January 25, 2025
Egypt: The Financial Supervisory Authority amends the dates of the fiscal year for insurance funds and companies to comply with the unified law
The Board of Directors of the Financial Regulatory Authority (FRA), headed by Dr. Mohamed Fareed, issued Resolutions No. 256 and 273 of 2024, to amend the dates of the beginning and end of the fiscal year for private insurance funds and insurance and reinsurance companies. This decision comes in the context of completing the rules…
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Bilal Jarjour
January 25, 2025
Saudi Arabia: Insurer uses personalized care and advanced tech for customer service
Saudi Arabia insurer Wataniya Insurance is delivering exceptional car insurance solutions to its customers through a customer-first approach. Source :Middle East Insurance Review
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Bilal Jarjour
January 25, 2025
Egypt: Financial Supervision Authority raises maximum insurance coverage for microinsurance to EGP 250k
The Financial Regulatory Authority (FRA) has announced a new decision to raise the maximum insurance coverage for microinsurance activity by 25% to reach EGP 250k. This decision is based on Article (37) of the Unified Insurance Law. Source :المال
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Bilal Jarjour
January 23, 2025
Iraq: The Iraqi government requires “health insurance” to grant entry visas to the country
The Iraqi Council of Ministers decided to require a health insurance document to grant entry visas to the country Source: Al Morakeb
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Ahmad Zein
January 23, 2025
Morocco: Regulators explore compulsory homeowner’s insurance
The Supervisory Authority of Insurance and Social Welfare has commissioned ARM Consultants to carry out a study on making homeowner’s insurance compulsory in Morocco. Source: Middle East Insurance Review
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Ahmad Zein
January 23, 2025
Launching the “Insur Grow” program to develop insurance products in the Egyptian market
The Egyptian Insurance Federation revealed the launch of “InsurGrow” program to support leading insurance companies in Egypt and to develop their products, establish new distribution channels, acquire more customers, build strategic partnerships, and improve the operational environment. Source: اموال الغد
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Ahmad Zein
January 23, 2025
Kuwait: Kuwait’s Insurance Regulatory Authority issues two new circulars
The Insurance Regulatory Unit issued two new circulars, Circular No. (2) of 2025, regarding the requirement of written consent before repairing the damaged vehicle, and Circular No. (3) of 2025, regarding the obligation to pay compensation in work injury and occupational diseases insurance policies, in accordance with Law No. (125) of 2019, to regulate insurance…
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Ahmad Zein
January 21, 2025
Syria: Insurance sector could collapse, Federation warns
The Syrian Insurance Federation (SIF) issued a statement expressing its regret that the bank accounts of insurance companies and SIF have been frozen in pursuant to the instructions of the Central Bank for more than a month without clarifying the reasons. Source: Middle East Insurance Review
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Bilal Jarjour
January 21, 2025
Egypt: Financial Supervision Sets EGP 400 minimum capital for insurance companies
The Board of Directors of the Financial Regulatory Authority (FRA) issued Resolution No. 196 of 2024 regarding determining the minimum capital of companies operating in the insurance sector, in implementation of the provisions of the Unified Insurance Law issued last July. Source:المال
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Bilal Jarjour
January 21, 2025
Reinsurers more willing to cover risks in Middle East
Reinsurers, including Swiss Re have become more willing to provide cover for the Middle East in the industry’s January policy renewal season, removing a clause which allowed them to pull out if the Gaza conflict escalated. Source: Reuters
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