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May 30, 2025
Oman: 2.1 billion Riyals is the added value to the economy from financial and insurance activities
The added value to the Omani economy from financial and insurance activities increased to 2.128 billion Omani Riyals by the end of 2024, compared to 2.090 billion at the end of 2023, achieving a growth rate of 1.8 percent. Source: عُمان
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Bilal Jarjour
May 30, 2025
Egypt: Al Zoheiry: the insurance gap has reached $2.8bn
Mr. Alaa Al Zoheiry, Chairman of the Insurance Federation of Egypt, indicated during the Sharm El Sheikh RDV that specialists from abroad representing global reinsurance companies were invited to discuss the insurance gap and how to end it. He noted that the insurance gap in Egypt has reached $2.8 billion. Source: الوطن
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Bilal Jarjour
May 30, 2025
Saudi Arabia: expected wave of mergers in the Saudi insurance sector
Expert Adel Al-Essa stated that the insurance sector in Saudi Arabia has witnessed a wave of successful mergers. However, the number of mergers has decreased in the past period. With some companies likely to incur losses starting in year 2024, a new wave of mergers is expected to emerge very soon. Source: Al Morakeb Group
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Bilal Jarjour
May 30, 2025
Turkey: Life insurers’ technical profits almost double in 1Q2025
The total technical profits in the life insurance branch in Türkiye increased by 91% in the first three months of this year to over TRY6.4bn ($164m), compared to the corresponding quarter last year. Source: Middle East Insurance Review
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Bilal Jarjour
May 28, 2025
Middle East: insurers strive for balance between fossil fuels and renewable clean energy
The energy sector in the Middle East is balancing historic dominance in fossil fuels with the shift to renewable clean energy, said the global head of downstream broking, Natural Resources, at WTW, Mr Andrew Brunero, in a report. Source: Middle East Insurance Review
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Bilal Jarjour
May 28, 2025
Morocco: insurance market shows sustained growth in 1Q2025 driven by life and motor branches
The Moroccan insurance market posted a 5.5% increase in revenue to MAD18.2bn ($1.98m) in the first quarter of 2025, according to the Insurance and Social Security Supervisory Authority (ACAPS). Source: Middle East Insurance Review
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Bilal Jarjour
May 28, 2025
Iraq: status of insurance companies
In Iraq, and based on the provisions of article (18) of the “Insurance Regulation Law” no 10 of year 2005, and given that they have met the legal requirements, it has been decided to renew the licenses of listed companies to practice general insurance in all branches. Source: Al Morakeb Group
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Bilal Jarjour
May 28, 2025
European reinsurers still on track for 2025 targets
European reinsurers are still on track to achieve their ambitious 2025 targets, with 1Q25 earnings resilient despite significant losses from the LA wildfires, Fitch Ratings says in a new report. Source: FitchRatings
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Bilal Jarjour
May 27, 2025
Global Insurance Report 2025: The pursuit of growth by McKinsey & Company
Finding profitable growth is an imperative for the world’s personal and commercial property and casualty insurers, while life carriers must adjust to changing consumer needs. Source: McKinsey & Company
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Bilal Jarjour
May 27, 2025
Egypt: Fitch Solutions: Egyptian life insurance premiums expected to reach EGP 84.1 billion by 2029
The Cabinet’s Information and Decision Support Center reviewed a Fitch Solutions report on microinsurance activity in the Egyptian market and the market’s life insurance targets. Source: أموال الغد
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