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January 27, 2025
Turkiye: Market growth registers 72.5% in 2024
Life and non-life insurance business in Turkiye registered notable growth rates in the past year, while participation insurance continues to record impressive growth rates. Source :Middle East Insurance Company
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Bilal Jarjour
January 27, 2025
2024 is the third most expensive year for the insurance market.
According to the German reinsurer Munich Re, the economic losses caused by natural disasters that occurred in 2024 amounted to $ 320 billion compared to $ 268 billion in 2023. The cost of insured losses rose from $106 billion in 2023 to $140 billion a year later, making 2024 the third most expensive year for…
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Bilal Jarjour
January 25, 2025
Lebanon: insurance premiums will rise and the “conflict” is raging with hospitals
The conflict is raging between insurance companies and hospitals over the 15% that the Syndicate of Hospitals wants to increase on insurance companies’ bills starting from February 1, as announced in a prior statement. Source: IMLebanon
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Bilal Jarjour
January 25, 2025
Egypt: The Financial Supervisory Authority amends the dates of the fiscal year for insurance funds and companies to comply with the unified law
The Board of Directors of the Financial Regulatory Authority (FRA), headed by Dr. Mohamed Fareed, issued Resolutions No. 256 and 273 of 2024, to amend the dates of the beginning and end of the fiscal year for private insurance funds and insurance and reinsurance companies. This decision comes in the context of completing the rules…
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Bilal Jarjour
January 25, 2025
Saudi Arabia: Insurer uses personalized care and advanced tech for customer service
Saudi Arabia insurer Wataniya Insurance is delivering exceptional car insurance solutions to its customers through a customer-first approach. Source :Middle East Insurance Review
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Bilal Jarjour
January 25, 2025
Egypt: Financial Supervision Authority raises maximum insurance coverage for microinsurance to EGP 250k
The Financial Regulatory Authority (FRA) has announced a new decision to raise the maximum insurance coverage for microinsurance activity by 25% to reach EGP 250k. This decision is based on Article (37) of the Unified Insurance Law. Source :المال
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Bilal Jarjour
January 23, 2025
Iraq: The Iraqi government requires “health insurance” to grant entry visas to the country
The Iraqi Council of Ministers decided to require a health insurance document to grant entry visas to the country Source: Al Morakeb
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Ahmad Zein
January 23, 2025
Morocco: Regulators explore compulsory homeowner’s insurance
The Supervisory Authority of Insurance and Social Welfare has commissioned ARM Consultants to carry out a study on making homeowner’s insurance compulsory in Morocco. Source: Middle East Insurance Review
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Ahmad Zein
January 23, 2025
Launching the “Insur Grow” program to develop insurance products in the Egyptian market
The Egyptian Insurance Federation revealed the launch of “InsurGrow” program to support leading insurance companies in Egypt and to develop their products, establish new distribution channels, acquire more customers, build strategic partnerships, and improve the operational environment. Source: اموال الغد
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Ahmad Zein
January 23, 2025
Kuwait: Kuwait’s Insurance Regulatory Authority issues two new circulars
The Insurance Regulatory Unit issued two new circulars, Circular No. (2) of 2025, regarding the requirement of written consent before repairing the damaged vehicle, and Circular No. (3) of 2025, regarding the obligation to pay compensation in work injury and occupational diseases insurance policies, in accordance with Law No. (125) of 2019, to regulate insurance…
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