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January 21, 2025
Syria: Insurance sector could collapse, Federation warns
The Syrian Insurance Federation (SIF) issued a statement expressing its regret that the bank accounts of insurance companies and SIF have been frozen in pursuant to the instructions of the Central Bank for more than a month without clarifying the reasons. Source: Middle East Insurance Review
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Bilal Jarjour
January 21, 2025
Egypt: Financial Supervision Sets EGP 400 minimum capital for insurance companies
The Board of Directors of the Financial Regulatory Authority (FRA) issued Resolution No. 196 of 2024 regarding determining the minimum capital of companies operating in the insurance sector, in implementation of the provisions of the Unified Insurance Law issued last July. Source:المال
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Bilal Jarjour
January 21, 2025
Reinsurers more willing to cover risks in Middle East
Reinsurers, including Swiss Re have become more willing to provide cover for the Middle East in the industry’s January policy renewal season, removing a clause which allowed them to pull out if the Gaza conflict escalated. Source: Reuters
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Bilal Jarjour
January 21, 2025
MENA: 2025 Outlook stable on growth and reforms despite geopolitics
Moody’s Ratings: The outlook for credit fundamentals for sovereigns in the Middle East and North Africa (MENA) remains stable. Source :Middle Insurance Review
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Bilal Jarjour
January 18, 2025
Egypt: A big boom in the insurance sector in the new year
Dr. Mohamed El-Maghraby, economist and financial expert and president of Public Partners, predicted that the Egyptian insurance market will witness a remarkable boom during the new year 2025. He pointed out that these expectations are built with the entry of technology in the insurance sector and the electronic issuance of insurance policies in various insurance…
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Bilal Jarjour
January 18, 2025
California fires the biggest damage to insurance companies comes from rising building and real estate prices
According to the international rating agency Standard & Poor’s, insurance companies are facing significant losses in areas affected by the Los Angeles fires due to the rise in real estate and building prices, including furniture and furnishings. Preliminary estimates by the aforementioned classification agency showed that the cost ranges between 10 and 15 billion US…
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Bilal Jarjour
January 18, 2025
Cyber Insurance Market to Expand as Risks Evolve
While 2024 brought record-breaking data-breach costs and evolving cyber risk, all signs point to stable rates and ample capacity in 2025. Source: Insurance Journal
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Bilal Jarjour
January 18, 2025
Fitch Ratings: Reinsurer profits to be resilient in 2025 despite lower renewal prices
Global reinsurers’ profitability will remain strong in 2025 despite lower risk-adjusted prices for most business lines when reinsurance contracts were renewed on 1 January. Source: Fitch Ratings
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Bilal Jarjour
January 16, 2025
Oman: Signing a Memorandum of Understanding in the field of insurance and social protection
In Muscat, a Memorandum of Understanding in the field of insurance and social protection was signed between the Social Insurance Organization in the Kingdom of Bahrain and the Social Protection Fund in the Sultanate of Oman. Source: Bahrain News Agency
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Bilal Jarjour
January 16, 2025
Egypt: Partnership between the Financial Regulatory Authority and the Ministry of Justice to exchange practical experiences in the “unified insurance” law
The Financial Regulatory Authority, in partnership with the Ministry of Justice, organized a two-days interactive workshop for judges and advisors of economic courts, focusing mainly on the insurance sector in light of the issuance of the Unified Insurance Law No 155 of year 2024. Source: بوابة الأهرام
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