October 17, 2024
Morocco: Takaful companies generate contributions of US$4.4m in 1H2024
Takaful generated contributions totaling MAD43.5m ($4.4m) in the first half of 2024, 50% higher than the MAD29m reported for the corresponding six months in 2023, according to data released by the Moroccan Insurance Federation. Source: Middle East Insurance Review
Read morePOSTED BY
Bilal Jarjour
October 17, 2024
Helene and Milton losses below $200m
Progressive, the property and auto-focused insurance group, has revealed that incurred property losses and allocated loss adjustment expenses (ALAE) related to hurricanes Helene and Milton did not exceed the $200 million retention. Source: Reinsurance News
Read morePOSTED BY
Bilal Jarjour
October 16, 2024
Egypt: Decisions to determine the capital of companies operating in the insurance sector will be issued soon
Dr. Mohamed Farid, Chairman of the Financial Regulatory Authority, stressed that we have a large insurance market with great capabilities and need more reforms. During his speech at the opening of the twenty-eighth African Reinsurance Forum, he explained that the Financial Supervisory Authority is implementing a comprehensive plan to reform the Egyptian insurance sector. Source:…
Read morePOSTED BY
Bilal Jarjour
October 16, 2024
Jordan: Proposals and recommendations of the Car Insurance Committee in the Jordanian Federation of Insurance Companies to deliver rights to their owners within the controls
The Executive Committee of the Motor Insurance Committee operating under the framework of the Jordanian Federation of Insurance Companies discussed, in a meeting at the General Administration of the Federation, the draft instructions for the principles and procedures for settling and paying claims resulting from vehicle accidents for the year 2024. Source: تأمين ومصارف
Read morePOSTED BY
Bilal Jarjour
October 16, 2024
Turkiye: Insurance professionals need more training in risk management
Professionals in the insurance sector do not receive sufficient training in risk management, in the view of Mr. Ceyhan Hancioglu, general manager of Magdeburger Insurance. Source: Middle East Insurance Review
Read morePOSTED BY
Bilal Jarjour
October 16, 2024
European insurers on track for solid FY24 results despite varied country trends
European insurance companies posted strong results in 1H24, driven by favorable interest rates and pricing cycles, despite varied national trends, according to Fitch Ratings. Source: Reinsurance News
Read morePOSTED BY
Bilal Jarjour
October 15, 2024
Floods, blackouts and gas shortages: Florida faces headwinds in the wake of hurricanes Helene and Milton
(CNN) – On a dark night, a fierce storm gave Florida a sharp blow to the head. Less than two weeks later, another tore through its heart. Source: CNN
Read morePOSTED BY
Bilal Jarjour
October 15, 2024
Egypt: FRA is examining mechanisms to expand the base of beneficiaries of non-banking services
Dr Mohamed Abdel Aziz, Assistant Chairman of the Financial Regulatory Authority, held an extensive meeting with representatives of a large number of non-banking financial institutions licensed by the Authority to practice non-banking financial activities. Source: أموال الغد
Read morePOSTED BY
Bilal Jarjour
October 15, 2024
Reinsurers expect stability during renewals next January
International reinsurers, led by Germany’s Hannover Re, expect next January’s renewals to be stable and under the same conditions as last year, supported by reinsurers’ growing profits. Source: المال
Read morePOSTED BY
Bilal Jarjour
October 15, 2024
Middle East: MGAs grow at pace
In the Middle East, there is a highly active MGA market in Dubai in the UAE, through the Dubai International Financial Centre (DIFC), where MGAs are playing a key role in the growth of the wider insurance market in the region, according to Global Insurance Law Connect (GILC), a network of specialist insurance law firms.…
Read morePOSTED BY