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March 16, 2024
Reinsurance renewals 2024 – what happened at 1/1 and what to expect in April
Tony Gallagher CEO, Asia Pacific region for Guy Carpenter talks about the 1/1 renewals and what to expect at the April renewals, emerging risk in 2024 and which business lines have the most scope in the year ahead. Source: Asia Insurance Review
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Ahmad Zein
March 16, 2024
Turkiye: All eyes on 1 May when traffic premium rates will change
The Insurance and Private Pension Regulation and Supervision Agency (SEDDK) will hike premiums for compulsory motor third-party liability insurance (also called traffic insurance) based on the damage cost index, starting in May 2024. Source: Middle East Insurance Review
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Ahmad Zein
March 16, 2024
Egypt: IFE reviews the insurance sector role in managing supply chain risks
In its weekly bulletin issued on 16/3/2024, the Insurance Federation of Egypt reviewed the role of the insurance sector in managing supply chain risks. Source: أموال الغد
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Ahmad Zein
March 16, 2024
Saudi market: The insurance sector stock index jumps more than 8% and tops the list within a week
According to Maaal e-Newspaper, the insurance sector topped the list in the Saudi financial market “Tadawul” in the weekly trading ending on March 14, 2024. Source: مال
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Ahmad Zein
March 15, 2024
SECP working on digitalization in insurance industry
The Securities and Exchange Commission of Pakistan (SECP) has been holding separate meetings with life and non-life insurance companies to seek their input on the digitalization of the insurance sector in Pakistan. Source: Asia Insurance Review
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Ahmad Zein
March 15, 2024
Insurers exiting high-risk areas as climate losses rise 360%: Bloomberg
Bloomberg Intelligence (BI) has said that a 360% rise in insured losses in the past three decades from the increased frequency and intensity of natural disasters is causing insurers to “hike premiums and exit high-risk areas,”. Source: Reinsurance Group
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Ahmad Zein
March 15, 2024
Iraq: Insurance Bureau approves hidden defects insurance policy
Within a series of procedures followed by the Insurance Bureau to promote and develop the insurance reality in Iraq. The Insurance Bureau, after holding meetings chaired by Ms. Esraa Saleh Dawood, President of the Insurance Bureau, with a number of public and private insurance companies and in the presence of the directors of the competent…
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Ahmad Zein
March 15, 2024
Lebanon: Imaginary Numbers. Insurance policy prices have doubled
Insurance companies in Lebanon have raised the value of war risk insurance policies for commercial enterprises to more than four times the previous price. Insurance companies operating in Lebanon justified this by saying that international reinsurers see in Lebanon additional risks that require this step, to the extent of refraining from selling policies as a…
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Ahmad Zein
March 14, 2024
UAE: 5% expected growth in insurance premiums written in 2024
Krishna Dhanak, Managing Director of Alpen Capital for Banking and Investment Consulting, expects the value of written insurance premiums in the UAE to grow by 5 percent on an annual basis by the end of 2024. The value of written insurance premiums in the UAE is expected to reach 54.4 billion dirhams, equivalent to $14.8…
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Ahmad Zein
March 14, 2024
Oman: Regulator gives nod to digital platforms of 4 insurance entities
The Capital Market Authority (CMA) has approved four insurance entities including insurance companies and brokerages to provide their integrated insurance services via online platforms. Source: Middle East Insurance Review
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