January 13, 2025
The cost of global disasters is $ 320 billion in 2024
The world’s largest reinsurance group said hurricanes, fires and other disasters caused losses worth $320 billion in 2024, or about a third more than a year earlier, highlighting losses from climate change and real estate development in areas affected by extreme weather. Source: Al Morakeb
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Bilal Jarjour
January 10, 2025
Lebanon: hospitals vs ins companies: will patients pay the 15% difference?
In Lebanon, the hospital sector is witnessing a new struggle, the basis of which is raising hospital fees. The Syndicate of Hospitals announced that this decision would come into effect at the start of the new year, at a 15% rate on the tariffs contracted with each of the insurance companies that expressed their dissatisfaction…
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Bilal Jarjour
January 10, 2025
Dubai: Insurers add dental, mental health coverage as premiums rise up to 20%
Dubai residents and companies will have to shell out up to 20 per cent more for their health insurance but insurers have added some major benefits such as dental, psychiatric, organ transplant and dialysis in the new upgraded packages Source: Khaleej Times
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Bilal Jarjour
January 10, 2025
Life insurance premiums expected to rise globally to $5 trillion by 2035
The Egyptian Insurance Federation revealed that the global life insurance industry is witnessing a remarkable boom, adding that total global life insurance premiums are expected to reach $ 4.8 trillion by 2035, compared to $ 3.1 trillion for 2024, driven by higher interest rates. Source: أموال الغد
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Bilal Jarjour
January 10, 2025
Reinsurance market to remain largely attractive for buyers and sellers in 2025
Global broking group Aon expects the reinsurance market to remain largely attractive for both buyers and sellers of protection in the months ahead, but has called on reinsurers to demonstrate their value as they target top line growth. Source: Reinsurance News
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Bilal Jarjour
January 8, 2025
Algeria: Insurance sector records 4.9% growth in 9 months
Algeria’s insurance sector recorded a rise in turnover to 131.7 billion dinars (about $970 million) in the first nine months of 2024, thanks to the emerging “Takaful” insurance activity, according to an official in the sector. Source: ارم
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Bilal Jarjour
January 8, 2025
Morocco: Regulator studies launching compulsory home insurance
The Insurance and Social Security Supervisory Authority in Morocco is currently conducting a feasibility study on the introduction of mandatory home insurance. Source: Middle East Insurance Review
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Bilal Jarjour
January 8, 2025
Egypt: Commercial insurance premiums achieve 24% growth in 10 months of last year
The commercial insurance sector in Egypt achieved a 24% growth in the value of premiums collected during the period from January to October 2024, reaching 67.45 billion EGP, compared to 54.4 billion EGP in the same period of 2023. Source:المال
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Bilal Jarjour
January 8, 2025
Global property catastrophe ROL index down 6.6% at Jan 1 reinsurance renewals: Guy Carpenter
Property Catastrophe Rate (ROL) index has fallen 6.6% at the January 1st, 2025, reinsurance renewals, which reflects the reported rate decreases seen across global property catastrophe treaties. Source: Reinsurance News
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Bilal Jarjour
January 7, 2025
UAE: Market reaches almost $14bn in first three quarters of 2024
The UAE insurance sector maintained its growth trajectory in the first three quarters of 2024 as well. According to the Quarterly Economic Review issued by Central Bank of UAE (CBUAE) in December 2024, gross written premiums (GWP) for the insurance sector grew by 20.9%. Source: Middle East Insurance Review
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