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September 19, 2024
Egypt: Head of the Financial Regulatory Authority: We are working to issue the necessary decisions and executive regulations to activate the unified insurance law
Farid pointed out that the Authority is currently working on issuing all decisions and executive regulations necessary to activate the law, in coordination with the various parties of the insurance industry, stressing the issuance of a package of decisions to develop the provisions of the Egyptian accounting standards in support of economic activity, and keep…
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Bilal Jarjour
September 19, 2024
Algeria: Insurance industry grows by 7% in 1H2024
The revenue of the Algerian insurance sector increased to DZD89.8bn ($680m) in the first half of 2024, 7% higher compared to the first half of 2023, according to data released by the Algerian Union of Insurance and Reinsurance Companies (UAR). Source: Middle East Insurance Review
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Bilal Jarjour
September 19, 2024
The future of insurance in the Gulf is likely to be good growth in the insurance sector, but conditional on the implementation of several measures
According to a report issued by Alpen Capital, “the size of the insurance market in the Kingdom of Bahrain may reach US$ 800 million in 2028, recording a compound annual growth rate of 2.6% during the period from 2023 to 2028.” “The life insurance sector is also expected to grow at a CAGR of 4.5%…
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Bilal Jarjour
September 17, 2024
Egypt: Zagazig train accident. The Financial Regulatory Authority directs an increase in death compensation to EGP 50k
Dr. Mohamed Farid, Chairman of the Financial Regulatory Authority, directed the Insurance Pool against the risks of railway, metro and highway accidents, to quickly take the necessary measures towards disbursing compensation to the families of the victims and injured of the Zagazig train accident, in Sharkia Governorate Source: اموال الغد
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Bilal Jarjour
September 17, 2024
Bahrain: Bahrain’s insurance market will reach $800 million in 2028
According to a report issued by Alpen Capital, the insurance market in the Kingdom of Bahrain is expected to reach US$ 800 million in 2028, recording a compound annual growth rate of 2.6% during the period 2023-2028, noting that the life insurance sector is also expected to grow at a compound annual growth rate of…
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Bilal Jarjour
September 17, 2024
Jordan: The Information Technology Committee of the Jordanian Federation of Insurance Companies discusses the construction of a security operations center to protect corporate data from piracy 2024
The Executive Committee for Information Technology at the Jordan Federation of Insurance Companies discussed in a meeting a number of topics related to information technology in its applications in the insurance sector, and one of the topics that were addressed was the Union’s initiative to build a Security Operation Center (SOC) to serve the insurance…
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Bilal Jarjour
September 17, 2024
Tunisia: Direct insurers’ net premiums grow by nearly 10% in 1H2024
Direct insurance companies in Tunisia recorded a solid increase in their turnover at the end of the first half of 2024, according to figures published by the General Insurance Committee (CGA). Source: Middle East Insurance Review
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Bilal Jarjour
September 13, 2024
UAE: GCC insurance sector overcomes climate challenges and grows 8% in second quarter
The 77 GCC listed insurers were not affected by the heavy rains that damaged many vehicles, although the sector saw an 8% growth in net profit after tax and a slight 1.1% increase in the Compound Cost (NCR). Source Al Morakeb group
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Bilal Jarjour
September 13, 2024
Morocco: Competition Council highlights gaps in insurance sector
The Competition Council (CC) has pointed out major structural challenges facing the insurance market, among several other key sectors of the economy, stressing the urgent need to promote genuine competition in the market. Source Middle East Insurance Review
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Bilal Jarjour
September 13, 2024
Financial Control: The number of insurance companies decreased to 41 companies by the end of June 2024
The periodic report of the Financial Regulatory Authority revealed that the number of insurance and reinsurance companies and cooperative insurance societies decreased to 41 companies by the end of June 2024 compared to 42 companies by the end of June 2023, and the number of insurance complexes increased to 6 complexes by the end of…
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