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December 19, 2024
Arab Insurance Union discusses “medical” pricing
The General Arab Insurance Federation held the fourteenth virtual seminar under the title “Pricing in Medical Insurance”, in the presence of more than 250 participants from various Arab countries. Source: المال
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Bilal Jarjour
December 18, 2024
Arab Re BOD meeting in Turkey
The Board of Directors of Arab Reinsurance Company held a meeting in Istanbul, Turkey on 12-12-2024, chaired by Sheikh Khaldoun Barakat to discuss its agenda. Source: Arab Re
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Bilal Jarjour
December 18, 2024
Turkiye: Total catastrophic coverage in 2025 estimated to reach at least US$14.7bn
The total catastrophic coverage in the Turkish market is predicted to amount to EUR14-15bn ($14.7-15.8bn) in 2025, compared to EUR12bn for 2024, including proportional agreements, event limits and coverage under Cat XL programs. Source: Middle East Insurance review
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Bilal Jarjour
December 18, 2024
Egypt: Egyptian Insurance Federation forms specialized committee to study corporate governance proposals
Alaa El Zohairy, chairman of the Egyptian Insurance Federation, said the federation has formed a specialized committee to study the Financial Supervisory Authority’s proposals on the governance rules of insurance companies. Source: اموال الغد
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Bilal Jarjour
December 18, 2024
Reinsurers’ pressure rises to increase the prices of natural disaster coverage
Global repatriation companies have pressured local markets to increase prices and conditions for natural risk coverage next year, after incurring $3 billion due to the recent Dubai floods. Source: المال
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Bilal Jarjour
December 16, 2024
Morocco: Insurance industry leverages digitalization to promote access
Morocco is banking on digitalization as a strategic lever to expand access to insurance, the president of the Insurance and Social Security Supervisory Authority (ACAPS). Source: Middle East Insurance Review
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Bilal Jarjour
December 16, 2024
10 Gulf insurance companies achieve profits of $ 1293.8 million in 9 months. The Kingdom accounts for more than half of its profits.
The top 10 GCC insurance companies in terms of profitability recorded net profits during the 9 months of 2024 of $ 1293.8 million compared to $ 991.1 million for the same period, achieving a year-on-year growth of 30.5%, an increase equivalent to about $ 302.6 million. Source: صحيفة المال
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Bilal Jarjour
December 16, 2024
UAE: Analysis of insurance sector’s financial results reveals unexpected outcome
The UAE insurance industry’s profit before tax increased by 8%, reaching AED2.0bn ($545m) in the first nine months of this year, from AED1.8bn in the corresponding period in 2023, points out Badri Management Consultancy which specialises in actuarial services. Source: Middle East Insurance Review
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Bilal Jarjour
December 16, 2024
Algeria: Government to bar use of cash to pay for mandatory insurance premiums
The Algerian government will prohibit cash payments in the insurance, real estate, and automobile sectors in a fight against money laundering, tax evasion, and other black-market activities. Source: Middle East Insurance Review
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Bilal Jarjour
December 13, 2024
Egypt: Insurance companies enter the era of sustainability through carbon market
The Financial Regulatory Authority announced the launch of the first voluntary carbon market in Egypt, opening new horizons for Egyptian insurance companies to play an effective role in combating climate change. Source: المال
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