April 2, 2024
Egypt: Insurance premiums collected in the Egyptian market during the fourth quarter of year 2023 exceed 19 bn EGP
The quarterly report issued by the Financial Regulatory Authority revealed that the total premiums collected in the insurance sector increased to 19.142 billion EGP pounds during the fourth quarter of year 2023, compared to 14.56 billion EGP during the same period of year 2022, with a growth of 31.48%. Source: أموال الغد
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Bilal Jarjour
March 29, 2024
Insurance experts: financial losses from the Moscow attack may reach $108 million
Insurance experts expected that the financial losses resulting from the recent attack on the Russian Crocus City Hall would exceed more than 10 billion rubles ($108 million), with investigations and settlements likely to extend over two years, according to information obtained by the TASS Russian news agency. Source: الجزيرة
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Bilal Jarjour
March 29, 2024
Lloyd’s of London Swings to $13.5 Billion Profit in 2023
Lloyd’s of London swung to a pre-tax profit of 10.7 billion pounds ($13.51 billion) in 2023, the commercial insurance market said on Thursday, boosted by strong underwriting and investment performance. Source: Insurance Journal
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Bilal Jarjour
March 29, 2024
April 1 reinsurance renewals more favourable to buyers: Aon
The April 1st, 2024, reinsurance renewals were “more predictable and generally favorable to reinsurance buyers,” with pricing broadly flat for property catastrophe reinsurance, according to insurance and reinsurance broker Aon. Source: Reinsurance News
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Bilal Jarjour
March 29, 2024
Egypt: FRA: 415.85 bn EGP in financing granted by entities subject to the authority’s supervision
The latest reports issued by the Financial Regulatory Authority for the fourth quarter of year 2023 showed that the total financing granted through entities subject to the authority’s supervision (capital market activities, non-banking financing activities) amounted to 415.85 billion EGP. Source: أموال الغد
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Bilal Jarjour
March 28, 2024
Qatar: Listed insurers show mixed financial performance in 2023
Qatar’s listed insurance companies posted a combined net loss of QAR360m ($99m) for the financial year ended 31 December 2023, according to annual financial statements lodged by the companies with the Qatar Stock Exchange. Source: Middle East Insurance Review
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Bilal Jarjour
March 28, 2024
The Insurance Federation reviews the global risks report for 2024
The Insurance Federation of Egypt has issued a summary of global risks targeting the Egyptian insurance market, following the annual World Economic Forum. Source: المصري اليوم
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Bilal Jarjour
March 28, 2024
Saudi Arabia: insurance sector companies achieve the highest profits in their history during 2023
According to “Maaal”, and on basis of the companies’ disclosures of their financial results for the year 2023 published in the Saudi exchange market, the insurance companies listed on the Saudi capital market achieved a historic transformation in their net profits with a huge growth of 895.7%, an increase equivalent to 3,035.7 million riyals, their…
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Bilal Jarjour
March 28, 2024
Saudi Arabia: appointment of 5 qualified members in the BOD of the Insurance Authority
A Royal Order was issued by Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, to appoint members of the Board of Directors of the Insurance Authority who are competent and experienced in the Authority’s field of work, and they are: Saleh bin Nasser Al-Omair, Nicholas Andres Nicandro, Yousef bin Hamad…
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Bilal Jarjour
March 27, 2024
Egypt: Chairman of FRA: We aim to develop insurance companies’ underwriting policies in order to improve technical results
Dr Mohamed Farid, Chairman of the Board of Directors of the Financial Regulatory Authority, revealed the authority’s schemes to develop the work of insurance companies operating in the Egyptian market. Dr Farid pointed out that the Authority seeks to develop the requirements for actuarial reports in the field of pricing, as well as to develop…
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