August 29, 2024
Tunisia: Direct insurers’ combined premium income and profits show steady growth in 2023
Twenty direct insurers in Tunisia achieved a combined turnover in 2023 of TND2,803m ($923m), 6.9% higher compared to TND2,621m in 2022, according to an analysis by Tera Finances. Source: Middle East Insurance Review
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Bilal Jarjour
August 28, 2024
Algeria: Proposals raised to improve takaful legislation
While takaful has gained significant acceptance among Algerians, the sector still faces some hurdles that hinder its growth, including regulatory and technological obstacles and the lack of awareness campaigns, according to two academics. Source: Middle East Insurance Review
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Bilal Jarjour
August 28, 2024
Saudi Arabia: Companies’ income rises to 897 million riyals… IA publishes sector results for Q1
The Insurance Authority published, through its account on the “X” platform, the results of the insurance sector for the first quarter of year 2024, indicating an increase in the net income of insurance companies to reach 897 million riyals. Source: الوئام
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Bilal Jarjour
August 28, 2024
Iraq: Issuance of the internal by-laws of the Iraqi Association of Insurers and Reinsurers
The Iraqi Gazette no 4789 issued on 26 August 2024, the internal by-laws of the Iraqi Association of Insurers and Reinsurers no 1 of year 2024. Source: Al Morakeb Group
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Bilal Jarjour
August 28, 2024
Gulf: Insurance companies make profits despite heavy rains
Heavy rains have damaged vehicles, homes and businesses, leading to a huge increase in insurance claims. Source: خليج تايمز
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Bilal Jarjour
August 27, 2024
Jordan: Discussing preparations for the implementation of the requirements of the unified office system for compulsory motor insurance
Following the issuance of a regulation of the Unified Office for Compulsory Motor Insurance No. 51 of 2024, which was published in the Official Gazette issued on 15-8-2024, the Jordan Federation of Insurance Companies took the initiative to form a joint committee from the sector and the concerned executive departments in the Federation to prepare…
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Bilal Jarjour
August 27, 2024
Proposal raised aimed at narrowing quake protection gap
Turkey: Compulsory earthquake insurance should be offered automatically to all homeowners in Turkiye with a sufficient level of coverage, a senior insurance executive has suggested. Source: Middle East Insurance Review
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Bilal Jarjour
August 27, 2024
Egypt: The Head of Financial Supervision ” the Authority ” continues to support the policies and procedures of digitizing the insurance sector and increasing its customer base
The Chairman of the Board of Directors of the Financial Regulatory Authority (FRA) met with the leaders of the insurance sector, during the meeting organized by the Egyptian Insurance Federation headed by Alaa Al-Zuhairy, and in the presence of Dr. Islam Azzam, Vice Chairman of the Authority and a number of the Authority’s leaders. Source:…
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Bilal Jarjour
August 27, 2024
Reinsurance market will continue to thrive with dedicated capital poised to increase: AM Best
Total dedicated reinsurance capital went up by 7% in 2023 to $568 billion, and an even larger increase is projected for 2024 of up to $625 billion, according to a recent report by credit rating agency, AM Best Source: Reinsurance News
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Bilal Jarjour
August 23, 2024
Monkeypox virus not covered by insurance
Mohamed Mukhtar, Chairman of the Board of Directors of Egypt Health Care Company, revealed that the monkeypox epidemic is not covered by insurance, explaining that medical documents do not cover epidemics within their basic conditions and coverage, but can be added in an appendix to them with an additional premium. Source Almorakebgroup
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