March 25, 2024
Egypt: The Prime Minister issues a decision amending the provisions of the Egyptian accounting standards to keep pace with global developments
Prime Minister Dr Mostafa Madbouly issued the resolution no 636 of year 2024, stipulating the development of some provisions of the Egyptian accounting standards, in support to establishments operating in various productive activities and enabling them to properly present their financial statements, and make sound investment or financing decisions. Source: أموال الغد
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Bilal Jarjour
March 25, 2024
Morocco: Non-life insurance business leads industry growth in 2023
The insurance market in Morocco achieved total premiums of MAD56.7bn ($5.6bn) in 2023, an increase of 4% over 2022, according to annual industry data released by the Insurance and Social Security Supervisory Authority (ACAPS). Source: Middle East Insurance Review
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Bilal Jarjour
March 25, 2024
Oman: Listed insurers’ net profits soar by 42% to US$56m in 2023
The recorded after-tax profits of Oman’s eight listed insurance companies saw an increase to OMR21.5m ($56.2m) in 2023 from OMR15.2m in 2022, marking a 42% increase, according to an analysis by Badri Management Consultancy. Source: Middle East Insurance Review
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Bilal Jarjour
March 25, 2024
Global insurance broker’s outlook stable for 2024 on strong organic growth: Moody’s
Moody’s predicts a 2024 stable outlook for the insurance brokerage sector, underpinned by constructive global economic growth, and a favorable commercial property & casualty (P&C) rate environment. Source: Reinsurance news
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Bilal Jarjour
March 23, 2024
Tunisia: Direct insurers see slower market growth of 6.4% in 2023
Net premiums of direct insurers grew at 6.4% in 2023 to TND3,389m ($1,092m), according to the General Insurance Committee (CGA). Source: Middle East Insurance Review
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Bilal Jarjour
March 23, 2024
Egypt: insurance brokers get a ruling to cancel the disclosure of commissions in payment receipts
Insurance brokers have obtained a new ruling from the Administrative Court of the State Council, accepting their suit in form, to cancel the disclosure of their commissions in receipts and notifications of payment of insurance policies in accordance with the decision issued by the Board of Directors of the Financial Regulatory Authority no 181 of…
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Bilal Jarjour
March 23, 2024
Egypt: FRA discusses with its Omani counterpart enhancing areas of cooperation in capital market and insurance
Dr Mohamed Farid, Chairman of the Financial Regulatory Authority (FRA), held a meeting with officials of the Capital Market Authority (CMA) in the Sultanate of Oman to discuss ways to enhance existing and potential areas of cooperation between the Capital Market Authority of the Sultanate of Oman and the Financial Regulatory Authority in Egypt. Source:…
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Bilal Jarjour
March 23, 2024
Lebanon: Mr. Nadim Haddad as Head of the Insurance Control Commission
In a follow-up to the file of the insurance sector, which has recently witnessed dark moments, some of which were with the judiciary, the Economy and Trade Committee, headed by MP Farid Al-Bustani, put the finger on the wound, turning its meeting into a revealing session, which ended with the commitment of Minister of Economy,…
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Bilal Jarjour
March 21, 2024
Egypt : Property insurance branch drives industry growth in 2023
Insurance premiums in the Egyptian market increased in nominal terms by 30.4% in 2023 to reach EGP74.1bn ($1.55bn), compared to EGP56.8bn in 2022. Source Middle East Insurance Review
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Bilal Jarjour
March 21, 2024
UAE Cabinet approves the introduction of a health insurance system for workers
During its meeting, the UAE Cabinet, chaired by Sheikh Mohammed bin Rashid Al Maktoum, adopted a decision to introduce a health insurance system for workers registered with private sector institutions and domestic service workers in the UAE that do not have health insurance systems for such workers. Source: El Morakeb Group
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