October 9, 2024
Türkiye: Reinsurance capacity in abundance
Reinsurance capital is at its peak now with sufficient capital to cover the 2025 and beyond; yet, addressing the protection gap could be via the use of non-traditional reinsurance tools, said Guy Carpenter president, global accounts Charles Whitmore. Source: Middle East Insurance Review
Read morePOSTED BY
Bilal Jarjour
October 8, 2024
Egypt: The Financial Supervisory Authority issues a periodic letter on the publication of any information and data on the activities of government insurance funds
The Financial Regulatory Authority (FRA), headed by Dr. Mohamed Farid, issued Circular No. (5) of 2024, regarding the publication of any statistical data, reports or studies on the activity of government insurance funds, as part of the Authority’s endeavors to protect customers, ensure the stability of transactions, and enhance the confidence of the public in…
Read morePOSTED BY
Bilal Jarjour
October 8, 2024
Cyber insurance market expected to grow to $40 billion by 2030
Specialist insurance firm Beazley expects the cyber insurance market to grow from $15 billion in 2024 to $40 billion by 2030, driven by increased demand as a result of rising cyber threats and rising costs, while the company continues to manage its exposure amid premium growth. Source: بوابة التأمين الاقتصادية
Read morePOSTED BY
Bilal Jarjour
October 8, 2024
UAE: Insurance market expected to face challenges due to rising credit risk
The combined insurance revenue of listed companies and foreign branches saw a 19% surge to AED42.4bn in 2023, compared to AED35.5bn in 2022, under IFRS 17, according to an analysis by Badri Management Consultancy, an international company offering actuarial services. Source: Middle East Insurance Review
Read morePOSTED BY
Bilal Jarjour
October 8, 2024
GAIF tackles legal issues concerning motor insurance
While the nature of motor insurance business varies from one Arab country to another, especially in terms of laws and regulations, all Arab motor insurance markets face common challenges that require taking prompt measures to control losses, said speakers at a recent webinar organized by the General Arab Insurance Federation. Source: Middle East Insurance Review
Read morePOSTED BY
Bilal Jarjour
October 5, 2024
Insurance industry reported combined profits of US$681m for 2023
The total profits of the UAE insurance sector amounted to AED2.5bn ($681m) in 2023, compared to AED1.96bn in 2022, according to the Central Bank of the UAE. Source: Middle East insurance Review
Read morePOSTED BY
Bilal Jarjour
October 5, 2024
Moody’s: Central European floods cost insurance industry $3.9 billion
Damage from severe floods that swept through the Czech Republic, Austria, Poland, Slovakia, Hungary, Germany and Italy between September 11 and 19 is expected to result in losses in the insurance industry ranging from $2.8 billion (€2.5 billion) to $3.9 billion (€3.5 billion), according to disaster risk modeling firm Moody’s. Source:بوابة التامين الإقتصادية
Read morePOSTED BY
Bilal Jarjour
October 5, 2024
Jordan: Suggestions and recommendations of the Car Insurance Committee in the Jordanian Federation of Insurance Companies
The Executive Committee of the Motor Insurance Committee operating under the framework of the Jordanian Federation of Insurance Companies discussed, in a meeting at the General Administration of the Federation, the draft instructions for the principles and procedures for settling and paying claims resulting from vehicle accidents for the year 2024, in addition to identifying…
Read morePOSTED BY
Bilal Jarjour
October 5, 2024
Egypt: The Financial Supervisory Authority issues a periodic letter on the publication of any information and data on the activities of government insurance funds
The Financial Regulatory Authority (FRA), headed by Dr. Mohamed Farid, issued Circular No. (5) of 2024, regarding the publication of any statistical data, reports or studies on the activity of government insurance funds, as part of the Authority’s endeavors to protect customers, ensure the stability of transactions, and enhance the confidence of the public in…
Read morePOSTED BY
Bilal Jarjour
October 3, 2024
Turkey: Financial resilience as a priority for insurance authorities
Financial resilience is a top priority for the insurance authorities in Turkiye and there are great efforts being made to strengthen the insurance sector. Source: Middle East insurance Review
Read morePOSTED BY