August 27, 2024
Reinsurance market will continue to thrive with dedicated capital poised to increase: AM Best
Total dedicated reinsurance capital went up by 7% in 2023 to $568 billion, and an even larger increase is projected for 2024 of up to $625 billion, according to a recent report by credit rating agency, AM Best Source: Reinsurance News
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Bilal Jarjour
August 23, 2024
Monkeypox virus not covered by insurance
Mohamed Mukhtar, Chairman of the Board of Directors of Egypt Health Care Company, revealed that the monkeypox epidemic is not covered by insurance, explaining that medical documents do not cover epidemics within their basic conditions and coverage, but can be added in an appendix to them with an additional premium. Source Almorakebgroup
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Bilal Jarjour
August 23, 2024
UAE: Insurers expected to hike premiums in 2H2024 in some insurance branches
Price hikes are expected for some insurance products in the UAE on the back of high demand in the second half of 2024 Source: Reinsurance news
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Bilal Jarjour
August 23, 2024
GCC: Takaful market expected to see another profitable year in 2024
2024 is set to be another profitable year for the Islamic insurance sector in the GCC. Net profits in 2023 had already reached a record of almost $1bn, mainly due to rate adjustments in previously underperforming lines and higher investment returns, says S&P Global Ratings (S&P). Source: Reinsurance news
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Bilal Jarjour
August 23, 2024
Marsh offers port closure insurance with $50 million in compensation
Marsh, one of the world’s leading insurance brokerage and risk advisory firms, and a subsidiary of Marsh McLean, has announced the launch of its first port closure insurance service, with $50 million in compensation, covering shipping ports worldwide. Source: Almorkab group
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Bilal Jarjour
August 21, 2024
GCC: Impact of regional weather-related events in 2Q2024 contained by reinsurance for most insurers
Listed insurers in the GCC region have registered an impressive growth of 8.0% in after-tax profits. Source: Middle East Insurance Review
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Bilal Jarjour
August 21, 2024
Will GCC Islamic insurers’ strong earnings streak continue?
After strong topline growth over 2022-2023, Islamic and Takaful insurers in the Gulf Cooperation Council (GCC) region continue to benefit from favorable growth prospects, mainly due to higher insurance demand in Saudi Arabia, which is the largest Islamic insurance market in the region. Source: S&P Global
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Bilal Jarjour
August 21, 2024
2024 Intangible versus Tangible Risks Comparison Report EMEA Edition (Aon)
The 2024 Intangible versus Tangible Risks Comparison Report is based on insights from 2,462 small, medium and large organisations across a broad range of industries throughout the world. Source: Aon
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Bilal Jarjour
August 21, 2024
Reinsurers post strong profits
A strategic market reset by global reinsurers in 2023 has led to strong technical profits and a shift in industry dynamics, according to a new report by AMBest. Source: Al Morakeb Group
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Bilal Jarjour
August 19, 2024
UAE:26 listed insurers report combined increase in 1H pre-tax profit despite April storm damage
The combined profit before tax of 26 listed insurance companies in the UAE grew by 7% to AED1,044m ($284m) in 1H2024 from AED975m in 1H2023, according to Badri Management Consultancy, an international company that specializes in actuarial services and provides financial services. Source Middle East Insurance Review
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