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January 8, 2025
Egypt: Commercial insurance premiums achieve 24% growth in 10 months of last year
The commercial insurance sector in Egypt achieved a 24% growth in the value of premiums collected during the period from January to October 2024, reaching 67.45 billion EGP, compared to 54.4 billion EGP in the same period of 2023. Source:المال
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Bilal Jarjour
January 8, 2025
Global property catastrophe ROL index down 6.6% at Jan 1 reinsurance renewals: Guy Carpenter
Property Catastrophe Rate (ROL) index has fallen 6.6% at the January 1st, 2025, reinsurance renewals, which reflects the reported rate decreases seen across global property catastrophe treaties. Source: Reinsurance News
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Bilal Jarjour
January 7, 2025
UAE: Market reaches almost $14bn in first three quarters of 2024
The UAE insurance sector maintained its growth trajectory in the first three quarters of 2024 as well. According to the Quarterly Economic Review issued by Central Bank of UAE (CBUAE) in December 2024, gross written premiums (GWP) for the insurance sector grew by 20.9%. Source: Middle East Insurance Review
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Bilal Jarjour
January 7, 2025
Jordan: Central Bank rejects motor premium increase
The Central Bank of Jordan has rejected the demand to raise the motor third party liability rates. The country’s insurance industry had submitted a proposal in this regard to Central Bank in December 2024. Source: على مدار الساعة
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Bilal Jarjour
January 7, 2025
Egypt: Financial Regulatory Authority amend rules for companies dealing with reinsurers
The Financial Regulatory Authority is in the process of making amendments to the controls of insurance companies and cooperative insurance societies dealing with reinsurers in preparation for their issuance during the next period. Source:اموال الغد
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Bilal Jarjour
January 7, 2025
Global premiums decline in 2024 due to increased competitiveness
Global insurance premiums fell 0.9% in 2024 as the market became more competitive after years of rising prices, according to Howden Insurance Group. The global insurance group has raised its prices in recent years due to losses caused by wars and natural disasters, as well as high price pressures. Source: Al Morakeb
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Bilal Jarjour
January 6, 2025
UAE: All workers covered by mandatory health insurance starting 2025
In 2025, mandatory health insurance will be extended to cover all workers in the UAE at an affordable rate and reasonable benefits. Source: Khaleej Times
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Bilal Jarjour
January 6, 2025
Algeria: Insurance market increases by 5% in 3Q2024
The insurance sector in Algeria achieves a high turnover in the first 9 months of the preceding year, with international acceptances and takaful showing huge growth. Source: Middle East Insurance Review
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Bilal Jarjour
January 6, 2025
Egypt: Egypt’s insurance sector achieves EGP 8.1 billion in premiums in October 2024
The Financial Regulatory Authority (FRA) revealed that the insurance sector in Egypt achieved remarkable growth during October 2024, with the value of premiums collected reaching EGP 8.1 billion, an increase of 26.6% compared to EGP 6.4 billion in October 2023. Source:المال
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Bilal Jarjour
January 6, 2025
Losses of about $100 billion a year from natural disasters in the world
Losses covered by insurers due to natural disasters exceeded $100 billion for the fifth consecutive year in 2024. As in 2023, total losses this year increased again due to those caused by severe storms. Source: Al Morakeb
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