year poised to push annual insured losses above the $125 billion seen in 2023. Source: Reinsurance…
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Bilal Jarjour
October 29, 2024
Egypt: the life ins sector expected to grow annually by 10% in the coming period
The life insurance sector in Egypt is undergoing a radical transformation, which is becoming increasingly important in light of economic and social changes. Hence, there are expectations for the growth of the insurance market in Egypt, as the life insurance market in Egypt is witnessing increasing growth and the penetration rate of insurance among Egyptians…
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Bilal Jarjour
October 28, 2024
The motor insurance revolution
With a turnover of 1920 billion USD posted in 2023, motor insurance accounts for 27% of global life and non-life premiums. This global contribution surpasses 40% in some countries, such as Turkey (42%) and the United States (41%). Source: Atlas Magazine
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Bilal Jarjour
October 28, 2024
The reinsurance market is constructed to handle events like Helene & Milton, Aon’s Andersen
The reinsurance market is constructed to handle major events like hurricane’s Helene and Milton, according to Eric Andersen, President of global insurance and reinsurance brokerage, Aon. Source: Reinsurance News
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