November 16, 2024
Artificial intelligence is one of the necessities of the cloud in the insurance sector
The Global Cloud Financial Services Report 2025, released by the Capgemini Research Institute, reveals that there is a clear difference between the way traditional financial institutions and modern institutions view their investments in cloud technology. Most banks and insurers rely on cloud solutions, with the aim of increasing operational efficiency (84%), while fintech and tech…
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Bilal Jarjour
November 16, 2024
Egypt: Head of Financial Supervision discusses with international funding bodies mechanisms to cover natural and agricultural risks by insurance
Dr. Mohamed Farid, Chairman of the Board of Directors of the Financial Regulatory Authority, said that discussions as well as the necessary studies are currently being prepared in partnership with the Egyptian Insurance Federation and international financing bodies in determining the appropriate mechanism to cover natural and agricultural risks. Source: اموال الغد
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Bilal Jarjour
November 15, 2024
Egypt: Private insurance fund investments rise to EGP 17.8 bln in 8 months
Private insurance fund investments in Egypt rose to EGP 17.8 bln in January-August 2024 compared to EGP 15.7 bln in the same period last year, a growth of 13.5%, and the volume of insurance fund investments in August alone reached EGP 2.23 bln compared to EGP 2.15 bln, a growth rate of 3.6%, according to…
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Bilal Jarjour
November 15, 2024
Kuwait: Government Insurance Contracts for Employees and Buildings Under Review
As part of its moves to reduce spending and boost non-oil revenues in the public budget, the Ministry of Finance has been studying the aspects of financial waste in the public budget, in an effort to rationalize expenditures, by developing a comprehensive vision through which the windows of unnecessary public spending can be closed. Source:…
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Bilal Jarjour
November 15, 2024
Takaful policies in 2032 will increase by 9.41 percent!
According to a report published by research firm Market Research Future, the volume of proceeds from Takaful policy sales is expected to reach $85.38 billion in 2032, compared to $38.02 billion in 2023. The average annual growth rate during this period is estimated at 9.41%. Source: تامين ومصارف
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Bilal Jarjour
November 15, 2024
Tunisia: Government proposes increasing corporate tax rate for insurers to 40% for 2025 fiscal year
Financial institutions, including insurers and banks, will be required to pay a corporate tax rate of 40%, the government is proposing in the draft Finance Law 2025. Source: Middle East Insurance Review
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Bilal Jarjour
November 14, 2024
Morocco: Second place in policy sales on the African continent
According to the annual report of the African Insurance Organization (OAA), the volume of sales of the African insurance market reached $ 63.5 billion in 2023, a decrease of 5.6% compared to $ 67.3 billion recorded in 2022. Life insurance premiums accounted for 67.6% of the total portfolio compared to 32.4% for the General Insurance…
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Bilal Jarjour
November 14, 2024
Turkey: Insurers cite inflation as reason for steep health insurance premium hikes
Insurers are increasing health insurance premiums by around 150% this year, following a 200% rise last year, according to local media reports. Source: Middle East Insurance Review
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Bilal Jarjour
November 14, 2024
Bahrain: Higher operating costs dent net profits of insurers in 1H
The net profits of insurance companies operating in Bahrain fell by 43.5% to BHD15.78m ($41.87m) in the first half of 2024, compared to BHD27.91m in the corresponding period of 2023, according to the “Insurance Market Review June 2024”, released by the Central Bank of Bahrain earlier this month. Source: Middle East Insurance Review
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Bilal Jarjour
November 14, 2024
Sharm El Sheikh Rendezvous discusses ways to innovate and develop new insurance products
The second session discussed the sixth Sharm El Sheikh Rendezvous Insurance and Reinsurance Forum on the innovation and development of insurance products in a session entitled. “Developing an innovative conception of ways to distribute and develop new insurance products”. Source: اموال الغد
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