March 14, 2025
MENA: Benchmarking insurers reveals positive trends despite regional challenges
AM Best’s ratings of (re)insurers in the Middle East and North Africa (MENA) have generally trended positively. This is despite challenging regional geopolitical conditions, says the global credit rating agency. Source: aitoswire
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Bilal Jarjour
March 12, 2025
UAE: 20% expected growth for the UAE insurance sector in 2025
S&P Global Ratings expects the UAE’s insurance sector to maintain a positive growth outlook in 2025, with the potential for growth of 10-20%, after recording a growth of around 20% in 2024. Source: AL Morakeb
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Bilal Jarjour
March 12, 2025
Turkey: Regulator revises compulsory earthquake insurance premium structure
Premiums charged in the Compulsory Earthquake Insurance scheme are to be increased monthly, following new regulations issued by the Insurance and Private Pension Regulation and Supervision Agency. Source: Middle East Insurance Review
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Bilal Jarjour
March 12, 2025
Tunisia: Insurance market grows by nearly 11% in 2024
Net insurance premiums for insurance companies in Tunisia reached TND3.82bn ($1.24bn) in 2024, up from TND3.45bn in the previous year, a 10.8% increase. Source: Middle East Insurance Review
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Bilal Jarjour
March 12, 2025
Egypt: EGP 74 billion in insurance premiums in 2024, a growth of 27.9%. compensation rises 28%
The insurance sector in Egypt achieved strong growth during 2024, as the total premiums collected increased by 27.9% compared to 2023, reflecting the expansion of activity and increased customer confidence in insurance services. Source: المال
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Bilal Jarjour
March 10, 2025
Aviation accidents were high in 2024 and there are no final figures on insurance companies claims.
The International Air Transport Association (IATA) published its 2024 annual report on aviation safety, in which last year saw an accident occur every 880,000 flights, while the average for 2020-2024 was one accident per 810,000 flights. Source: تامين ومصارف
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Bilal Jarjour
March 10, 2025
S&P Global expects strong profits for insurance companies in the Gulf in 2025
Credit rating agency Standard & Poor’s has predicted that 2025 will be another profitable year for GCC insurers. Source: بوابة التأمين الإقتصادية
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Bilal Jarjour
March 10, 2025
Saudi Arabia: Challenges facing the Saudi insurance sector.
Saudi Arabia’s insurance sector continues to grow at the fastest rates among the GCC, but faces three significant challenges, led by the dominance of a few large companies in the market, while smaller entities struggle to withstand fierce competition, according to S&P Global. Source: Al Morakeb
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Bilal Jarjour
March 10, 2025
22% expected increase in cyber insurance premiums during the current year
Insurance companies expect 22% growth in cyber insurance premiums this year to reach $21.6 billion. Source: المال
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Bilal Jarjour
March 7, 2025
Saudi Arabia: Rapidly growing market with increasing concentration at the top
Premium growth in Saudi Arabia in recent years has been substantial, thanks to rapid economic expansion, rate adjustments, and the adoption of new mandatory covers, according to S&P Global Ratings (S&P) credit analyst Emir Mujkic. Source: Middle East Insurance Review
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