November 20, 2024
Lebanon: A first-time program to cover emergency services
The Lebanese Minister of Public Health, Dr Firas Abiad, launched a new first-time program to cover emergency primary health care services that do not require hospitalization. Source: Al Morakeb group
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Ahmad Zein
November 20, 2024
UAE: 8% growth in written premiums in the UAE in 2024
Total written premiums in the UAE in 2024 grew by 8% to reach more than AED 57.67 billion in 2024, compared to AED 53.4 billion in 2023. Source: Al Morakeb group
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Ahmad Zein
November 20, 2024
GCC: Weaker underwriting performance slows down profit growth in 9M 2024
The latest financial results of 77 listed insurers across the GCC reveal a general decline in underwriting performance, with the Net Combined Ratio (NCR) rising by 1.3 percentage points, according to the Q3 2024. Source: Middle East Insurance Review
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Ahmad Zein
November 20, 2024
Egypt: The head of the Financial Regulatory Authority is considering the availability of payment of insurance policy premiums through new electronic payment platforms
Dr. Mohamed Farid, Chairman of the Financial Regulatory Authority (FRA), revealed that the Financial Regulatory Authority (FRA) is currently studying the availability of insurance policy premiums through new electronic payment platforms. Source: اموال الغد
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Ahmad Zein
November 19, 2024
Standard & Poor’s specific losses for insurance companies despite the magnitude of the repercussions of the flood in Spain the official insurance compensation union covered the bulk of the compensation
According to Standard & Poor’s (S&P), the deadly floods that occurred in Spain’s cities in October 2024, especially in Valencia and other Spanish cities, will have a limited impact on private insurance and reinsurance companies, with the official Insurance Compensation Consortium (CCS) affiliated with the Ministry of Economy, Trade and Business taking charge of the…
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Bilal Jarjour
November 19, 2024
Saudi Arabia: Insurers with reinsurance licenses expect jump in revenue from new reinsurance rule
The Insurance Authority has issued a circular that will require at least 30% of all reinsurance treaties (proportional and non-proportional) to be ceded to licensed reinsurance companies in the kingdom, said Saudi Reinsurance Company (Saudi Re). Source: Middle East Insurance Review
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Bilal Jarjour
November 19, 2024
UAE: Listed insurers post combined pre-tax profits of US$544m for the first 3 quarters of 2024
The first half of 2021 saw a remarkable recovery in profits and overall capital levels in the UAE-listed insurance companies’ market, compared to 12 months agoز Source: Zawya
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Bilal Jarjour
November 19, 2024
Egypt: Chairman of the Financial Regulatory Authority stresses the importance of data in improving insurance services
The Chairman of the Financial Regulatory Authority stressed the importance of providing and controlling statistical data to support the insurance sector and achieve its objectives, pointing out that the lack of such data is a major challenge that affects the accuracy of risk assessment and determining the prices of insurance coverages. Source: المال
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Bilal Jarjour
November 16, 2024
Egypt: FRA obliges companies to notify it of fraudulent operations
In Egypt, the Financial Regulatory Authority obliged insurance companies to notify the authority of fraudulent operations that they discover when underwriting personal insurance lines immediately upon discovery. Source: أموال الغد
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Bilal Jarjour
November 16, 2024
UAE: Motor co-insurance costs on the rise
In the UAE, motor insurers are increasing not just auto insurance premiums, particularly because of losses incurred in this year’s April rains, but also co-payments by insureds. Source: Middle East Insurance Review
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