May 22, 2024
Algeria: agricultural disaster insurance scheme to be launched shortly
The Caisse Nationale de Mutualité Agricole (CNMA), which dominates the agricultural insurance market, is preparing to launch “very soon” a product covering crops for climate change risks, such as drought and floods. Source: Middle East Insurance Review
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Bilal Jarjour
May 22, 2024
Egypt: the Parliament approves the unified insurance law
In Egypt, the Parliament finally approved, during its plenary session held on Monday 20/5/2024, chaired by Counselor Dr Hanafi Jabali, the unified insurance law. Source: أموال الغد
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Bilal Jarjour
May 18, 2024
Morocco: Takaful business gains momentum
Takaful generated contributions amounting to MAD65.9m ($6.58m) in the year 2023, according to the Insurance and Social Welfare Supervisory Authority (ACAPS). Source: Middle East Insurance Review
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Bilal Jarjour
May 18, 2024
Turkey: Automobiles have highest traffic insurance coverage rate
The number of vehicles covered by traffic insurance (also known as motor third-party liability insurance) in Türkiye exceeded 23.34m as of the end of March, according to data from the Insurance Association of Türkiye Source: Middle East Insurance Review
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Bilal Jarjour
May 18, 2024
Kuwait: Dissolution of Parliament could speed up reforms — S&P
While Kuwait’s dissolution of its parliament and suspension of parts of its constitution (for no longer than four years) could affect Kuwait’s long-standing institutional checks and balances, the measures are also likely to speed the passage and implementation of much-needed structural reforms, says S&P Global Ratings (S&P). Source: Middle East Insurance Review
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Bilal Jarjour
May 18, 2024
Egypt: Insurance industry discusses feasibility of forming a national reinsurer
The amount of capital needed for the proposed establishment of a reinsurance company in Egypt with a high credit rating is estimated at $150m to $250m, according to Mr Gamal Sakr, African Reinsurance Company’s regional director for North East Africa & Middle East Source: Middle East Insurance Review
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Bilal Jarjour
May 16, 2024
Middle East: Reinsurance reinsurers change Middle East’s ranking of natural disasters
International reinsurers have begun to classify the Middle East region as hot spots in natural hazards, after their recurrence over the past years. Source جريدة المال
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Bilal Jarjour
May 16, 2024
Listed insurers post small increase in combined net profits in 1Q
Qatar’s listed insurance companies posted a combined net profit of QAR387.57m ($106.5m) for the first quarter of this year, according to quarterly financial statements published by the companies. The figure represents an increase of 3.37% compared to 1Q2023. Source: Middle East Insurance Review
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Bilal Jarjour
May 16, 2024
Top reinsurers disclose losses arising from Kahramanmaras earthquake
With the publication of annual reports in recent weeks, the world’s three biggest reinsurers have indicated the quantum of claims incurred due to the massive February 2023 earthquake that hit Türkiye and Syria Source: Middle East Insurance Review
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Bilal Jarjour
May 16, 2024
Comprehensive insurance viewed as a lifeline by owners of flood-hit vehicles
The UAE insurance industry sees rising demand for comprehensive motor insurance in the wake of severe floods in recent weeks that submerged or swept away vehicles Source: Middle East Insurance Review
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