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September 27, 2024
Egypt: with a growth rate of 27%. Insurance companies achieve premiums touching EGP 53 bln in 7 months
Insurance companies operating in the Egyptian market achieved a premium portfolio of EGP 52.865 billion during the first 7 months of this year, compared to EGP 41.634 billion during the same period of 2023, with a growth rate of 27%. Source: أموال الغد
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Bilal Jarjour
September 27, 2024
Jordan: Doctors to stop dealing with insurers in disagreement over remuneration
The Jordan Medical Association (JMA) has decided that its members would stop dealing with insurance companies as of 16 October 2024 if the 2024 doctors’ remuneration list remained unapproved then. The decision was made on 23 September. Source : الغد
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Bilal Jarjour
September 27, 2024
UAE: New insurance brokerage regulation takes effect on 15 Feb 2025
The Central Bank of the UAE (CBUAE) has issued the new “Insurance Brokerage Regulation 2024” that will come into force on 15 February 2025. Several new provisions are introduced to improve governance in areas like claims settlements, brokers’ remuneration and the collection of premiums. The new Regulation repeals Insurance Brokerage Regulation 2013. Source: Middle East…
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Bilal Jarjour
September 26, 2024
UAE: Prices of motor insurance policies in the UAE range from “parallel limits” recommended by regulators
The prices of car insurance policies in Jordan were priced within two limits: minimum and maximum, as reported by the Emirates Insurance Federation, and according to the size of the claims. Insurance companies in the UAE have raised prices within the limits set by the regulatory authorities, and between the two limits, knowing that there…
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Bilal Jarjour
September 26, 2024
MEA: The Fidelis Partnership to broaden reach in the region
Bermuda-based The Fidelis Partnership (TFP) has announced that it would broaden its reach in the Middle East, Africa, Asia, and Latin America, all of which have increasing demand for specialist (re)insurance solutions, enhanced by Lloyd’s licensing and TFP’s new Abu Dhabi. Source: Middle East Insurance Review
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Bilal Jarjour
September 26, 2024
Turkiye: Insurance industry sets 10-year goals
The Insurance Association of Turkiye (TSB) has held a brainstorming event during which participants set several 10-year goals for the insurance sector. Source: Middle East Insurance Review
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Bilal Jarjour
September 26, 2024
Insurance data providers: $500 million cyber losses in a year
PERILS AG, A Zurich-based catastrophe insurance data provider, and Cyber AcuView announced the expansion of the US network and cybersecurity industry loss index to include “accidental” accidental loss events, effective October 1, 2024. Source: Economic Insurance Portal
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Bilal Jarjour
September 25, 2024
Saudi Arabia: Health insurance tops the total written premiums in 12 months with a value of 38.6 billion riyals.
The Saudi Insurance Market Report issued by the Insurance Authority revealed that the total written insurance premiums distributed by type of activity in the Kingdom during 2023 increased by 22.8% to 65.6 billion riyals compared to 2022, which was 53.4 billion riyals. Source: Economic Insurance Portal
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Bilal Jarjour
September 25, 2024
Kuwait: Insurers await keenly Health Ministry’s next move on suspended medical insurance scheme
The Ministry of Health’s decision to suspend a health insurance scheme for retired citizens and housewives has raised questions about whether the insurance program, when resumed, would be offered collectively by a group of insurers or awarded to an insurer through a tender. Source: Middle East Insurance Review
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Bilal Jarjour
September 25, 2024
Algeria: Proposed new insurance law should address digital distribution and other issues
Algeria’s proposed new insurance law, whose enactment has been delayed, can address several challenges facing the insurance industry. Source: Middle East Insurance Review
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