Aviation accidents were high in 2024 and there are no final figures on insurance companies claims.
The International Air Transport Association (IATA) published its 2024 annual report on aviation safety, in which last year saw an accident occur every 880,000 flights, while the average for 2020-2024 was one accident per 810,000 flights. Source: تامين ومصارف
S&P Global expects strong profits for insurance companies in the Gulf in 2025
Credit rating agency Standard & Poor’s has predicted that 2025 will be another profitable year for GCC insurers. Source: بوابة التأمين الإقتصادية
Saudi Arabia: Challenges facing the Saudi insurance sector.
Saudi Arabia’s insurance sector continues to grow at the fastest rates among the GCC, but faces three significant challenges, led by the dominance of a few large companies in the market, while smaller entities struggle to withstand fierce competition, according to S&P Global. Source: Al Morakeb
22% expected increase in cyber insurance premiums during the current year
Insurance companies expect 22% growth in cyber insurance premiums this year to reach $21.6 billion. Source: المال
Saudi Arabia: Rapidly growing market with increasing concentration at the top
Premium growth in Saudi Arabia in recent years has been substantial, thanks to rapid economic expansion, rate adjustments, and the adoption of new mandatory covers, according to S&P Global Ratings (S&P) credit analyst Emir Mujkic. Source: Middle East Insurance Review
Syria: License to practice the profession of insurance broker
In Syria, the Minister of Finance – Chairman of the Board of Directors of the Insurance Supervisory Authority issued the decision no 14/25/100 dated 3/1/2025, which included licensing applicants to practice the profession of insurance broker (natural person). Source: Industry News
Morocco: ACAPS: insurance premiums exceed 59 billion dirhams
The Supervisory Authority of Insurance and Social welfare (ACAPS) reported that premiums issued by insurance and reinsurance companies amounted to more than 59.7 billion dirhams during the year 2024, achieving an increase of 5.3% compared to year 2023. Source: العمق المغربي
Algeria: Insurance sector turnover reached 163 billion dinars in 2023
The head of the Algerian Federation of Insurance and Reinsurance Companies, Ben Messa Youssef, confirmed that the insurance sector in Algeria has witnessed remarkable development in recent years, as its turnover reached 163 billion dinars in 2023, an increase by 137 billion dinars in 2020. Source: الشروق
The Financial Regulatory Authority (FRA) revealed the monthly performance report for the period ending 2024 for non-banking financial activities, where new investments of private insurance
AM Best’s ratings of (re)insurers in the Middle East and North Africa (MENA) have generally trended positively. This is despite challenging regional geopolitical conditions, says
S&P Global Ratings expects the UAE’s insurance sector to maintain a positive growth outlook in 2025, with the potential for growth of 10-20%, after recording
Premiums charged in the Compulsory Earthquake Insurance scheme are to be increased monthly, following new regulations issued by the Insurance and Private Pension Regulation and
Net insurance premiums for insurance companies in Tunisia reached TND3.82bn ($1.24bn) in 2024, up from TND3.45bn in the previous year, a 10.8% increase. Source: Middle
The insurance sector in Egypt achieved strong growth during 2024, as the total premiums collected increased by 27.9% compared to 2023, reflecting the expansion of