March 12, 2024
Insurance is not ready for AI
The first main session of GAIF 34 addressed one of the big issues head on: How is the sector leveraging AI to disrupt and reshape the Arab insurance landscape? Source: Middle East Insurance Review
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Ahmad Zein
March 12, 2024
Egypt: Insurance companies pay claims exceeding 35 bn EGP within a year
In Egypt, the monthly report issued by the Financial Regulatory Authority reported an increase in claims paid by insurance companies during 2023 to 35.085 billion EGP, compared to 26.719 billion EGP during year 2022, being a growth of 31.3%. Source: أموال الغد
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Ahmad Zein
March 11, 2024
Hatem Amira: Insurance companies apply the law
The Director General of the Tunisian Federation of Insurance Companies, Hatem Amira, confirmed that there is a great demand for non-compulsory motor insurance operations. Source: الإذاعة الوطنية
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Bilal Jarjour
March 11, 2024
Reinsurers Defend New Business Margins at January 2024 Renewals
Underwriting Margins to Peak in 2024 In contrast to 2023, in this year’s January renewals only loss affected lines of business and regions witnessed significant price increases. Source: Fitch Ratings
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Bilal Jarjour
March 11, 2024
Egypt: Egyptian Insurance Federation Participation in the First Edition of the Financial Supervisory Authority Conference
Insurance awareness is one of the most important axes adopted by the Egyptian Insurance Federation in its various strategies, because of its great return on the insurance industry as a whole and on insurance companies, and the Union is making various efforts in partnership with the Financial Supervisory Authority, in light of achieving insurance coverage…
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Bilal Jarjour
March 11, 2024
Egypt: Insurers expect benefits from liberalisation of the pound
The insurance industry is expecting gains from the Central Bank of Egypt’s (CBE) move on 6 March to liberalize the Egyptian pound and raise major interest rates by 600 basis points. The goal is to combat high inflation and attract foreign investments. Source: Middle East Insurance review
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Bilal Jarjour
March 9, 2024
Property cat reinsurance pricing power to fall 5-10% at mid-year renewals
As per a report from analysts at BMO Capital Markets, a prominent reinsurance broking executive from Howden Tiger has suggested property-catastrophe reinsurance pricing power will fall 5-10% at mid-year contract renewals. The comments from the Howden Tiger executive were reportedly made at the Association of Insurance and Financial Analysts (AIFA) conference Source: Reinsurance news
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Bilal Jarjour
March 9, 2024
Reinsurance demand to remain strong but prices to peak in 2024, says Moody’s
Trading conditions at the January 1st, 2024, reinsurance renewals were much more stable than a year earlier, and with discipline maintained and a greater willingness from existing carriers to deploy, the outlook for 2024 is one of more stability and healthy levels of profitability, Source: Reinsurance news
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Bilal Jarjour
March 9, 2024
UAE: “Sanadak” launched as the first unit for settling banking and insurance disputes
In the UAE, Sanadak has begun its operative operations to develop the government services system and in compliance with the provisions of the legislation in force from the Central Bank of the United Arab Emirates. Source: almorakebgroup.com
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Bilal Jarjour
March 9, 2024
Egypt: Experts: An expected recovery in insurance premiums
The insurance sector is betting on unifying the exchange rate to increase premiums, along with expectations of increased returns from the sector’s investment portfolio. Source: almorakebgroup.com
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