November 4, 2024
Morocco hedges against disasters with mandatory home insurance
Morocco has considered introducing compulsory housing insurance in a bid to mitigate the economic impact it faces when the country is hit by natural disasters, most recently last year’s earthquake. The Superintendency of Insurance and Social Welfare (ASWW), the government body tasked with monitoring the insurance sector and pension systems, has invited consulting firms to…
Read morePOSTED BY
Bilal Jarjour
November 4, 2024
Continuous adjustment of car insurance amounts is a necessity to face inflation
Experts confirmed that insurance companies face many challenges in light of being affected by economic and financial factors, including the change in the exchange rate of the currency, noting that the insurance company calculates the costs and risks of insurance based on expectations of future damages and the value of financial transactions, and when a…
Read morePOSTED BY
Bilal Jarjour
November 4, 2024
Reinsurers post 22% ROE in 2023, Helene & Milton to stall softening, says AM Best
Solid underwriting conditions, combined with a turnaround in unrealized losses drove reinsurers to a 22% return on equity (ROE) in 2023, states global ratings agency AM Best. Source: Reinsurance News
Read morePOSTED BY
Bilal Jarjour
November 1, 2024
Quantifying business interruption: Risk propagation in complex supply chains
Business interruption including supply chain disruptions have been among the top risks for most companies for over a decade. On average, supply chain disruptions cost organizations USD 184 million annually. Source: Swiss Re Institute
Read morePOSTED BY
Bilal Jarjour
November 1, 2024
Germany: E+S Rück anticipates further price increases and improved T&Cs at Jan 1
E+S Rückversicherung AG, the Hannover Re subsidiary responsible for German business, has indicated that further price increases and improved terms and conditions are likely at the January 1, 2025, property and casualty reinsurance renewals, following losses caused by severe weather events in the country. Source: Reinsurance News
Read morePOSTED BY
Bilal Jarjour
November 1, 2024
Egypt: IFE / The sector’s transition to confident claims management requires investment in AI
The Insurance Federation of Egypt stressed on the importance of insurance companies moving to confident claims management, and continuing to meet the evolving needs of their customers. Source: المال
Read morePOSTED BY
Bilal Jarjour
November 1, 2024
Saudi Red Sea Authority and Insurance Authority cooperate to launch Saudi Arabia’s first coastal tourism insurance product
The Saudi Red Sea Authority (SRSA) and the Insurance Authority have signed a cooperation agreement to launch insurance products covering risks associated with all coastal tourism activities through local insurance companies. Source: Maaal
Read morePOSTED BY
Bilal Jarjour
October 31, 2024
Algeria: Opening the activity of brokers in stock exchange operations to insurance companies in Algeria
The Commission for the Regulation and Control of Stock Exchange Operations (COSOP) has proposed to the public authorities to open the way for insurance companies to practice the activity of brokers in stock exchange operations, as part of the preparation of a preliminary draft on the financial market. Source:الشروق
Read morePOSTED BY
Bilal Jarjour
October 31, 2024
Jordan: Insurance premiums grow by nearly 5% to over US$850m in Jan-Sep 2024
Total insurance premiums in Jordan in the past nine months of this year amounted to JOD603m ($851m), an increase of about 4.9% compared to the corresponding period in 2023, according to statistics released by the Central Bank of Jordan. Source: Middle East Insurance Review
Read morePOSTED BY
Bilal Jarjour
October 31, 2024
Egypt: Insurance and brokerage companies are obliged to adopt the amendment of their articles of association in accordance with the unified law within a month
The Financial Regulatory Authority (FRA) has obligated insurance companies and sector-related activities to hold their Extraordinary General Assembly to amend their articles of association and basic purpose in accordance with the Unified Insurance Law issued last July, no later than early December. Source: اموال الغد
Read morePOSTED BY