June 22, 2024
Arabian Gulf Floods — Event Commentary
Gallagher Re Cat Analytics team addresses the torrential rains and flooding that impacted many Arabian Gulf countries in April. Source: Gallagher Re
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Bilal Jarjour
June 19, 2024
Morocco: Insurance industry’s 1Q2024 growth slowed by life business
Premiums issued by insurance and reinsurance companies in Morocco reached MAD17.24bn ($1.73bn) in the first quarter of 2024, an increase of 1.8% compared to the corresponding quarter of the previous financial year, according to the Insurance and Social Security Supervisory Authority Source: Middle East Insurance Review
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Bilal Jarjour
June 19, 2024
Turkey: Insurance association carries out strategy study for 2025-2030
The Insurance Association of Turkiye (TSB) has started studies on strategies for the industry for the years 2025-2030. Source: Middle Eat Insurance Review
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Bilal Jarjour
June 19, 2024
Floods cause estimated insured losses of as much as US$2.4bn
Total insured losses arising from the 2024 Gulf Floods event are estimated to exceed $1.6bn and could reach as high as $2.4bn for the UAE, of which Motor represents ~10%, according to an analysis by Guy Carpenter, with information available as of 30 May 2024. Source: Middle East Insurance Review
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Bilal Jarjour
June 19, 2024
Insured losses in Germany from Central Europe floods could hit $3.2bn: Moody’s RMS
Estimated insured losses in Germany from the Central Europe Floods will likely fall within the range of €2 billion to €3 billion (US$2.1 billion to US$3.2 billion), Moody’s RMS Event Response has state Source: Re insurance News
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Bilal Jarjour
June 13, 2024
Bahrain: 5% annual growth in the insurance sector
Economist and banker Arif Khalifa said that the insurance sector is growing in Bahrain at an annual rate of 5%, pointing out that the higher the growth of the insurance sector, the greater the indicators of economic recovery. Source: Al Morakeb Group
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Bilal Jarjour
June 13, 2024
Egypt: via telecom companies, the ins sector is taking the path of new marketing channels to fill the market gap
In Egypt, new controls were issued by the Financial Regulatory Authority for the marketing of insurance company products through the branches of telecommunication companies, allowing marketing of approved insurance products. Source: أموال الغد
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Bilal Jarjour
June 13, 2024
Global Insurance Market Insights by Aon
Aon has published its global insurance market insights which highlight insurance market trends across pricing, capacity, underwriting, limits, deductibles and coverages. Source: Aon
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Bilal Jarjour
June 13, 2024
Best’s Market Segment Report: AM Best Revises Outlook for Global Reinsurance Industry to Positive
AM Best has revised its market segment outlook for the global reinsurance segment to positive from stable, citing robust profit margins along with higher attachment points and tighter terms and conditions that followed a period of drastic repricing. Source: AM Best
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Bilal Jarjour
June 10, 2024
In Morocco, ACAPS publishes its strategic plan 2024-2026
The Supervisory Authority of Insurance and Social Welfare (ACAPS) announced its third strategic plan for 2024-2026. Source: ACAPS
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