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March 14, 2024
Turkey: Insurance industry to adopt inflation accounting wef 1 Jan 2025
The Insurance and Private Pension Regulation and Supervision Agency (SEDDK) has stipulated that insurance, reinsurance and pension are to commence the implementation of inflation accounting on 1 January 2025. Source: Middle East Insurance Review
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Ahmad Zein
March 14, 2024
Insurance industry must be proactive as GenAI reshapes cyber landscape: Lloyd’s
The impact of Generative Artificial Intelligence (GenAI) technology on the cyber landscape is expected to increase the frequency, severity, and diversity of attacks, and as the threats evolve, it’s imperative that the insurance industry takes proactive steps, according to Lloyd’s. Source: Reinsurance News
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Ahmad Zein
March 12, 2024
Algeria Insurance: Untapped potential in Algerian general insurance
Algeria’s insurance market has huge potential and offers players ample growth opportunities. However, the industry must do a lot more to increase insurance awareness and penetration. Source: Middle East Insurance Review
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Ahmad Zein
March 12, 2024
Challenges faced by regional brokers in the Middle East
Gaining a foothold in multiple markets in the Middle East can be tough for a reinsurance broker. Smaller players may also be impacted by significant M&A activity among brokers in the region Source: Middle East Insurance Review
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Ahmad Zein
March 12, 2024
Insurance is not ready for AI
The first main session of GAIF 34 addressed one of the big issues head on: How is the sector leveraging AI to disrupt and reshape the Arab insurance landscape? Source: Middle East Insurance Review
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Ahmad Zein
March 12, 2024
Egypt: Insurance companies pay claims exceeding 35 bn EGP within a year
In Egypt, the monthly report issued by the Financial Regulatory Authority reported an increase in claims paid by insurance companies during 2023 to 35.085 billion EGP, compared to 26.719 billion EGP during year 2022, being a growth of 31.3%. Source: أموال الغد
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Ahmad Zein
March 11, 2024
Hatem Amira: Insurance companies apply the law
The Director General of the Tunisian Federation of Insurance Companies, Hatem Amira, confirmed that there is a great demand for non-compulsory motor insurance operations. Source: الإذاعة الوطنية
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Bilal Jarjour
March 11, 2024
Reinsurers Defend New Business Margins at January 2024 Renewals
Underwriting Margins to Peak in 2024 In contrast to 2023, in this year’s January renewals only loss affected lines of business and regions witnessed significant price increases. Source: Fitch Ratings
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Bilal Jarjour
March 11, 2024
Egypt: Egyptian Insurance Federation Participation in the First Edition of the Financial Supervisory Authority Conference
Insurance awareness is one of the most important axes adopted by the Egyptian Insurance Federation in its various strategies, because of its great return on the insurance industry as a whole and on insurance companies, and the Union is making various efforts in partnership with the Financial Supervisory Authority, in light of achieving insurance coverage…
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Bilal Jarjour
March 11, 2024
Egypt: Insurers expect benefits from liberalisation of the pound
The insurance industry is expecting gains from the Central Bank of Egypt’s (CBE) move on 6 March to liberalize the Egyptian pound and raise major interest rates by 600 basis points. The goal is to combat high inflation and attract foreign investments. Source: Middle East Insurance review
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