Maarad Street, Beirut Central District, Lebanon
arabre@arabre.com
+961 1 989500
January 30, 2025
Türkiye: Total insurance premiums grew by 72.5% from 2023 to 2024
According to preliminary figures the Insurance Association of Turkey (TSB) has published of total gross written insurance premiums collected, there has been a 72.5% increase, from TRY468tn ($13.6bn) in December 2023 to TRY838.5tn in December 2024. Source: Middle East Insurance Review
Read morePOSTED BY
Bilal Jarjour
January 30, 2025
Saudi Arabia: The Insurance Sector Drives Economic Diversification in Line with Vision 2030
The insurance sector in Saudi Arabia is a key pillar of the Kingdom’s financial industry and has evolved to become one of the largest insurance markets in the Gulf Cooperation Council (GCC) countries. Driven by Vision 2030, the sector is experiencing unprecedented growth, supported by regulatory reforms, technological advancements, and economic diversification. Source :الرياض
Read morePOSTED BY
Bilal Jarjour
January 30, 2025
UAE: Majority of insurance claims from April 2024 settled
Insurance companies in the UAE have lost up to $2.5 billion (AED 9.175 billion) due to the 2024 rains. The majority of insurers have settled claims following the record rainfall on April 16. Source: Khaleej times
Read morePOSTED BY
Bilal Jarjour
January 30, 2025
Kuwait: Insurance Unit issues new rating standards for foreign providers
Foreign insurers operating in Kuwait are subject to a new condition that requires a minimum rating standard for their parent companies, according to a new resolution the regulator has issued. Source : Middle East Insurance Review
Read morePOSTED BY
Bilal Jarjour
January 29, 2025
Saudi Arabia: Positive outlook for the insurance sector in the Kingdom. Premiums will record 212 billion riyals by 2030
The insurance sector in the Kingdom is expected to witness remarkable growth in the coming years, with an estimated annual growth rate of 18%. Growth by 2030 compared to 2023 is expected to reach 224%, which will contribute to enhancing the depth of the insurance sector in non-oil output to reach the Vision 2030 target…
Read morePOSTED BY
Bilal Jarjour
January 29, 2025
Kuwait: “Insurance Regulation” Issues 3 Decisions for Licensing and Revocation
The Kuwaiti Insurance Regulatory Unit issued three new decisions regarding individual licensing, revocation of another license, and a decision related to accredited rating agencies. Source :Al Morakeb
Read morePOSTED BY
Bilal Jarjour
January 29, 2025
UAE: Stability in Car Insurance Prices in 2025
The prices of “comprehensive” and “third-party” car insurance policies in the UAE are expected to stabilize in 2025, following an increase of 25% to 35% in 2024. This rise was attributed to the higher costs of reinsurance for companies’ insurance portfolios, according to experts and industry officials. Source :مركز الإتحاد للاخبار
Read morePOSTED BY
Bilal Jarjour
January 29, 2025
Egypt: Insurance Federation “Fraud Causes Annual Losses of Up to 21.6% in the Auto Sector”
The Egyptian Insurance Federation has emphasized the importance of addressing the phenomenon of fraud and deception in auto insurance, which poses a significant challenge to the insurance industry both locally and globally. Source :المال
Read morePOSTED BY
Bilal Jarjour
January 27, 2025
Global Insurance Fraud Detection Market Expected to Grow to $9.13 Billion
The Egyptian Insurance Federation has highlighted that fraud in the insurance industry poses a significant challenge for insurance companies worldwide. Source :اموال الغد
Read morePOSTED BY
Bilal Jarjour
January 27, 2025
Qatar: Executive Regulations of the Social Insurance Law Enhance Transparency and Efficiency
The Emir of the State of Qatar, Sheikh Tamim bin Hamad Al Thani, has approved the issuance of the executive regulations for Social Insurance Law No. 1 of 2022. These regulations represent a significant milestone in organizing and advancing the social insurance system in the country. Source :بوابة التامين
Read morePOSTED BY