Arab Reinsurance Company: a new dimension
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KSA: Insurance Authority officially begins work - Governor of SAMA congratulates the Insurance Authority - Property Catastrophe Reinsurance Market Dynamics to Slow in 2024 - Kuwait: Ins companies to provide the IRU with statistics on “life and money sources” - Egypt: FRA issues the August 2023 report - KSA: Amended comprehensive motor insurance rules take effect - KSA: Merger of "Alinma Tokyo Marine" & "Arabian Shield Insurance" - Turkiye: Insurers expect sharp hikes in premiums in 2024 - Egypt: FRA issues a circular prohibiting insurance companies from collecting premiums from brokers - SAMA Governor honors two insurance companies for smooth merger - SAMA licenses online reinsurance brokerage company - Morocco: 8 Sep quake is first event declared a disaster under special CAT insurance scheme - Solidarity Bahrain is preparing to acquire Al Hilal Life and Al Hilal Takaful - Fitch Affirms Misr Insurance Company's National IFS at 'AA+(egy)' - AM Best affirms the rating of GIG Kuwait - Turnover increase for Algerian insurers in H1 2023 - In Kuwait, the Insurance Regulatory Unit issues its report (2022/2023) - Hannover Re anticipates improved global reinsurance market terms to reflect rising loss costs - Algeria: Insurance industry grows by 4.3% in 1H2023 - Marine insurance coverage instructions take effect - Lloyd’s systemic risk scenario reveals global economy exposed to $3.5trn from major cyber attack - Stopping “insurance” on ships coming to Lebanon: Food in danger?! - KSA: The merger with Enaya would lead to a strong entity with a capital of 592 million riyals - Algeria: Local brokers lobby regulator to open up international reinsurance business - Oman: CMA Announces Implementation of IFRS 17 (Insurance Contracts) - Egypt: 68.1 billion pounds, total financing granted by entities subject to the supervision of FRA - Egypt: FRA completes the development of the Egyptian actuarial life tables - Saudi Arabia: Marine insurance coverage instructions take effect - After raising rates due to natural disasters, reinsurers considering same due to political violence - Palestine: Israeli aircraft destroy the headquarters of Trust International Insurance Company - Türkiye: Regulator focuses on Nat CAT and sustaining market growth - Egypt: FRA: 141.9 bn EGP as assets of private insurance funds - KSA: Insurance industry KSA Q2-2023 - In Syria, the ISC issues a report on the insurance companies’ performance during H1 of year 2023 - Middle East: Events in Gaza cast a shadow over Arab insurance markets - African non-life reinsurance premiums continue to grow in 2022 - Algeria: AM Best Affirms Credit Ratings of Compagnie Centrale de Réassurance - SAMA seeks public consultation on draft amendment of comprehensive motor insurance rules - UAE Insurance companies performance - Egypt: FRA gives insurance companies up to 3 years to comply with the new rules of governance - Egypt: 17.6 bn EGP as insurance premiums in Q2 of year 2023 - Turkiye: high reinsurance premiums are inevitable in 2024 - Oman: steady growth in health insurance performance - Rising climate risk calls for industry and government collaboration: Moody’s - Kuwait: The Insurance Regulatory Unit issues 4 decisions - The complete indicators of the insurance market in Oman - FRA Egypt requires insurance companies to prepare studies for indicative pricing of their products - UAE: DIFC heading towards achieving growth in the no of insurance cos - Morocco earthquake set to trigger XoL payouts on EV CAT nat cat pool - UAE: 15% growth in profitability of the 10 largest insurance companies for H1 - KSA: SAMA licenses two insurance aggregation companies - Improving profitability in non-life insurance set to fortify its vital role as a shock absorber - The Gulf insurance sector is ready for mergers and acquisitions - Egypt's insurance federation chief estimates Morocco quake to cost insurers US$300m - Morocco quake: death toll rises to 2,901 - Bahrain: insurance market sees gross premiums rise to $402m in H1 - Earthquake death toll rises to 2,122 - GWP down 4.5% in 2022 - The Central Bank of Jordan: New instructions and regulations for insurance sector end of year 2025 - Saudi Arabia: 3 factors pushed the insurance sector to a historic level - 2023 Arab Re rating - Central Bank of Egypt: Net profits of insurance companies rise to 8.2 bn EGP - Egypt: Insurance association studies disaster bonds - Algeria: Public slow to embrace disaster insurance - Earthquake death toll rises to 2,122 - GWP down 4.5% in 2022 - The Central Bank of Jordan: New instructions and regulations for insurance sector end of year 2025 - Saudi Arabia: 3 factors pushed the insurance sector to a historic level - UAE Listed insurance companies performance analysis - Oman: Listed insurers report rise in premium income in 1H2023 - Best’s Market Segment Report: Dedicated Reinsurance Capital Fluctuates Amid Volatile Market - 49.1 m KWD as profits of listed insurance companies in H1 - Saudi Arabia: funds of the “Insurance Authority” could be invested to ensure sustainability - Oman: 3.5m OMR as total profits of insurance companies in H1 - FRA: 11.46b EGP in new investments for private insurance funds - Munich Re ranked largest reinsurer for third year running by AM Best - Sigma 3/2023 - World insurance - SAMA Governor extends gratitude to Leadership for cabinet’s approval - Insurance companies achieve 35.7 billion pounds as premiums, with a growth rate of 28.9% - Tunisia: Listed insurers post 5% higher combined premium income in 1H - Sources: Suez Canal Insurance inspects the tug "Fahd" - Turkiye: Currency fluctuations pose additional complication in 6 Feb quake claims - UAE: DFSA signs anti-money laundering MoU - Swiss Re: Severe thunderstorms account for up to 70% of all insured natural catastrophe losses - Turkiye: Health insurance leads industry growth in 1H2023 - UAE: "Salama" and "Takaful Emarat" decide to end the merger talks - Egypt: Insurance companies pay claims at 13.3 bn pounds - Investments of private insurance funds amounted to EGP 2bn during May - SAMA approves insurtech rules - Turkiye: Weakening local currency hits insurance agencies - Oman: 1.2% contribution of the insurance sector to the GDP - Kuwait stock exchange rises marginally, with the support of the insurance and consumer service - Oman: 831.9 m riyals total funds invested in the insurance sector - Best's Market Segment Report: Egypt’s Insurance Market Grows in Spite of Difficult Economic - Morocco: Insurance sector remains a "price" market - SAMA approves the merger of Al-Khaleej Al-Ahlia and Al-Saqr Insurance - Reinsurance market report for full-year 2022 by Gallagher Re - UAE: Insurance sector's solvency nearly 2 times of the required minimum at end-2022 - Recent trends in marine insurance - Lloyd’s performance & capital strong, market positioned to meet challenges: Aon - SAMA licensed Saudi mortgage guarantee services company “DHAMANAT” - UAE: Hamdan bin Mohammed: Securing our digital space is one of our top priorities - The FRA issues 3 decisions to start the process of digital transformation - Egypt: Insurance premiums grow by 29.8% - UAE: Average medical premiums double in 2022 - Turkiye: Reinsurance capacity expected to shrink, premiums to skyrocket - Morocco: Bill drawn up to amend legal provisions relating to insurance distribution - FRA: EGP 1.8 bn as investments of private insurance funds during last February - Saudi Arabia: SAR600M as profits from the insurance sector during Q1 - Saudi Arabia: Vision 2030 strategy to open up huge opportunities to insurers - Aon released its Global Market Insights Report for Q1 year 2023. - Increased pressure from reinsurers to place cyber separately at renewals: Gallagher Re - UAE Listed insurance companies performance analysis Q1 2023 - Financial Regulatory Authority: Committee to settle disputes of insurance companies - Reinsurance market sees orderly renewals at mid-year - Algeria: Proposal raised for motor insurance pricing scale - Swiss Re expects the growth of "property" and "life" branches - AED 128.3 billion, the assets of the insurance sector in the UAE at the end of Q1 - GAIF: establishing a regional pool to gather underwriting capacity in the region - Turikye: CAT pool to establish regional offices - Syria: Meeting of the IFRS17 implementation committee in the Syrian Insurance Federation - AM Best Releases Revised Criteria Procedure: ‘Best’s National Scale Ratings’ - SAMA: Saudi economy grew in 2022, supported by resilient financial system - Tunis: the insurance sector's turnover increased by 7.5% during the first quarter of 2023 - Over $150bn in fees and commissions earned from insurance broking activity in 2022 - Bahrain: 23.43m BHD as profits of 5 joint-stock insurance companies - The UAE tightens insurance requirements for ships flying their flags - IFE: Catastrophe risks are a priority - Reinsurance support plays a large role in the cyber insurance market: Moody’s - Qatar: Listed insurers show net profit jump of over 50% in 1Q - 2023 Aqaba Conference website allows the download of lectures - Kuwait: The Insurance Regulatory Unit licenses 10 entities and persons - Reinsurance rate hardening continues – report - Turkiye: Insurance regulator draws up new road maps with lessons from 6 Feb earthquake - Saudi Arabia: merger of Saudi Enaya & UCA - IFE: AI and disaster risk reduction - GAIF: renewal of Mr Chakib Abouzaid mandate for 4 years - Saudi Arabia: merger of Saudi Enaya & UCA - Turkiye: Disaster pool reviews proposal to double Nat CAT insurance coverage - Algeria: Govt working to develop parametric insurance - Turkiye: Several reinsurers announce 6 Feb quake losses - Jordanian insurance market in 2022: premiums per class of business - Kuwait: 21.5 KWD “insurance” profits for the Q1, a growth of 24.5% - A fine of up to 2 million riyals for practicing insurance business without license in Saudi Arabia - Wide variation in impact of IFRS17 on re/insurers: AM Best - Egypt: Insurers face several challenges in implementing IFRS17 - SAMA: Insurance sector grew by 26.9% in 2022 - Morocco: Insurance industry posted combined profits of US$430m in 2022 - Regarding "insurance policies"... important news by the Minister of Economy - SAMA seeks public consultation on draft marine insurance coverage instructions - Insurance companies achieved 11.4 bn pounds as premiums in two months - Saudi Arabia: 26.9% growth in the insurance sector in Saudi Arabia during one year - CMA in the KSA extends the deadline for insurers to disclose the results of Q1 2023 - The cost of insuring against the risk of default on Egyptian debt is rising - Munich Re launches ‘innovative’ coverage for AI solutions - MENA: Oil & Energy Insurance Syndicate posts adequate profitability - UAE: Insurance policies will rise to 8.8 million in 2022 - AM Best Comments on Credit Ratings of Gulf Insurance Group - Reinsurance outlook to improve as investment volatility eases: Aon - Egypt: Financial results of global reinsurance companies for 2022 - Aon estimates global insured catastrophe losses in Q1 2023 at $15 billion - GCC Listed Insurers: Net Combined Ratio contained at 98.9% by record growth - Dubai's Sukoon Insurance gets UAE Central Bank go-ahead to buy Arabian Scandinavian Insurance - A special deal between Kipco and Fairfax - Reinsurance market posts 10-year record for 2022 – report - Saudi Arabia: health insurance to reach $10 billion by 2028 - Marsh publishes the: “Political risk report 2023”. - Lebanon: Al-Abyad announces new projects with insurance companies - An agreement between the Lebanese Order of Physicians - Beirut and TPAs - President of IFE: Raising interest rates is a major step to reduce inflation - Reinsurers maintain discipline at challenging April renewal: Gallagher Re - Gulf Insurance Group to acquire AIG Egypt - Syria: The Ministry of Finance holds a meeting to discuss the role of the insurance sector - Damages of the recent earthquake in Turkey are on the way to reimbursement - Japan finances the health insurance project in Egypt with $335.5m - Insurance companies achieved EGP 14.5 bn as premiums in 3 months - Syria: A new board of directors for the Syrian Federation of Insurance Companies - IFE tracks company losses - Lebanon: A responsibility among physicians and insurance companies... and the citizen suffers! - UAE: 6.5% growth of insurance written premiums by end of 2022 - The Aqaba Conference Committee publishes the names of the participants - UAE: Auto insurance prices remain below floor set by regulator despite price hikes - Global insurance market to remain hard driven by increased demand and inflation - The Saudi General Authority for Competition approves the merger of “Enaya” and “United Ins.” - IFE holds a workshop on the "Insurance market in Egypt" - Interview with the Secretary General of the Syrian Insurance Fed. New articles of association - Turkiye: Financial loss arising from 6 Feb earthquakes estimated at 'shocking' total of over US$103b - Preparations for the Gaif in its 34th version have begun… - Egypt: 18.3% growth in insurance premiums - In Egypt, assets of insurance companies rise to 178.4 bn pounds - UAE: AM Best: Intense price competition reduced the profitability of insurance companies - Lloyd’s to report improved underwriting result but investments drive full year loss - Morocco: Insurance regulator establishes Innovation & Insurtech unit - UAE: DIFC hosts DWIC - Jordan: 8.2% increase in premiums for insurance companies last year - GCC insurers benefit from strong premium growth - In Syria, did the earthquake hit the insurance sector? - In Lebanon, hospitals towards raising tariffs on ins cos - AI must be integrated into underwriting and claims processes: Munich Re’s Greene - Saudi Arabia: "Comprehensive policy"... obligating insurance companies to pay total claims - After Turkey's devastating earthquake... Lebanese are buying home insurance - S&P: Insurance premiums grow by 20% in Kuwait - GAIF announces the establishment of the Arab Actuaries Association - The UAE insurance sector maintains first rank in the Arab world - In Lebanon, compulsory insurance in fresh US$ - World Bank: $34 bn as Turkey earthquake damages - Reinsurance Recap: 2022 Results Mixed as Market Improves - Munich Re downsizes retro program for 2023 - Turkey earthquake economic losses by Moody’s - Lebanon: Crisis and the health sector coverage - Morocco: Life insurance sector poised to grow - Egypt: The insurance sector and the growth during 2023 - The Insurance Federation of Egypt and the intellectual property coverage - Earthquake risks and the role of the insurance industry in facing natural disasters - Merger of "Oman Qatar Insurance" and "Vision Insurance" - Reinsurance business faces restructuring amid hardening market - Fitch Affirms Tunis Re's National IFS at 'AA(tun)'; Outlook Stable - Insurers' body announces measures to ease plight of policyholders and agencies in quake region - Reinsurance: $130 bn expected claims due to natural disasters - SAMA: first branch of a foreign insurance company licensed in the Kingdom - The state is without money; however insurance companies are ready - Turkey earthquakes could result in $1bn+ loss - Munich Re announces cyber risk management program - SAMA: Officially the insurance sector applies IFRS 17 and IFRS 9 - MEA reinsurers: ranking according to 2021 turnover - Syrian insurance companies: 2021 ranking - The list of reinsurers allowed to operate in the Egyptian market has increased to 299 companies - Lebanon: Only 400,000 person have insurance policies - Morocco: Regulator to establish insurance distribution gauge - In Egypt, FRA amends the licensing conditions for Takaful - The Egyptian economy is expected to grow by 5% in 2023 - Reinsurance: Sector introduces Open Exposure Data (OED) Standard for risk modelling - In Jordan, a modern insurance contract law - Al Qahera News presents a report on ins. claims in 2022 - Traffic accidents are diminishing in Saudi Arabia, but insurance rates are rising - In Egypt, FRA approves the registration of a new Chinese reinsurer - Natural disasters caused over $130bn global insured losses in 2022: Aon - Hannover Re Transfers Cyber Risks to Capital Markets via Proportional Reinsurance - Global: Calculation differences hinder comparisons of IFRS 17 results - UAE: 3 listed insurance companies are considering merging - In Egypt, FRA regulates credit insurance - Syria: The Insurance Supervisory Authority monitors the insurance sector - Saudi Arabia: Regulator allows third parties in a motor accident to opt for cash payout - Insurance companies achieved 47 bn pounds as premiums - Reinsurers must seek new opportunities & reprice amid climate pressure: Moody’s - Turkiye: Insurance association proposes changes to insurance rules and operations - Morocco: Takaful companies offer around 60 products in nascent market - Reinsurers’ underwriting margins expected to improve in 2023, says Fitch - In the black sea: some companies stop insurance and prices up by 20% - $270 bn as natural disaster losses - Egypt: The flexibility of the exchange rate contributes to providing liquidity in the market - Saudi insurance sector remains strong, posts 27% growth in Q3 - Egypt: Regulator publishes new rules for supplementary motor insurance branch - Tunisia: Insurance market to see significant momentum in reform - Intermediary Reinsurance Broker Ltd launched in Iraq - Launch of the Risk Management Certificate for insurance and reinsurance professionals in Lebanon - Reinsurers' expectations for the January 1, 2023 renewal - Pricing of reinsurance programs for year 2023 - Global reinsurance market: main indicators 2017-2021 - Lebanon: Payment in fresh $ exclusively... Insurance companies will raise prices - Saudi Arabia: United Cooperative Assurance is considering merging with Saudi Enaya - Egypt: Insurance companies bet on treasury bills to maximize returns - Growth of takaful in Morocco - Kuwait: The insurance regulator licenses 3 brokers - Morocco: Regulator says work to revise insurance law is progressing well - UAE: Central Bank to activate the account requirements for insurance companies’ premiums - ‘Droves’ of Global Re Market Entrants Unlikely; Outlook Stable: AM Best - Egypt: Launching a new Takaful insurance co. - Life - Increasing the spending on digital transformation globally by 700% in insurance - Munich Re estimates 2022 storm losses at $110bn, of which $65bn insured - Substantial changes in war reinsurance programmes possible in 2023: Gallagher - Fitch Ratings confirms the rating of Misr Insurance Co. - 90m EGP as insurance premiums by “Apex Egypt” - 3rd Libya International Insurance Forum - 25 b health insurance sector growth - Lloyd's market: main indicators 2017-2021 - Moody’s affirms the rating of "Kuwait Insurance" - Oman: 33 m OMR as insurance premiums - UAE: DIFC Insurance Association's new CEO assumes office on 1 Dec - 16th RDV de Carthage Insurance and Reinsurance - GCC: Insurance performance as at 30/9/2022 - Reinsurance market: 2023 renewal - MENA: rating of main regional reinsurers - United Insurance Company raises its paid-up capital - Saudi Arabia: SAMA launches a training program for finance in the insurance sector - Egypt: The Egyptian Insurance Federation reveals the contribution of the insurance sector - S&P’s downgrades SCOR rating - Kuwait: The right to buy or sell the shares of Kuwaiti Re - Asia Pacific: Life insurance business in advanced markets expected to fall - UAE: Insurance association maintains it upholds regulatory agenda amidst talk of motor insurance - Oman: Regulator revamps 13 online services in insurance sector - Lebanon: a meeting around impacts on insurance companies - Saudi Arabia: SAMA issues comprehensive motor insurance rules - FRA renews the registration of Sky Insurance Brokers - The Insurance Federation of Egypt addresses to approve insurance of electric cars - JOIF hosted an Arab symposium to discuss topics related to compliance - Jordanian insurance market: increase in net profit as at September 30, 2022 - 3 workshops in cooperation with reinsurance companies and Gaif issued an electronic bulletin - Tunisian insurance groups: ranking according to turnover in year 2021 - 2021 ranking of the best reinsurers in the world - Top 100 - Top 20 insurance and reinsurance brokers - Bahrain insurance market in 2021 - Saudi Arabia: Listed insurers' combined GWP surges but net profit stays flat for first 9 months - New car insurance regulation in Saudi Arabia - Saudi Arabia: Mr Mohammed Bin Abdullah Al-Sudairy assigned as CEO of "Gulf General" - Egypt: Comprehensive medical coverage - GCC: Economies in the region set to get extra boost from FIFA 2022 World Cup - Syrian insurance market: results for the first half year 2022 - Misr Insurance Co.: capital increase - AM Best confirms the rating of SNIC Insurance - Libya: Parliament approves amendment to the health insurance law - Rise of rainfall and flooding in 2022 - Saudi Arabia: Central Bank issues Comprehensive Motor Insurance Rules - Jordan: 19 insurers post combined net profits of over US$26m in first 3 quarters of this year - Bahrain: Central Bank plans to issue ESG disclosure guidelines in 1H2023 - Lebanon: The “customs dollar” - Syrian Insurance Sector Report (First Half Year 2022) - Kuwait: proposal to cancel the insurance unit - Top 5 reinsurers in the world: equity 2021 - Podium of Algerian insurers in 2021 - Conclusion of merger: Walaa and SABB Takaful - Morocco: e-status in Motor insurance - Insurance companies pay EGP 17.47 bn - Liquidation of four Jordanian insurance companies - Insurers to expect low premium income growth in 2023 - Oman: The no of nationals insured in the private sector increased by 8.1% - Jordan: Meeting of the International Federation of Takaful and Islamic Insurance Companies - FRA: renewal for Trust Reinsurance Brokerage - SAMA: Saudi Re expects more than 5% increase in business from new reinsurance cession requirements - UAE: Employers can opt for insurance to cover their liabilities to workers - Taxes on life insurance contracts in Morocco - Top 10 non-life insurance markets in 2021 - The Egyptian insurance market - Lebanon: Actuarial challenges - Morocco: Increase of premiums by 6.2% - Bahrain: Asiri: Life insurance premiums amounted to 52 million dinars - Egypt: rising interest rates positively affects the economy - A seminar on “Lebanon’s management of the healthcare sector in light of the economic crisis” - Assurances Maghrebia Vie: IPO - FRA in Egypt discusses with reinsurers mechanisms for developing the sector's products - Insurance Federation urges companies to use technology - Bahrain: stable results in the insurance sector - Preparing for the 9th Aqaba Conference - Egypt: Insurers look forward to more business on introduction of new car import scheme - Egypt: FRA signs a memorandum of understanding with the Moroccan Authority - Saudi Arabia: Govt outlines scope of coverage of compulsory Umrah insurance policy - Exports to Sub-Saharan Africa: the Tunisian State covers 50% of insurance premiums - Asian reinsurers looking to expand in the Egyptian market - Saudi Arabia: Merger of SABB Takaful with Walaa Insurance - Kuwait: Authorization to 11 brokers - High inflation and Nat CATs call for disciplined risk management, says Munich Re - CMA approves Bupa Arabia capital increase - Egypt: Compulsory Motor insurance pool pays $3 m as claims - Moody's downgrades SCOR's outlook - MENA: Reinsurance capacity in the region continues to be highly changeable - AM Best confirms the rating of CCR Algeria - MENA: need for a regional natural catastrophe insurance pool - Reinsurers ranking in 2021 - Africa non-life insurance market in 2021 - UAE: Aman to pull out of insurance operations to become holding co - Turkiye: Surety insurance starts to grow shoots - Tunis insurance market in 2021 - AM Best confirms the rating of GIG Egypt - CIMA zone: insurance density and rates by country in 2020 - AM Best confirms GIG Jordan's rating - Oman Insurance Company becomes Sukoon - Oman: Insurance market expands by 10% in 1H2022 - Egypt: 3 companies competing to insure Telecom Egypt - $120 bn economic losses insured globally last year - Decline in demand and rise in interest rates: challenges for the insurance sector - Global average annual insured losses from extreme events in excess of $120bn: Verisk - Qatar: Mandatory health insurance premium for visitors announced - Turkiye: More farmers are buying agricultural insurance - Egypt: cabinet proposes cooperation with the insurance sector - Insurance: highest CEO or GM salaries, year 2020 - An insurance expert: for the establishment of a brokers’ federation - Egyptian insurers urged to raise rates - AM Best: negative outlook for the SCOR group - Merger between SALAMA and Takaful Emarat - Saudi Arabia: Motor insurance coverage does not exceed 50% - Bahrain: BIBF launches a professional certificate in insurance - Egypt: Russia-Ukraine war and Corona affected the insurance sector - Qatar: Top insurer and leading investment bank form joint venture - Saudi Arabia: “SAMA”: Consumers pay 27.22 million riyals per day to insure their vehicles - Emirates: An upcoming merger of three insurance companies - Tunisian insurance companies: 2021 ranking - Egyptian insurance market in 2021: turnover by branch - Partnership between SCR and AIG - Saudi Arabia: Minister of finance: a new regulator for the insurance sector soon - Kuwait: “Insurance Regulation”: 24 companies licensed to provide compulsory car insurance in Kuwait - Financial Sector Development Program: Saudi Arabia aims to increase the per capita insurance share - Partnership between Sanlam and NAPS - Middle East: NLGIC Group announces C-suite leadership team - Outstanding growth in life in Egypt - Saudi Arabia: insurance market to be difficult if the companies do not merge - Proposed merger between Al Sagr and Gulf Union Al Ahlia - UAE: Financial regulators host cyber risk supervisory college - Turkiye: Vehicle insurance premiums more than double - Egypt: The Insurance Federation restructures the general committees for a period of 4 years - Preparations for launching a reinsurance company in the UAE - Turkiye: Demand for supplementary health insurance soars - Egypt: Insurers renew calls for customers to reassess insured asset sums amidst rising inflation - Union Financière Holding increases its stake in Assurances Maghrebia - The Central Bank achieves the target number of appointments - Global marine insurance premiums rose by 6.4% between 2020 and 2021 - Non-life insurance market in the Middle East: 2021 premiums by country - 2021 Algeria insurance market: Turnover by branch - AM Best downgrades credit ratings of Milli Re - Turkey: 3rd FAIR Reinsurance Forum - Jordan: Joint meeting between JOIF and the Central Bank of Jordan - Wafa Assurance: Badreddine Belghiti at the head of the Assurance des entreprises pole - Insurance partnership between KSA and UAE - Algeria: SAA obtains ISO 9001 version 2015 certification - UAE: Emirati insurance market large enough to have its own major reinsurer - Oman: Govt to roll out compulsory private health insurance in phases in 2023 - Oman: OMR 723.2m, total investments of insurance companies - Jordan - Takaful tackled in the Arab Thought Forum - Underwriting margins to improve in 2022 and retrocession use remains steady: S&P - French re/insurers face unprecedented nat cat losses: Fitch - Lebanon - AM Best affirms rating of Arab Reinsurance Co. - M&A’s in insurance: main mega-deals concluded in 2021 and early 2022 - UAE listed insurance companies’ performance - Saudi Arabia - Bringing health insurance into the future - Tunis - Departure of Mr Abderrahmen Fatmi, former Director of Insurance at the Ministry of Finance - Jordan statistics - Growth in life in Egypt - Insurance: M&As witness the strongest growth since 10 years - Jordan - For the first time in the history of JOIF… Aqaba Conference to be held for the 2nd year - Jordan – Election of the Executive Committee (Fire, General Accident and Engineering) - UAE: Written premiums rise by 8% during the first half of 2022 - Egypt - Bulletin of the Insurance Federation of Egypt no 253 - Lebanon: Latest report of the Insurance Commission - Egypt: 2021 ranking of insurance companies in Egypt - Change in the top 10 reinsurers in 2021 - Bahrain: CBB directs all insurance companies - Egypt: "Suez Canal Insurance" records EGP1.3bn - Jordan: IFRS 17 - Fitch: Reinsurance rates to increase - Kuwait: Insurance Regulatory Unit suspends 3 companies - Lebanon: New CEO of Allianz - Ajman: Sheikh Ahmed Al Nuaimi issues a decision to amend the health insurance system - Qatar: Merger of Doha Ins. and Kuwait Ins. - Egypt: Restructuring the BOD of the Egyptian FRA - Egypt: Libano-Suisse Takaful targets EGP450m of premiums - Saudi Arabia: Saudi Enaya's shareholders vote against winding up - Algeria: Insurers call for changes/Nat CAT insurance - The dollar increase amplifies the insurance claims’ invoice.. - Kuwait: Insurance market shows modest growth in 2021 - Moroccan insurance market: 5.3% increase in 2022 half-yearly premiums - Predictive analytics: changing the business rules in the insurance market - UAE: Conglomerate mulls setting up a reinsurance company - UAE insurance companies ranked first in terms of premiums - A regional reinsurance hub in the making - Kuwait: 16% profit increase in insurance - FAIR: Increase in Pools’ premiums to $82.8m - SCR: Fitch Ratings confirms AAA rating with stable outlook - UAE: Conventional insurance business outpaces takaful in premium and profit growth in 1H - Best’s Market Segment Report: Reinsurers See More Stable and Improved Results - Intense competition will continue to weight on Islamic insurers’ earnings: S&P - Insurance premiums jump to $7 trillion and inflation reduces results - UAE: 5 most profitable insurers capture 86% of combined profits of listed insurers - Saudi Arabia: Kingdom's sole reinsurer shows improved technical results for 1H - MENA: GAIF outlines scenarios for the development of the Arab insurance market - GCC: Takaful sector's net earnings expected to remain modest in 2022-2023 - Reinsurance: Canada Life Re is the 1st life reinsurer to be among world's top 4 reinsurers - Turkiye: Over 9m residential properties lack quake insurance - Munich Re Keeps No. 1 Spot in Ranking of 50 Global Reinsurers, With Swiss Re at No. 2 - London Workers Could Save Money by Returning to Offices as Bills Soar: Research - Australia’s Extreme Climate Risks Threaten to Make Home Insurance Unaffordable - Global reinsurance maintains “prudent approach” to claims reserving: AM Best - Insurance industry hit by rising digital fraud in H1 2022 - UAE: Insurance market to expand by 5% this year in terms of GPW - Turkiye: Insurance sector's GWP soar by 93% in 1H in nominal terms - Egypt: Regulator studies requiring insurers to maintain minimum level of investments - Dutch Insurer NN Group’s H1 Profit Slips on Impact of Storm Claims - Weakening UK Regulators Would Undermine Financial Services, Bank of England Warns - Inflationary recession to impact insurance demand, drive claims costs higher: Swiss Re Institute - Kuwait: Reinsurer posts US$13m in 1H net profits - Zurich Insurance Reports 25% Increase in H1 Operating Profit, Beating Expectations - Cowbell Cyber links up with Swiss Re - UK Insurer Aviva Posts 14% Rise in H1 Operating Profit - Morocco: Govt to recommend tax surcharge on oligopolistic sectors - Wildfires Rage in France, Destroying Homes, Forcing Evacuation of Residents - UK Financial Services Firms Suffer From Record Skills Shortage - Malaysia’s non-life insurance segment outlook remains stable: AM Best - Saudi Arabia: Insurance market forecast to grow by 5-10% this year - 6th Saudi Insurance Symposium to spotlight compulsory insurance, innovation & growth - Lebanon: Insurance regulatory reform in limbo because of political deadlock - Reinsurance: Munich Re posts profit of US$1.4bn for 1H2022 - Insurers Get Safety Assurances for Ships Exporting Ukraine Grain Through Black Sea - More Grain Ships Safely Depart From Ukrainian Black Sea Ports - Arthur J. Gallagher & Co. Acquires UK Risk Management Consultant, Another Day - Central Bank of Ireland launches climate change risk guidance for insurance sector - Egypt: Life insurers to start using first set of local actuarial life tables in Oct - Malaysia to Offer Crop Insurance to Strengthen Food Security - Berkshire Hathaway reports strong Q2 2022 P&C reinsurance result - Lebanon: Non-life & life insurance sectors face several constraints - Saudi Arabia: Health insurer posts 16% fall in pre-zakat net profit to US$114m in 1H2022 - Global insurance premium volumes to reach new high in 2022 - Aon’s Reinsurance Solutions names WTW’s Becky Allison as COO of STG - South Africa: Central bank says insurers need to strengthen risk management - India: Regulator consolidates and updates anti-money laundering guidelines for insurers - Global Insurtech Investment Down 50% in Q2: Gallagher Re - London Insurance Sector Readies $50M Ukraine Grain Cargo Cover - Swiss Re launches catastrophe bond focused investment adviser - Egypt: Motor insurers eyeing 10% increase in premium income - Lloyd’s Insurer Hiscox to Provide Insurance for Ukraine Grain Shipments - $170bn of global insurance premiums at risk by 2027, research suggests - Lebanon: 2 years after Beirut Blast, operating environment remains tough for (re)insurers - Morocco: Insurers' counterparty risk remains under control - French Insurer AXA Posts 3% Rise in H1 Net Profit - Floods, Storms Drive Global Insured Catastrophe Losses of US$38B in H1 2022: Swiss Re - Société Centrale de Réassurance’s expansion cited as rating affirmed - Saudi Arabia: Central Bank approves merger between SABB Takaful and Walaa Insurance - Lloyd’s and Aon report reveals the highly interrelated risks of Ukraine conflict - Global Commercial Insurance Rates Rise 9%, Continuing Moderating Trend: Marsh - Global Claims Review 2022 - AXA tops list of largest EU insurers ranked by GPW - Global Natural Disasters Cost Insurers $34 Billion in H1 2022: Munich Re - Swiss Re returns to profit but H1 net income falls on investment result & Ukraine reserves - Motor insurance premiums lag claims inflation - Asia Pacific: Region faces Nat CAT economic losses of US$22bn in 1H - SCOR posts H1 2022 net loss as nat cats, war in Ukraine & COVID-19 hit profitability - Turkey: Insurers acknowledge the influence of Gen Z - Global: Lloyd’s-Aon report indicates how businesses can mitigate risks arising - India: Regulator considers several changes to insurance operations - Lloyd’s Insurers Preparing to Cover Ukraine Grain - Natural Disasters Cost Insurers $39B During H1 2022, 18% More Than Average: Aon - GCC: Insurance markets in the region sees P&C rates mostly hardening - UAE: National health insurer offers medical plans to investors and talents - One-Quarter of Firms Operating at Lloyd’s Reach 35% Target for Women Leaders - RenRe’s underwriting performance remains strong, but investments drive Q2 loss - Turkey: Regulator warns insurers against avoiding underwriting compulsory motor - Saudi Arabia: Insurers required to pay small motor third-party liability claims - IAG reports rise in net profits - Reinsurers need to rebuild confidence: Ariel Re CEO - Morocco: Insurance sector returns to pre-COVID levels - Egypt: Russia-Ukraine war affects tourism-related insurance business - Ukraine, Russia Sign Deal to Reopen Grain Export Ports While War Continues to Rage - Allianz Notes Rising Business Interruption Costs in Global Claims Report - Beazley’s H1 profit falls on investment losses as underwriting performance improves - Egypt: Insurers eager to invest more in digital technology - OS Climate Launches Tools to Help Firms, Investors Make Climate-Friendly Decisions - Guy Carpenter sees 9% revenue growth in Q2 as Marsh McLennan reports ‘another strong quarter’ - AM Best highlights Lloyd’s improved combined ratio in recent assessment - Africa: Several markets show robust real growth in premium income in 2021 - Insurers Want Safety Assurances Before Covering Ships Sailing in Ukraine Grain Corridor - Global insured losses from catastrophes above average at $39bn in H1 2022: Aon - 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Saudi Arabia: funds of the “Insurance Authority” could be invested to ensure sustainability

Thursday, 08 24 2023, Category: Insurance and Reinsurance, Country: Saudi Arabia
In conjunction with the establishment of the Insurance Authority approved by the Saudi Council of Ministers, mid August, and according to informed sources, the Government granted both the Minister of Finance and the Chairman of the Authority, the power to invest its funds and set appropriate mechanisms accordingly.

Source: Al Morakeb Group
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