August 23, 2024
GCC: Takaful market expected to see another profitable year in 2024
2024 is set to be another profitable year for the Islamic insurance sector in the GCC. Net profits in 2023 had already reached a record of almost $1bn, mainly due to rate adjustments in previously underperforming lines and higher investment returns, says S&P Global Ratings (S&P). Source: Reinsurance news
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Bilal Jarjour
August 23, 2024
Marsh offers port closure insurance with $50 million in compensation
Marsh, one of the world’s leading insurance brokerage and risk advisory firms, and a subsidiary of Marsh McLean, has announced the launch of its first port closure insurance service, with $50 million in compensation, covering shipping ports worldwide. Source: Almorkab group
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Bilal Jarjour
August 21, 2024
GCC: Impact of regional weather-related events in 2Q2024 contained by reinsurance for most insurers
Listed insurers in the GCC region have registered an impressive growth of 8.0% in after-tax profits. Source: Middle East Insurance Review
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Bilal Jarjour
August 21, 2024
Will GCC Islamic insurers’ strong earnings streak continue?
After strong topline growth over 2022-2023, Islamic and Takaful insurers in the Gulf Cooperation Council (GCC) region continue to benefit from favorable growth prospects, mainly due to higher insurance demand in Saudi Arabia, which is the largest Islamic insurance market in the region. Source: S&P Global
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Bilal Jarjour
August 21, 2024
2024 Intangible versus Tangible Risks Comparison Report EMEA Edition (Aon)
The 2024 Intangible versus Tangible Risks Comparison Report is based on insights from 2,462 small, medium and large organisations across a broad range of industries throughout the world. Source: Aon
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Bilal Jarjour
August 21, 2024
Reinsurers post strong profits
A strategic market reset by global reinsurers in 2023 has led to strong technical profits and a shift in industry dynamics, according to a new report by AMBest. Source: Al Morakeb Group
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Bilal Jarjour
August 19, 2024
UAE:26 listed insurers report combined increase in 1H pre-tax profit despite April storm damage
The combined profit before tax of 26 listed insurance companies in the UAE grew by 7% to AED1,044m ($284m) in 1H2024 from AED975m in 1H2023, according to Badri Management Consultancy, an international company that specializes in actuarial services and provides financial services. Source Middle East Insurance Review
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Bilal Jarjour
August 19, 2024
Turkey: Holistic approach needed to raise quake insurance coverage
Educating the public about the importance of insurance must be approach in a more integrated way. Source Middle East Insurance Review
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Bilal Jarjour
August 19, 2024
Egypt: With a growth rate of 22.1%. Insurance companies achieve EGP 43.6 bln in premiums in 6 months
Insurance companies operating in the Egyptian market achieved a premium portfolio of EGP 43.676 billion during the first 6 months of this year, compared to EGP 35.77 billion during the same period of 2023, with a growth rate of 22.1%. The monthly reports of the Financial Regulatory Authority showed that the premiums of commercial insurance…
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Bilal Jarjour
August 19, 2024
Global reinsurers show resilience through de-risking & diversification, says AM Best
On the back of de-risking and diversifying actions, global reinsurers are showing more resilience than in previous cycles, in part thanks to positive underwriting margins, higher reinvestment rates, and diversification, according to a recent AM Best report. Source Reinsurance news
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