November 14, 2024
Sharm El Sheikh Rendezvous discusses ways to innovate and develop new insurance products
The second session discussed the sixth Sharm El Sheikh Rendezvous Insurance and Reinsurance Forum on the innovation and development of insurance products in a session entitled. “Developing an innovative conception of ways to distribute and develop new insurance products”. Source: اموال الغد
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Bilal Jarjour
November 12, 2024
Composite rate decreases in India, Middle East, and Africa
The composite insurance rate in the third quarter of 2024 decreased by 2% in the IMEA region, where rates for large and complex organizations are often driven or influenced by the reinsurance market, according to the “Global Insurance Market Index”. Source: Middle East Insurance Review
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Bilal Jarjour
November 12, 2024
Morocco: Insurance industry posts profits of over US$312m in 1H2024
The Moroccan insurance sector has generated a net profit of MAD3.1bn ($312.5m) in the first half of 2024, 3% higher compared to the corresponding half in 2023, according to data from the Insurance and Social Welfare Supervisory Authority (ACAPS). This performance was due to improved technical results. Source: Middle East Insurance Review
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Bilal Jarjour
November 12, 2024
Egypt: The Financial Supervisory Authority and the Egyptian Federation plan to launch the index-based insurance product in 2025
Alaa El-Zohairy, Chairman of the Egyptian Insurance Federation, said that cooperation is underway with the Financial Supervisory Authority to launch an index-based insurance product. Source: اموال الغد
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Bilal Jarjour
November 12, 2024
Natural disasters are the main challenges of the African repatriation market 2025
In 2025, reinsurers focused on working in Africa will seek to meet the challenge of an increasingly evolving landscape of natural disaster risks, even as inflation continues to rise and economic growth weighs on the continent. Source: المال
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Bilal Jarjour
November 11, 2024
AI adoption in insurance grows amid rising extreme weather risks
As losses from extreme weather increase, insurers are rapidly adopting AI risk assessment models, with one in four now using AI for convective storms and 18% for wildfires, according to a recent survey by Zesty AI. Source: Reinsurance News
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Bilal Jarjour
November 11, 2024
Egypt: Financial Regulatory Authority approves EGP 17.8 billion new investments for private insurance funds
The Financial Regulatory Authority (FRA) approved new investments for private insurance funds worth EGP 17.8 bn during the first 8 months of 2024, compared to EGP 15.7 bn during the same period in 2023, according to the monthly report issued by the authority. Source: اموال الغد
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Bilal Jarjour
November 11, 2024
Bahrain: Insurance companies sold 2.9 million insurance policies in six months
Recent official data for the insurance market for the first half of 2024 showed a significant increase in total insurance premiums and claims compared to the same period last year, as insurance companies sold about 2.9 million insurance policies in six months, an increase of 256,000 policies. Source: Al Morakeb Group
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Bilal Jarjour
November 11, 2024
Egypt: Property insurance premiums grew in the first 8 months of the year to EGP 34.2 billion
Property insurance premiums rose in the first eight months of the year to EGP 34.2 bn compared to EGP 23.9 bn for the same period last year, according to a report by the Financial Regulatory Authority for the period from January to August this year. Source: المال
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Bilal Jarjour
November 8, 2024
Fitch Ratings: Investor Returns, Climate-Risk Mitigation Drive Cat Bond Issuance
The record issuance of insurance-linked securities (ILS) is expected to continue as (re)insurers tap the capital markets to utilize catastrophe (cat) bonds to manage risks amid a firm reinsurance market. Source: Fitch Ratings
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