January 25, 2024
Saudi Arabia: Health insurance branch drives industry growth in first 3 quarters of 2023
Saudi insurance companies saw a 22% increase in gross written premiums, totalling SAR48.96bn ($13.05bn) for the nine months ended 30 September 2023, compared to the corresponding period in 2022. Source: Middle East Insurance
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Bilal Jarjour
January 25, 2024
Geneva Association: Climate Tech for Industrial Decarbonisation: What role for insurers?
A report prepared by the Geneva Association examines the climate tech landscape and identifies potential opportunities for the re/insurance industry in this space. Source: Geneva Association
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Bilal Jarjour
January 25, 2024
Moody’s changes outlook on Egypt to negative, affirms Caa1 ratings
Moody’s Investors Service (Moody’s) has changed the outlook on Government of Egypt to negative from stable and affirmed the Caa1 long-term foreign and local currency issuer ratings. Source: Moody’s
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Bilal Jarjour
January 23, 2024
The Saudi insurance sector grows by 22%, with focus on health as a key driver
Saudi insurance companies witnessed a 22% increase in the total premiums underwritten, reaching a total of 48.96 billion Saudi Riyals (13.05 billion dollars) for the nine months ending in September 2023, exceeding the same period of the previous year. Source: banker
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Bilal Jarjour
January 23, 2024
Egypt: FRA: ins cos pay 3.3 bn EGP as claims during last October
In Egypt, the Financial Regulatory Authority announced an increase in the value of insurance claims paid by insurance companies to their clients during the month of October 2023 by 56% on annual basis.Top of Form Source: Elbalad.news
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Bilal Jarjour
January 23, 2024
Egypt: Tender exercise launched for insurance cover for 2024 Olympic participants
Four insurance companies are vying to provide accident insurance coverage to sports personnel who will be participating in the 2024 Paris Olympics. Source: Middle East Insurance Review
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Bilal Jarjour
January 23, 2024
Insurers shun many ships carrying goods through the Red Sea as attacks continue
CNN – A growing number of insurers are refusing to cover American and British vessels against war risks in the key commercial shipping corridor through the Red Sea as attacks from Houthi rebels continue. Source: CNN
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Bilal Jarjour
January 18, 2024
Syria: Electronic payments in compulsory car ins centers soon.
The General Manager of the Insurance Supervisory Commission, Dr Rafed Mohammad, revealed that soon, electronic payments will be implemented in mandatory car insurance centers, thus covering all types of insurance. Source: Tishreen
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Bilal Jarjour
January 18, 2024
UAE: Reinsurers have not increased rates for local companies
According to sources in the insurance sector, the majority of renewals between local insurers and global reinsurers have been smoothly achieved, supported by positive financial results, profits, and no significant losses. Source: Al Morakeb Group
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Bilal Jarjour
January 18, 2024
Egypt: absence of a national reinsurance company… Parliamentary inquiry regarding spent foreign currency
Dr Ghada Ali, member of the Economic Committee in the Parliament, submitted a request for parliamentary inquiry regarding the opportunities wasted from foreign currency due to the absence of a national reinsurance entity. Source: Amwal Al Ghad
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