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November 27, 2023
Kuwait: Ins companies to provide the IRU with statistics on “life and money sources”
The Insurance Regulatory Unit requested those subject to the rules of combating money laundering and terrorist financing in the field of insurance to provide quarterly statistics for life insurance activities and funds operations, as well as statistics for insurance agents and brokers. Source: Alraimedia
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arabre
November 27, 2023
Property Catastrophe Reinsurance Market Dynamics to Slow in 2024
Reinsurance rate increases for property catastrophe business are likely to slow to below 10% on average when contracts are renewed in January 2024, Fitch Ratings says. Source: FitchRatings
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arabre
November 27, 2023
Governor of SAMA congratulates the Insurance Authority
Governor of the Saudi Central Bank (SAMA), H E Ayman Alsayari congratulated the Insurance Authority on the start of its work. Source: SAMA
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arabre
November 27, 2023
KSA: Insurance Authority officially begins work
The Insurance Authority in Saudi Arabia officially begun its work after the entry into force of its regulation issued by the Council of Ministers resolution no 85 dated 15 August 2023. The Authority will assume the task of regulating the insurance sector in the Kingdom. Source: Alarabiya
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arabre
November 14, 2023
Turkiye: Insurers expect sharp hikes in premiums in 2024
Much higher increases are expected in insurance premiums in the new year, even as premiums are already rising sharply because of high inflation. Source: Middle East Insurance Review
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arabre
November 14, 2023
KSA: Merger of “Alinma Tokyo Marine” & “Arabian Shield Insurance”
In its extraordinary General Assembly meeting held on October 24, 2023, the shareholders of “Alinma Tokyo Marine” approved the offer submitted by the “Arabian Shield Insurance Company” to merge “Alinma Tokyo Marine” in the “Arabian Shield Company”. Source: Alarabiya
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arabre
November 14, 2023
KSA: Amended comprehensive motor insurance rules take effect
The Saudi Central Bank (SAMA) announces the issuance of the Amended Comprehensive Motor Insurance Rules as part of the ongoing effort to regulate the insurance sector and protect the rights of beneficiaries. Source: SAMA
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arabre
November 14, 2023
Egypt: FRA issues the August 2023 report
In Egypt, the Financial Regulatory Authority issued its periodic report on the monthly performance of non-banking financial activities for the month of August 2023. (Insurance activity on page 6). Source: Financial Regulatory Authority
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arabre
September 19, 2023
The Gulf insurance sector is ready for mergers and acquisitions
The Gulf Cooperation Council countries record the lowest insurance penetration rates, ranging between 0.9% in Qatar and 2.9% in the United Arab Emirates. Source: Al Morakeb Group
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arabre
August 21, 2023
Insurance companies achieve 35.7 billion pounds as premiums, with a growth rate of 28.9%
Insurance companies operating in the Egyptian market achieved a total premiums amounting to EGP 35.77bn during the first half of year 2023, compared to EGP 27.75bn during the same period of year 2022, with a growth rate of 28.9%, according to the monthly report issued by the Financial Regulatory Authority. Source: Amwal Al Ghad
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