February 2, 2024
S&P expects strong revenue growth of 15-20% for UAE-listed insurance companies in 2023
Standard Poor’s (SP) Global Ratings Agency expects robust revenue growth for insurance companies listed in the United Arab Emirates, with insurance premiums forecast to surge by 15 to 20 percent in 2023 compared to 2022. Source: Emirates News Agency
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Bilal Jarjour
February 2, 2024
GCC Insurance Industry (31/1/2024)
UAE-based investment banking advisory firm, Alpen Capital projects the gross written premium (GWP) of the region to grow at a CAGR of 5.3% reaching US$ 44.4 billion by 2028, in its latest GCC Insurance Industry report. Source: Alpen Capital
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Bilal Jarjour
January 30, 2024
Egypt: Increase in ins premium portfolio to EGP 67.4 bn, a growth of 29.6%
Insurance companies operating in the Egyptian market achieved a premium portfolio of EGP 67.407 billion during the first 11 months of year 2023, compared to EGP 51.992 bn during the same period of year 2022, a growth rate of 29.6%. Source: amwalalghad
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Bilal Jarjour
January 30, 2024
Egypt: Regulator grants insurance brokers 3 months to comply with premium payment rules
The Financial Regulatory Authority (FRA) has issued its decision requiring insurance brokerages a three-month grace period to stop collecting premium payments from customers. Source: Middle East Insurance Review
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Bilal Jarjour
January 30, 2024
Number Of Billion-Dollar Disasters In 2023 Highest On Record: Aon Report
Aon published its 2024 Climate and Catastrophe Insight report, which identifies global natural disaster and climate trends to help make better decisions to manage volatility and enhance global resilience. Source: Artemis
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Bilal Jarjour
January 30, 2024
Reinsurers face challenges in 2024 amidst changing market dynamics: Morgan Stanley
According to insights gathered by Morgan Stanley, reinsurers experienced a pullback towards the end of 2023, prompting investors to scrutinise the factors that could drive the industry beyond the highs of the previous year. Source: Reinsurance News
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Bilal Jarjour
January 25, 2024
Qatar delays LNG shipments to Europe amid Red Sea conflict, Bloomberg News says
Qatar, one of the world’s biggest liquefied natural gas exporters, is delaying some shipments to Europe as conflict in the Red Sea forces longer travel times, Bloomberg News reported. Source: Naturalgasworld
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Bilal Jarjour
January 25, 2024
Saudi Arabia: Health insurance branch drives industry growth in first 3 quarters of 2023
Saudi insurance companies saw a 22% increase in gross written premiums, totalling SAR48.96bn ($13.05bn) for the nine months ended 30 September 2023, compared to the corresponding period in 2022. Source: Middle East Insurance
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Bilal Jarjour
January 25, 2024
Geneva Association: Climate Tech for Industrial Decarbonisation: What role for insurers?
A report prepared by the Geneva Association examines the climate tech landscape and identifies potential opportunities for the re/insurance industry in this space. Source: Geneva Association
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Bilal Jarjour
January 25, 2024
Moody’s changes outlook on Egypt to negative, affirms Caa1 ratings
Moody’s Investors Service (Moody’s) has changed the outlook on Government of Egypt to negative from stable and affirmed the Caa1 long-term foreign and local currency issuer ratings. Source: Moody’s
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