April 13, 2024
Egypt: Fire insurance is a basic requirement set by the “Construction law”
In Egypt, the “Construction law” specified a number of requirements and guarantees to insure buildings against fire and accidents, and to protect real estate against risks. Source: اليوم السابع
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Bilal Jarjour
April 9, 2024
UAE ranked first in Fitch Composite Country Risk Index in 2023
The UAE ranked first in the Arab world on the Fitch Composite Risk Index in 2023, according to the Arab Investment and Export Credit Guarantee Corporation (Daman). Source Al Joumhouriah
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Bilal Jarjour
April 9, 2024
Algeria -Insurance: Prospects seen as upbeat for takaful business
Takaful, an emerging insurance branch gaining ground in Algeria, is expected to increase its share of the insurance market thanks to growing demand boosted by the benefits introduced by the 2024 finance law. Source: Middle East Insurance Review
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Bilal Jarjour
April 9, 2024
Insurers’ adoption of inflation accounting expected to be smooth
The insurance market in Turkiye generated a total premium income of TRY483bn ($15.1bn) in 2023, an increase of 105% compared to 2022, Mr Ugur Gulen, president of the Insurance Association of Turkiye (TSB), indicated. Source: Middle East Insurance Review
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Bilal Jarjour
April 9, 2024
Listed insurers post higher combined insurance revenue and pre-tax profits but credit risk looms
The combined insurance revenue of listed insurance companies in the UAE saw a 20% surge to AED30bn ($10.9bn) in 2023, compared to AED25bn in 2022, according to an analysis by Badri Management Consulting of the financial statements of the insurers which number 25. Source: Middle East Insurance Review
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Bilal Jarjour
April 8, 2024
Kuwait: 34% drop in annual “insurance” sector profits to 71 million dinars
The total profits of insurance companies listed on the Kuwait Stock Exchange declined during 2023 by 36.1 million dinars (33.6%), to reach 71.1 million dinars, compared to 107.2 million dinars during 2022. Source: السياسة
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Bilal Jarjour
April 8, 2024
Data-led Underwriting: Revolutionizing Life Underwriting Through Data & Technology
The Webinar explores the transformative intersection of technology and insurance, and discover how automation not only can boost efficiency and profitability but also reshape customer experiences. Source: Asia Insurance Review
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Bilal Jarjour
April 8, 2024
Turkiye: Insurance association head presents industry report card and wishlist
The insurance market in Turkiye generated a total premium income of TRY483bn ($15.1bn) in 2023, an increase of 105% compared to 2022, Mr Ugur Gulen, president of the Insurance Association of Turkiye (TSB), indicated. Source: Middle East Insurance Review
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Bilal Jarjour
April 8, 2024
Saudi Arabia: Combined profit of listed insurance sector jumps multifold to nearly US$900m in 2023
Listed insurance companies in the Saudi market saw stellar growth in 2023, as their combined profits soared to SAR3,353m ($894m), compared to profits of less than SAR320m in 2022. Source: Middle East Insurance Review
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Bilal Jarjour
April 4, 2024
UAE: Insurance market grows at nearly 13% to US$ 14.5 bn in 2023
The UAE insurance sector reported robust growth of 12.7% in gross written premiums to AED53.2bn ($14.5bn) in 2023, compared to 2022, according to data from the Central Bank (CBUAE). Source: Middle East Insurance Review
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