Bahrain National Holding Company (BNH) has established an internal actuarial unit, which includes specialised Bahraini cadres.
The insurance sector needs to consider hiking the pricing of its products in response to the increase in the degree and size of risks that it covers, according to the Financial Regulatory Authority (FRA) chairman Mohamed Farid.
Gulf Insurance Group (GIG) has made a profit from the sale of its entire stake in the UAE’s HAYAH Insurance, the Kuwaiti group said in a statement lodged with Boursa Kuwait.
Société Centrale de Réassurance (SCR), a reinsurer in Morocco and the second-largest Africa-based reinsurer, is expanding overseas by taking its underwriting activities to the Azerbaijani market.
E-constat, the official motor claims online platform designed for insurers to digitalise and accelerate the processing and settlement of auto claims, has been activated.
The Omani insurance industry wrote a total GWP of OMR250m ($649m) in the first half of 2022 (1H2021: OMR222m), representing growth of 13%.
QIC Global, the international specialty insurance and reinsurance subsidiary of Qatar Insurance Group, has announced its intention to align its core companies under the Antares name, creating a single identity to unify the brand across respective entities.
Qatar has forged ahead with the rollout of its mandatory healthcare insurance scheme by issuing the long-awaited executive regulations, which form an integral part of the health insurance law that came into effect in May 2022, said Clyde & Co.
Saudi Arabia’s Capital Market Authority (CMA) has approved the application for a capital increase by Bupa Arabia for Cooperative Insurance (Bupa) through the issuance of bonus shares.
Saudi Enaya Cooperative Insurance received on 7 October the Saudi Central Bank’s (SAMA) approval to increase the company’s capital to SAR230m ($61.3m) from SAR100m by offering a rights issue. The approval is valid for six months.
Farmers in Turkiye have become increasingly aware of insurance, and more are taking steps to obtain coverage for their crops and livestock, according to the Agricultural Insurance Pool (TARSIM) general manager and board member Serpil Gunal.
Oman Insurance Company (OIC) has adopted a new branding, called Sukoon, to reinforce its deep-rooted heritage in the UAE market.
London-based Optio Group, a specialty MGA, has announced that it will establish an MGA and reinsurance broker in Dubai, subject to final approvals from the UAE regulatory authorities.
Climate investments must be made sooner and on a much larger scale if the world is to meet the Paris Agreement and 2050 net-zero targets, according to a new Swiss Re Institute study tracking progress on decarbonising the economy.
RMS has estimated total private market insured losses from hurricane Ian to be between $53bn and $74bn, with the best estimate of $67bn. RMS also estimated that the National Flood Insurance Program (NFIP) could see an additional $10bn in losses from storm surge and inland flooding as a result of the event.
The 2022-2023 policy year has seen a dramatic shift in the P&I clubs’ underwriting performance, according to S&P Global Ratings. Following three years of elevated pool claims, at the end of September 2022 no new pool claims have been notified for the policy year.
Swiss Re estimates its preliminary claims from hurricane Ian at approximately $1.3bn, resulting in an expected group net loss of approximately $500m for 3Q2022.
Revenues at 10 of the largest publicly traded US property and casualty insurers are expected to increase year over year in the third quarter, while 11 would see their EPS decrease, according to an S&P Global Market Intelligence examination of sell-side analyst forecasts.
The Malaysian Takaful Association (MTA) has launched the Value-based Intermediation for Takaful (VBIT) roadmap, which is an extension of a framework launched last year.
Walaa Cooperative Insurance Company (Walaa) announced the effectiveness of the resolution to merge SABB Takaful Company in Walaa on 18 October, according to a stock market statement.
Islamic Arab Insurance (Salama) and Takaful Emarat (TE) have formed an assessment committee to act on the proposed merger of the two Islamic insurers.
Dubai Islamic Insurance and Reinsurance Company (Aman), listed on the Dubai Financial Market (DFM), has announced its intention to exit its general takaful, health insurance and group family takaful operations.