Türkiye: Neova maintains lead in participation insurance market
Neova Katilim Sigorta maintained its leadership in the participation insurance (takaful) market with a contribution volume of TRY6.6bn ($170.8m), representing a 41.2% market share, in the first quarter of this year, according to data released by the Insurance Association of Türkiye (TSB). Source: Middle East Insurance Review
Uzbek insurance sector’s rapid growth driven by riskier business
Rapid growth in the Uzbek insurance sector is being driven by business lines with significant underwriting risk, which could lead to volatility in insurers’ financial performance, Fitch Ratings says. Source: Fitch Ratings
Egypt: Alaa El-Zohairy: a plan for insurance companies to raise awareness
The Insurance Federation of Egypt has taken serious steps to raise insurance awareness in the Egyptian market, with the aim of reaping the benefits of the legislative developments witnessed by the industry. Source: أموال الغد
Oman: Regulator says insurers are required to provide coverage for EVs without exclusion
The Financial Services Authority (FSA) has issued a circular to the CEOs and general managers of insurance and takaful companies pressing home the message that they cannot refuse to insure electric vehicles (EVs) or renew the motor policy as long as the vehicle satisfies the stipulations stated in the Traffic
Insurers face increased regulation for life business, climate and AI
Global insurers face rising regulatory costs linked to structural shifts in the life sector, and to climate change and artificial intelligence (AI) as industry supervisors intensify their response to mounting risks. Source: FitchRatings
MENA: Call made to expand coverage of successful Arab cross-border vehicle insurance scheme
The Tunisian Federation of Insurance Companies (FTUSA) has called on the General Arab Insurance Federation (GAIF) to study a proposal to extend the Orange Card’s insurance coverage. Source: Middle East Insurance Review
UAE insurance industry to consolidate and grow further
In the UAE, further market consolidation is likely in 2025, especially if those listed insurers currently under regulatory scrutiny for not meeting solvency capital requirements fail to recover within the specified timeframe, Fitch Ratings says in a new report. Source: FitchRatings
UAE: 3 cases allowing ins companies not to issue comprehensive cover
In the UAE, the Central Bank has authorized insurance companies not to issue comprehensive insurance policies in specific cases (three cases only). Source: الخليج
The insurance sector has witnessed a digital wave that reshaped its traditional structure and rearranged its operational priorities. Source: المال
The Ministry of Culture has signed a Memorandum of Understanding (MoU) with the Insurance Authority to cooperate in preserving cultural assets and promoting the cultural
Neova Katilim Sigorta maintained its leadership in the participation insurance (takaful) market with a contribution volume of TRY6.6bn ($170.8m), representing a 41.2% market share, in
Rapid growth in the Uzbek insurance sector is being driven by business lines with significant underwriting risk, which could lead to volatility in insurers’ financial
The Insurance Federation of Egypt has taken serious steps to raise insurance awareness in the Egyptian market, with the aim of reaping the benefits of
The Financial Services Authority (FSA) has issued a circular to the CEOs and general managers of insurance and takaful companies pressing home the message that