Insurance rates in the first quarter of 2024 declined 2% in the IMEA region, where rates for large and co...
Nigeria: Authorities to raise issue of war risk insurance with foreign insurers
The Nigerian Maritime Administration and Safety Agency (NIMASA) has said that it would be engaging foreign insurance companies, including Lloyd's, to address the issue of war risk insurance placed on Nigeria-bound cargoes by shipping companies.
The Nigerian Maritime Administration and Safety Agency (NIMASA) has said that it would be engaging foreign insurance companies, including Lloyd's, to address the issue of war risk insurance placed on Nigeria-bound cargoes by shipping companies.
Article / 2 days ago
Middle East: Deutsche Rück Group records strong growth
German reinsurer, Deutsche Rück Group, has announced that it chalked up strong growth in all its markets in 2023, including the Middle East...
German reinsurer, Deutsche Rück Group, has announced that it chalked up strong growth in all its markets in 2023, including the Middle East...
Article / 8 days ago
UAE: Insurers raise disaster insurance premiums by up to 50%
Some insurers in the UAE have increased premiums for losses arising from NAT Cat, while others are still considering adjustments in rates and will do so in the near future.
Some insurers in the UAE have increased premiums for losses arising from NAT Cat, while others are still considering adjustments in rates and will do so in the near future.
Article / 10 days ago
Saudi Arabia: Insurance market continues profitable trend in 1Q
The record profitability (after zakat & tax) seen in the insurance industry in 2023 has continued in 2024 with the sector reporting a 48% upsurge in net profits to SAR879m ($234m) in 1Q2024 from SAR594m in 1Q2023...
The record profitability (after zakat & tax) seen in the insurance industry in 2023 has continued in 2024 with the sector reporting a 48% upsurge in net profits to SAR879m ($234m) in 1Q2024 from SAR594m in 1Q2023...
Article / 11 days ago
Algeria: Agricultural disaster insurance scheme to be launched shortly
The Caisse Nationale de Mutualité Agricole (CNMA), which dominates the agricultural insurance market, is preparing to launch "very soon" a product covering crops for climate change risks, such as drought and floods.
The Caisse Nationale de Mutualité Agricole (CNMA), which dominates the agricultural insurance market, is preparing to launch "very soon" a product covering crops for climate change risks, such as drought and floods.
Article / 12 days ago
Egypt: Insurance industry discusses feasibility of forming a national reinsurer
The amount of capital needed for the proposed establishment of a reinsurance company in Egypt with a high credit rating is estimated at $150m to $250m, according to Mr Gamal Sakr...
The amount of capital needed for the proposed establishment of a reinsurance company in Egypt with a high credit rating is estimated at $150m to $250m, according to Mr Gamal Sakr...
Article / 15 days ago
Türkiye: Top reinsurers disclose losses arising from Kahramanmaras earthquake
With the publication of annual reports in recent weeks, the world's three biggest reinsurers have indicated the quantum of claims incurred due to the massive February 2023 earthquake that hit Türkiye and Syria.
With the publication of annual reports in recent weeks, the world's three biggest reinsurers have indicated the quantum of claims incurred due to the massive February 2023 earthquake that hit Türkiye and Syria.
Article / 17 days ago
Middle East: Wary reinsurers adjust Nat CAT coverage
International reinsurers are starting to categorise the Middle East as a Nat CAT hot spot, given the increased frequency of natural hazards in the region in recent years, according to Apex-Egypt Reinsurance Brokerage managing director Khaled El-Sayed.
International reinsurers are starting to categorise the Middle East as a Nat CAT hot spot, given the increased frequency of natural hazards in the region in recent years, according to Apex-Egypt Reinsurance Brokerage managing director Khaled El-Sayed.
Article / 18 days ago
Morocco: Insurance industry shows higher profitability in 2023 despite slowest revenue growth in recent years
The Moroccan insurance sector improved its profitability in 2023, achieving a net profit of MAD4.5bn ($448.4m), an increase of 5.8% over 2022...
The Moroccan insurance sector improved its profitability in 2023, achieving a net profit of MAD4.5bn ($448.4m), an increase of 5.8% over 2022...
Article / 22 days ago
UAE: Insurers willing to insure commercial property risks at the appropriate price
Insurance companies are willing to insure industrial and commercial facilities that take risk mitigation measures, according to Minister of State for Financial Affairs Mohammed bin Hadi Al-Husseini.
Insurance companies are willing to insure industrial and commercial facilities that take risk mitigation measures, according to Minister of State for Financial Affairs Mohammed bin Hadi Al-Husseini.
Article / 1 month ago
