The Egyptian insurance industry is monitoring the war in the Middle East between Israel and Iran and its impact on insurance coverage, premium rates and compensation costs.
The Financial Regulatory Authority (FRA) is extending the grace period for insurers to adhere to the Unified Insurance Law by a year, from 11 July.
S&P Global Ratings (S&P) has raised its long-term issuer credit and insurer financial strength ratings on Gulf Insurance Group (GIG) and Gulf Insurance and Reinsurance Co to ‘A+’ from ‘A’. The outlook on all ratings is ‘Stable’.
Scientists have found that global warming in the Middle East and North Africa is making breast, ovarian, uterine, and cervical cancer more common and more deadly. The rise in rates is small but statistically significant, suggesting a notable increase in cancer risk and fatalities over time.
The Insurance and Social Security Supervisory Authority (ACAPS) and three other institutions have approved the 2025-26 roadmap to combat corruption in the financial sector.
Oman’s insurance regulatory and supervisory framework is assessed as having a good level of observance of the Insurance Core Principles (ICPs). A majority of the ICPs are assessed as either ‘Observed’ or ‘Largely Observed’, said the International Association of Insurance Supervisors (IAIS).
The Saudi Arabian insurance industry’s profits (after-zakat & tax) dropped by 28% in the first three months of 2025 to SAR0.6bn ($160m) in 1Q2025 from SAR0.9bn in 1Q2024, Badri Management Consultancy, an international actuarial consulting company, has said.
GlobeMed Saudi, a healthcare benefits management company has announced a collaboration with Orient Insurance – Saudi Branch, which is part of Orient Group, a top-tier insurance provider in the UAE with strong regional expertise.
The earnings of Societe Tunisienne de Reassurance (Tunis Re) are strong for its rating, underpinned by solid underwriting performance, Fitch Ratings has said.
Türkiye’s insurance industry posted net profits of TRY34bn ($863m) for the first three months of 2025, according to data from the Insurance Association of Turkiye (TSB).
State-controlled PureHealth, the largest healthcare provider in the UAE, has strategically expanded its insurance arm, Daman, transforming the latter from a health-focused entity into a comprehensive multi-line insurer with entry into the high-growth Property and Casualty (P&C) segment.
Global
The global premium pool is forecast to grow by EUR5,319bn ($6,222bn) over the next 10 years in absolute terms, according to the ‘Allianz Global Insurance Report 2025: Rising demand for protection’ published by Allianz Research. Much of this growth—EUR2,055bn—will be in the life segment.
Intensifying geopolitical rivalries, policy uncertainty and competition for critical minerals are reshaping the risk landscape as well as driving demand for protection and these in turn are giving a boost to credit and political risk insurance according to a new report.
The insurance approaches of businesses in 2025 to a range of supply chain risks reveal both consistency and notable shifts when compared with 2023, according to WTW’s ‘Global supply chain risk report: Navigating supply chain risks and insurability’, released recently.
The adoption of deal insurance continues to accelerate as acquirers (and vendors) race to offset risk in an increasingly uncertain dealmaking environment, says global law firm Norton Rose Fulbright.
Takaful
Profitability in the Islamic general insurance branch varied across regions, with some markets facing rising claims pressures in 2024, says the Islamic Financial Services Board (IFSB).
The global Islamic insurance sector generally maintained solvency positions above regulatory thresholds in 2024, although resilience varied across regions, says the Islamic Financial Services Board (IFSB).
Central Asian nations make a modest contribution to the industry, with reported total Islamic finance assets of $699m in 2023, or 0.01% of total global assets, says the report, “The Future of Islamic Finance in Central Asia”.
While the top five Organisation of Islamic Cooperation (OIC) exporting countries accounted for a substantial share of OIC’s exports in 2024, there is a pressing need to support other member states that have strong potential but face export-related challenges, said the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) in its 2024 annual report that was released recently.
Takaful contributions in Egypt reached EGP4.5bn ($90.2m) in 1Q2025, registering a 60.2% increase from the corresponding period of 2024, according to data from the Financial Regulatory Authority (FRA).
Structural obstacles are hampering the development of the takaful industry in Indonesia, including regulations that do not sufficiently accommodated the characteristics of Shariah insurance.
While insurance penetration in Malaysia has reached 40%, family takaful participation lags at only 20%, raising questions about why many Muslims hesitate to adopt Shariah-compliant financial products.
The operating performance of Qatar Islamic Insurance Group (QIIG) is strong, evidenced by a five-year (2020-2024) weighted average return on equity of 16.6%, AM Best said in a recent report.
Details of the proposed Islamic Finance Law, which Treasury and Finance Minister Mehmet Simsek has announced that the government is working on, have begun to emerge.
The performance of Uganda’s insurance industry is expected to improve this year due to factors such as the expected take-off of takaful.