January 15, 2025
UAE: 4 discounts based on car insurance policy prices
Motor insurance regulations in the UAE are based on the existence of 4 main ways to get discounts ranging from 10 to 30% on the minimum price of the motor insurance policy. Source: Al Morakeb
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Bilal Jarjour
January 15, 2025
Moody’s: The Lebanese economy contracted 10% in 2024 and will grow 0.8% in 2026
The Lebanese economy is expected to retract by 2% in 2025 and grow by 0.8% in 2026. On the other hand, the report commented that inflation levels have declined from 221.3% in 2023 to 67.4% in 2024, and these levels are expected to decline to 41.3% in 2025 and 35.1% in 2026. Source: Lebanon Economy
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Bilal Jarjour
January 15, 2025
Los Angeles fire insurance losses estimated up to $25 billion
Fires continue to spread, destroying more than 12,000 buildings and burning more than 40,000 acres. According to estimates by Autonomous that raised its estimate of insurance losses from the ongoing Los Angeles fires to $25 billion, up 92 percent from previous estimates, warning that the state’s FAIR Plan could risk bankruptcy if it can’t cover…
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Bilal Jarjour
January 14, 2025
Iran: Health insurance purchases surge
Iran has seen a significant surge in purchase of health insurance covers from private health insurers (…) The cost of healthcare services has also risen during the year 2024. Source: Middle East Insurance Review
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Bilal Jarjour
January 14, 2025
Tunisia: Market volume up 11% by end of 3Q2024
The insurance market in Tunisia managed to score double digit growth in the first three quarters of 2024, according to the General Insurance Authority. Source: Middle East Insurance Review
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Bilal Jarjour
January 14, 2025
Egypt: Direct compensation to insurance companies in Egypt jumps 371% in 10 years
The statistical yearbook issued by the Financial Regulatory Authority (FRA) showed a remarkable growth in direct compensation paid by insurance companies in Egypt during the period from 2013 to 2023. Source: المال
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Bilal Jarjour
January 14, 2025
Moody’s expects $20 billion in insurance damages over Los Angeles fires
Forecasts from credit rating agency Moody’s indicate that wildfires burning in the Los Angeles area will lead to huge financial losses for insurance companies, with losses expected to exceed billions of dollars due to the rise in the value of damaged property. Source: المال
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Bilal Jarjour
January 13, 2025
Bahrain to increase employer social insurance contributions
The Social Insurance Organization (SIO) announced a 1% increase in employer contributions to mandatory social insurance, effective January 2025. Source: Middle East Insurance Review
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Bilal Jarjour
January 13, 2025
Egypt: Cabinet: Social Insurance Authority’s investments increased by EGP 44.2 billion
In its weekly meeting, the Cabinet reviewed the annual report and final account of the National Organization for Social Insurance for the fiscal year ending on June 30, 2024, as well as the report of the Authority’s investments for the same period, with the aim of following up and reporting on developments. Source: Al Morakeb
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Bilal Jarjour
January 13, 2025
Egypt: Digital Transformations Driving the Future of Life Insurance Industry
The Egyptian Insurance Federation confirmed in its bulletin issued on Wednesday, January 8, 2025, that the life insurance sector is undergoing an unprecedented transformation driven by rapid technological developments, demographic changes, and global economic transformations. Source: المال
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