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December 13, 2024
Saudi Arabia: Insurers must maintain underwriting discipline in 2025
Top-line growth in Saudi Arabia’s insurance sector will moderate to about 10%-15% in 2025, after strong growth since 2022 and a 17% increase in insurance revenue in third-quarter 2024, forecasts S&P Global Ratings (S&P). Source: Middle East Insurance Review
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Bilal Jarjour
December 13, 2024
Saudi Arabia: Al-Tamimi meets with presidents of insurance companies
The CEO of the Insurance Authority, Eng Naji Al-Faisal Al-Tamimi, met with the presidents of insurance and reinsurance companies at the authority’s headquarters, with the aim to tackle the most important challenges and discuss ways to support and develop the sector. Source: MediaTameen
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Bilal Jarjour
December 13, 2024
Climate change accounts for over a third of insured weather losses this century and rising
Cut emissions today to insure tomorrow, warns report as 2024 marks the first year to cross red line of 1.5°C global heating. Source: Insure Our Future
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Bilal Jarjour
December 10, 2024
Morocco’s stature grows in international insurance organizations
The Insurance and Social Security Supervisory Authority (ACAPS) has been re-elected as vice-chair of the executive committee of the International Association of Insurance Supervisors (IAIS), in the person of Mrs. Siham Ramli, director of Communication and International Relations. Source: Middle East Insurance Review
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Bilal Jarjour
December 10, 2024
Kingdom of Saudi Arabia: “Insurance Lab” to promote innovation and develop insurance technology
Based on enabling insurance technology and supporting innovation, the Saudi Insurance Authority has launched a draft regulatory framework for the legislative experimental environment for the “Insurance Lab” project through a survey platform, inviting all interested parties to submit their opinions and views on the project. Source: تأمين ومصارف
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Bilal Jarjour
December 10, 2024
Turkey: New regulation removes 15-day grace period for obtaining traffic insurance
The Insurance Association of Turkiye (TSB) has announced that it has become mandatory for buyers of second-hand vehicles to have compulsory motor third-party liability insurance (traffic insurance) before the vehicle purchase transaction. Source: Middle East Insurance Review
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Bilal Jarjour
December 10, 2024
Egypt: Insurance industry bets on new law to attract new investment in activity
The insurance industry in Egypt has witnessed a major qualitative leap this year through the issuance of the Unified Insurance Law No. 155 of 2024, after 43 years of the entry into force of its previous legislation, Law No. 10 of 1981. Source: اموال الغد
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Bilal Jarjour
December 7, 2024
Saudi Arabia: Discussing the work of the supervisory and supervisory bodies of the insurance sector
On the sidelines of the annual meetings of the International Organization of Insurance Supervisors (IAIS), the Undersecretary of Supervision, Mr. Abdullah Al-Hamid, Vice Chairman of the Executive Committee, met with Ms. Siham Ramli, where they discussed the latest developments in the tasks and work of the supervisory and supervisory bodies of the insurance sector. Source:…
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Bilal Jarjour
December 7, 2024
GCC insurance sector in good shape next year
The insurance sector in the GCC, especially in Saudi Arabia, is witnessing mergers and acquisitions and the concentration of the sector’s business in strong major companies capable of continuing to perform well. Credit rating agencies and mergers and acquisitions are an indicator of an improving credit rating for companies in any sector, so Moody’s Ratings…
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Bilal Jarjour
December 7, 2024
Jordan: Central Bank publishes draft insurance law
Based on the role of the Central Bank in regulating and supervising the insurance sector, and in implementation of the Royal Vision Program for the Economic Modernization of the Hashemite Kingdom of Jordan in the financial services sector, the Central Bank has completed the preparation of the draft insurance law, Source: الدستور
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