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April 30, 2024
UAE: insurance sector in DIFC posts record-high premiums in 2023
Dubai International Financial Centre (DIFC) has consolidated its position as the principal hub for the (re)insurance industry, with the highest gross written premiums (GWP) recorded in its 20-year history of $2.6bn in 2023, increasing by 23% from $2.1bn in 2022. Source: Middle East Insurance Review
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Bilal Jarjour
April 30, 2024
Egypt: insurance companies’ premium portfolio record 8.38 billion pounds during January 2024
Insurance companies operating in the Egyptian market achieved a premium portfolio amounting to 8.383 billion pounds during January 2024, compared to 6.503 billion pounds during January 2023, being a growth rate of 28.9%. Source: Amwal Al Ghad
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Bilal Jarjour
April 30, 2024
Egypt: insurance companies pay claims amounting to 3.6 billion pounds within a month
Insurance companies paid a total of 3.652 billion pounds as claims during the month of January, compared to 2.618 billion pounds during the same month of the previous year, with a growth rate of 39.5%. Source: Amwal Al Ghad
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Bilal Jarjour
April 30, 2024
UAE insurance industry adapts to intense weather conditions – AM Best
Credit rating company analyzed events’ impacts on various insurance sectors. Source: Insurance Business
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Bilal Jarjour
April 25, 2024
Best’s special report: heightened risk landscape creates new challenges for reserve management
Moving past the COVID-19 era economic fallout has given rise to indications of worsening reserve risk as insurers report financial results for fourth quarter and full-year 2023, according to a new AM Best report. Source: AMBest
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Bilal Jarjour
April 25, 2024
Saudi Arabia: Insurance companies succeeded in eliminating their accumulated losses by 42.8% during year 2023
Decreasing to 1,194.7 million riyals, and 4 companies converted their accumulated losses into retained profits… The year 2023 is considered a year of positive transformation for insurance companies listed on the financial market in the Kingdom of Saudi Arabia, as all companies achieved good operational performance and strong business results. Source: مال
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Bilal Jarjour
April 25, 2024
Geopolitical risks are challenges facing reinsurance in local markets
Insurance companies operating in the market during the recent period are seeking to strengthen specialized departments to confront geopolitical risks internally and externally, as they are major challenges facing reinsurance in local markets. Source: عالم المال
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Bilal Jarjour
April 25, 2024
2024 Dubai World Insurance Congress (DWIC)
Arab Reinsurance Company (Lebanon) is pleased to participate in the Dubai World Insurance Congress 2024 which will be held in Dubai on 29 and 30 April 2024. Source: ArabRe News
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Bilal Jarjour
April 24, 2024
The Arab Monetary Fund organizes a (remote) course on “Islamic (Takaful) Insurance”
Although the Takaful sector still represents the smallest percentage of all islamic financial industry sectors at a rate of no more than 2%, the size of the global Takaful market will exceed US$30 billion in 2023. Source: Arab Monetary Fund
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Bilal Jarjour
April 24, 2024
For the first time in Egypt… approval to establish foreign insurance companies
The Parliament of Egypt approved, for the first time in the country’s history, the establishment of foreign insurance companies. This came during the plenary session discussing the draft unified insurance law submitted by the government. Source: RT
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