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August 27, 2025
UAE: Central bank assesses implications of climate risks on financial sector
A study by the Central Bank of the UAE (CBUAE) has assessed the financial implications of climate-related disasters for the financial system, including the broader macroeconomic impact. Source: Middle East Insurance Review
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Bilal Jarjour
August 27, 2025
Uzbekistan is fighting the outflow of foreign currencies by establishing a national reinsurance company.
Uzbekistan officially establishes its first national reinsurance company, which is set to start operations on September 1 of this year, just a few days away. Source: تأمين ومصارف
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Bilal Jarjour
August 27, 2025
Turkey: Insurance market’s profit increases by 59% in 2024
The Turkish insurance sector demonstrated significant growth in 2024, with total profits reaching TRY31.8bn, a 59.46% increase compared to the previous year, according to KPMG. Source: Middle East Insurance Review
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Bilal Jarjour
August 27, 2025
Insurance Companies Union: GRC is a strategic necessity to face complex risks in the sector.
The Egyptian Insurance Federation confirmed that the insurance sector is facing a range of multi-dimensional risks, including cyber risks, operational risks, and compliance risks. These are risks that are evolving rapidly and becoming more complex with the pace of digital transformation. Source:المال
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Bilal Jarjour
August 23, 2025
AM Best data highlights strong life reinsurer performance in 2024.
Reinsurance Group of America (RGA) is the world’s largest reinsurer focused solely on life reinsurance and ranks third overall among companies that also write non-life reinsurance, based on AM Best’s full-year 2024 data for firms reporting under non-IFRS 17. Source: Reinsurance News
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Bilal Jarjour
August 23, 2025
Small and medium-sized enterprises are not interested in cyber risks for reasons including cost.
In addition to climate risks, cyber risks have become a major concern for insurance companies. While large companies enjoy relatively good coverage (over 80%), small and medium-sized enterprises are still lagging in this area, with insurance covering only 10% of them, despite subscription growth of 32% by 2024. Source: تأمين ومصارف
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Bilal Jarjour
August 23, 2025
Islamic insurance companies in the Gulf countries are facing a decline in profits despite strong revenue growth.
S&P Global Ratings expects that Islamic and takaful insurance companies in the Gulf Cooperation Council (GCC) will experience a sharp decline in profits during 2025, even as they continue to benefit from strong revenue growth. Source:بوابة الإقتصاد التأمينية
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Bilal Jarjour
August 23, 2025
Lebanon: AM Best Affirms Credit Ratings of Arab Re for year 2025.
AM Best, the global rating agency, has issued its annual rating for Arab Reinsurance Company S A L (Inter-Arab Company), affirming its Financial Strength Rating of B (Fair). The outlook is stable. This positive affirmation of the Company’s financial strength is a confirmation of the soundness of the strategies it has adopted since its establishment,…
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Bilal Jarjour
August 21, 2025
Egypt: Insurance federation studies CAT bonds to boost resilience
The reinsurance committee of the Insurers Federation of Egypt (IFE) is undertaking a study on natural catastrophe bonds, in cooperation with the Financial Regulatory Authority. Source: Middle east Insurance Review
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Bilal Jarjour
August 21, 2025
Reinsurance market will continue to thrive in 2025 despite modest softening: AM Best
AM Best has noted that the property reinsurance market remains stable at mid-year 2025, with modest softening appearing at the highest attachment layers, yet the agency expects overall conditions to remain robust through year-end. Source: Reinsurance News
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