June 3, 2024
Qatar Chamber’s Insurance Committee reviews pricing of insurance services
The Insurance Committee of the Qatar Chamber discussed several key topics, including the pricing of mandatory insurance for residents, the participation of insurance companies in the pricing of insurance services, the commission rate of insurance brokerage firms and the scope of their work, digital transformation, insurance for electric cars, and other topics. Source: وكالة الأنباء…
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Bilal Jarjour
June 3, 2024
GCC zone: listed insurers’ Q1 2024 results
In partnership with Lux Actuaries and Consultants, Insurance Monitor has published the main quarterly performance indicators for the 77 listed insurers operating in the GCC (Gulf Cooperation Council) zone. The study was carried out in accordance with the new International Financial Reporting Standard no 17. Source: Atlas Magazine
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Bilal Jarjour
June 3, 2024
Egypt: insurance sector entities turn to actuaries to implement the new accounting standard
Insurance companies resorted to actuarial experts alongside specialists in information systems in preparation for the mandatory application of the “Egyptian standard 50” for accounting. It is worth noting that the Financial Supervisory Authority has issued a decision in year 2022 to begin the mandatory application of the “accounting standard 50” in the insurance sector, beginning…
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Bilal Jarjour
May 29, 2024
Some insurers in the spotlight over capital position
The new minimum capital requirement of SAR300m ($80m) for insurance companies in Saudi Arabia by the end of 2024 puts at least five insurers on the radar, according to Insurance Monitor, a research and consulting firm. Source Middle East Insurance Review
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Bilal Jarjour
May 29, 2024
Algeria: Improvements suggested in proposed revision of insurance law
Algeria’s proposed revision of the insurance law should provide for the creation of an independent regulatory authority to oversee the insurance sector. Source Middle East Insurance Review
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Bilal Jarjour
May 29, 2024
UAE: Insurance prices expected to rise 30% after roar losses
Insurance companies expected insurance prices to rise during the coming period, to range between 10 and 30%, as a result of losses incurred by companies, after the low (roar) that the state was exposed to weeks ago. She explained that the unexpected losses suffered by companies as a result of repairing large numbers of damaged…
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Bilal Jarjour
May 29, 2024
Saudi Arabia: Saudi Arabia opens electronic insurance markets: towards a digital future for the sector
The Insurance Authority has proposed a draft amendment to the Electronic Insurance Operations Regulation, to allow the sale of various products through websites. The amendment includes Article XIII, which stipulates that “the company must apply for the approval of the Insurance Authority for the types of insurance products that will be sold through its website,…
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Bilal Jarjour
May 27, 2024
1Q2024 earnings of listed insurers jump by 22% on higher investment
Higher investment income averaging at a quarterly rate of return on investments (ROI) of 1.7% (1Q2023: 1.3%) has boosted the first-quarter earnings of 77 listed insurers in the GCC region, according to Insurance Monitor, a research and consulting firm. Source Middle East Insurance Review
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Bilal Jarjour
May 27, 2024
Tunis: Towards the development of a digital platform for the insurance sector
In Tunis, the Tunisian Federation of Insurance Companies (FTUSA) is committed to developing an online platform aimed at modernizing the sector. Source: Atlas Magazine
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Bilal Jarjour
May 27, 2024
KSA: Listed insurance industry performance analysis – First quarter 2024
In KSA, the insurance industry performance analysis for the first quarter of year 2024 has been released by Badri. Source: Badri
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