October 29, 2024
9M’24 insured natural catastrophe losses above average at $102bn: Aon
Global broking group Aon estimates insurance industry losses from natural catastrophe events in the first nine months of 2024 of at least $102 billion, with the impacts of hurricane Milton and additional events expected in the rest of the year poised to push annual insured losses above the $125 billion seen in 2023. Source: Reinsurance…
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Bilal Jarjour
October 29, 2024
Egypt: the life ins sector expected to grow annually by 10% in the coming period
The life insurance sector in Egypt is undergoing a radical transformation, which is becoming increasingly important in light of economic and social changes. Hence, there are expectations for the growth of the insurance market in Egypt, as the life insurance market in Egypt is witnessing increasing growth and the penetration rate of insurance among Egyptians…
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Bilal Jarjour
October 28, 2024
The motor insurance revolution
With a turnover of 1920 billion USD posted in 2023, motor insurance accounts for 27% of global life and non-life premiums. This global contribution surpasses 40% in some countries, such as Turkey (42%) and the United States (41%). Source: Atlas Magazine
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Bilal Jarjour
October 28, 2024
The reinsurance market is constructed to handle events like Helene & Milton, Aon’s Andersen
The reinsurance market is constructed to handle major events like hurricane’s Helene and Milton, according to Eric Andersen, President of global insurance and reinsurance brokerage, Aon. Source: Reinsurance News
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Bilal Jarjour
October 28, 2024
Head of FRA in Egypt: We aim to integrate climate goals within the priorities of non-banking financial institutions
Dr Mohamed Farid, Chairman of the Financial Regulatory Authority in Egypt, participated in the discussion session entitled “Developing carbon markets in Africa: challenges and opportunities”, within the annual meetings of the World Bank Group held in Washington from October 21 to 26, 2024. Source: أموال الغد
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Bilal Jarjour
October 28, 2024
Lebanon: The repercussions of the war knocking on the door of insurance… Why have foreign reinsurers abandoned the Lebanese market?
In Lebanon, a new crisis is looming over the country, threatening its insurance sector after some major European reinsurers have informed Lebanese insurers that they have stopped business with Lebanon. Source: Leb Economy
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Bilal Jarjour
October 25, 2024
KSA: 12M people insured in Saudi Arabia, market size hits SAR 40B
Saudi Health Minister Fahad Al-Jalajel said the private health insurance sector experienced significant growth, with its size reaching SAR 40 billion by the end of 2023. The number of insured people rose by the end of last year to about 12 million from 3 million in 2011, Al-Jalajel added during his speech at the Global Health Exhibition. Source: argaam
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Bilal Jarjour
October 25, 2024
Egypt: Cairo scored highest among 10 cities studied on ability to handle climate risk
Cairo is perceived as the most equipped to handle climate risks among 10 cities surveyed, with over a third of respondents (37%) rating it as “very prepared”, according to a new report by Economist Impact. Source: Middle East Insurance Review
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Bilal Jarjour
October 25, 2024
Algeria: Securities market regulator proposes allowing insurers to act as stock market intermediaries
The Commission for the Organization and Supervision of Stock Market Operations (Cosob), which monitors the securities market in Algeria, has proposed to public authorities to explore the possibility of insurance companies serving as intermediaries in the stock market. Source: Middle East Insurance Review
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Bilal Jarjour
October 25, 2024
Morocco: Regulator and insurance federation propose solution to issue of effective date of travel insurance policies
The Insurance and Social Security Supervisory Authority (ACAPS) has conducted in-depth discussions in consultation with the Moroccan Insurance Federation (FMA) on the implementation of new procedures relating to the effective date of travel insurance policies. Source: Middle East Insurance Review
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