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February 6, 2024
Sigma: World insurance market developments in 5 charts
Global economic growth has been stronger than anticipated so far this year, but a slowdown in the second half remains on the cards. Source: Swiss Re
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Bilal Jarjour
February 6, 2024
Saudi Arabia: IA ins market report (Q3 of year 2023)
The Insurance Authority released its first report on the performance of the insurance market in Saudi Arabia for the third quarter of year 2023. Full report click here. Source: Insurance Authority
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Bilal Jarjour
February 2, 2024
Egypt: ins premium portfolio increased by 29.6%
Insurance companies operating in the Egyptian market achieved premiums amounting to 67.407 billion EGP during the first 11 months of year 2023, compared to 51.992 billion EGP during the same period of year 2022, representing a growth rate of 29.6%Top of Form Source: Amwal Al Ghad
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Bilal Jarjour
February 2, 2024
Egypt: FRA prohibits ins brokers from using their personal accounts for premium collection
The Financial Regulatory Authority in Egypt has granted insurance brokerage firms, operating on technology-driven business models with electronic settlement systems with insurance companies, a three-month grace period to align their operations. During this period, these companies are required to collect insurance premiums from clients electronically or through any other means, with the condition that personal…
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Bilal Jarjour
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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