October 5, 2024
Egypt: The Financial Supervisory Authority issues a periodic letter on the publication of any information and data on the activities of government insurance funds
The Financial Regulatory Authority (FRA), headed by Dr. Mohamed Farid, issued Circular No. (5) of 2024, regarding the publication of any statistical data, reports or studies on the activity of government insurance funds, as part of the Authority’s endeavors to protect customers, ensure the stability of transactions, and enhance the confidence of the public in…
Read morePOSTED BY
Bilal Jarjour
October 3, 2024
Turkey: Financial resilience as a priority for insurance authorities
Financial resilience is a top priority for the insurance authorities in Turkiye and there are great efforts being made to strengthen the insurance sector. Source: Middle East insurance Review
Read morePOSTED BY
Bilal Jarjour
October 3, 2024
Billions in losses due to Hurricane Boris and AON admits to the high cost.
Cyclone Boris, which hit Central and Eastern Europe, recorded several losses for insurance and repatriation companies, estimated at $3.3 billion. “This hurricane was the most costly and especially as it caused the deaths of 24 people, 10 of them in Bologna, 7 in Romania, 4 in Prague and 3 in Austria, as well as missing…
Read morePOSTED BY
Bilal Jarjour
October 3, 2024
Egypt: The Egyptian Insurance Federation discusses compensation file for loss of profits resulting from business interruption
The Egyptian Insurance Federation organized a comprehensive workshop on compensation for loss of profits resulting from business interruption. Source: اموال الغد
Read morePOSTED BY
Bilal Jarjour
October 3, 2024
Saudi Arabia and the UAE lead the Arab written premiums sector with $ 32 billion
A report by the Arab Monetary Fund revealed that insurance companies in Saudi Arabia and the United Arab Emirates came in the first ranks in terms of total written insurance premiums, after exceeding $ 32 billion, reaching about $ 17.45 billion in Saudi Arabia, and $ 14.71 billion in the UAE by the end of…
Read morePOSTED BY
Bilal Jarjour
October 1, 2024
UAE: Insurance sector well-capitalized with healthy earnings ratio in 1H
The UAE insurance sector reported that written premiums increased by 31.2% year on year (y-o-y) in the first half of 2024 to AED35.7bn ($9.75bn), according to the latest Quarterly Economic Review issued last week by the Central Bank of the UAE. Source: Middle East insurance Review
Read morePOSTED BY
Bilal Jarjour
October 1, 2024
Egypt: Financial Control EGP 9.2 billion insurance premiums and EGP 3.7 billion compensation paid during July 2024
The Financial Supervisory Authority revealed that the total premiums of the Egyptian insurance activity recorded EGP 9.2 billion during July 2024.The authority said in a statement issued on Sunday that these premiums were distributed between 5.6 billion pounds achieved by property and liability insurance companies in the market, and 3.6 billion pounds in companies insuring…
Read morePOSTED BY
Bilal Jarjour
October 1, 2024
Strong annuity growth continues as reinsurers shift business offshore to Bermuda:
US life/annuity (L/A) insurers have doubled their ceded reserves to $1.74 trillion between 2016 and 2023 driven by strong annuity growth on higher interest rates with an increasingly larger portion headed offshore, an AM Best report has disclosed. Source: Reinsurance news
Read morePOSTED BY
Bilal Jarjour
October 1, 2024
Survey reveals banks missed bancassurance opportunity, with home insurance leading
Sollers, a consulting firm specializing in digital transformation, and Ipsos, a market research company, have recently conducted a survey that highlights how banks are not fully leveraging the potential of bancassurance. Source: Reinsurance news
Read morePOSTED BY
Bilal Jarjour
September 30, 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. Source: Middle East Insurance Review
Read morePOSTED BY