August 12, 2024
Egypt: FRA approves new investments for private insurance funds touching EGP 26 bln
The Financial Regulatory Authority (FRA) approved new investments for private insurance funds worth EGP 25.9 bn during the first 5 months of 2024, compared to EGP 9.4 bln during the same period in 2023, according to the monthly report issued by the authority. Source: أموال الغد
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Bilal Jarjour
August 12, 2024
Egypt: Insurance companies pay more than EGP 17 billion in compensation to customers
The monthly report issued by the Financial Regulatory Authority revealed an increase in the volume of compensation paid by insurance companies to their customers during the first 5 months of 2024 to EGP 17.048 billion, compared to about EGP 13.383 billion during the corresponding period of 2023, with a growth rate of 27.4%. Source: اموال…
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Bilal Jarjour
August 12, 2024
Poll suggests re/insurers will target growth in existing lines amid capital build-up
As re/insurers accumulate capital and retain earnings following predominantly positive results, 42% of industry respondents in a recent Reinsurance News poll indicate that growth in existing lines is the most likely area for capital deployment. Source Re insurance news
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Bilal Jarjour
August 9, 2024
$60 billion insurance losses in the first half of the 2024 economy
The value of losses of insurance companies caused by natural disasters around the world during the first half of this year amounted to $ 60 billion, up 62 percent from the average losses in the first half of the year during the past ten years. Source: نبض
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Bilal Jarjour
August 9, 2024
Egypt: With a growth rate of 23.8%. Insurance companies achieve EGP 35.5 bln in premiums in 5 months
Insurance companies operating in the Egyptian market achieved a premium portfolio of EGP 35.467 billion during the first 5 months of this year, compared to EGP 28.658 billion during the same period of 2023, with a growth rate of 23.8%. Source اموال الغد
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Bilal Jarjour
August 9, 2024
Bahrain: Consolidation needed in insurance industry to stop price wars
The insurance market in Bahrain needs more mergers or acquisitions between insurance companies, and even between reinsurance companies. Source: Middle East Insurance Review
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Bilal Jarjour
August 9, 2024
Turkey: Participation insurance continues to grow
Participation insurance (akin to takaful), which grew by 93.7% in the first half of the year, increased its market share in Turkiye to 5.5% with a premium volume of TRY21.25bn ($633.6m), according to data compiled by the Insurance Association of Turkiye (TSB). Source: Middle East Insurance Review
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Bilal Jarjour
August 8, 2024
World insurance: strengthening global resilience with a new lease of life (Sigma 3/2024)
Prevailing economic conditions have given insurance business a new lease of life. Economic resilience, reflected in slowing but still robust economic growth, and high interest rates are driving much-improved industry profitability.. Source: Sigma
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Bilal Jarjour
August 8, 2024
Natural catastrophes in 2023 by Sigma
In 2023, natural catastrophes resulted in economic losses of USD 280 billion, of which 38% were covered by insurance, as per Sigma. Source: Sigma
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Bilal Jarjour
August 8, 2024
UAE: Comprehensive motor insurance rates on the rise
Emirati insurers increased their comprehensive motor insurance rates by 20-25% in the first half of 2024. Source: Atlas Magazine
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