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Jul 2021

Middle East: Total assets of top 5 insurers in the region jump by 7% in 2020

Source: Middle East Insurance Review | Jun 2021

The total assets of the five largest listed insurance companies in the Arab region increased by 7% in 2020 to reach $26.2bn, compared to $24.5bn in 2019, according to a Forbes Middle East report.
Qatar Insurance Company (QIC) topped the ranking, as its assets grew by 8% to QAR42.58bn ($11.7bn) at the end of last December.
Morocco’s Wafa Assurance is placed second with total assets of $5bn, followed by Saudi Arabia’s Tawuniya with a value of $3.8bn; then by Bupa Arabia with a value of $3.1bn while Kuwait’s Gulf Insurance Group ranked fifth with total assets of $2.7bn.
In terms of ranking by net profit, Bupa Arabia leads the pack with $185.6m, followed by Tawuniya with $105m.
The following table summarises the positions of the top 5 insurers in the Arab insurance sector. M 
Rank Assets as at 31 Dec 2020 ($bn) 2020 net profit ($m)
1 QIC 11.7 Bupa Arabia 185.6
2 Wafa 5.0 Tawuniya 105.0
3 Tawuniya 3.8 Gulf Insurance Group 54.2
4 Bupa Arabia 3.1 Wafa 42.3
5 Gulf Insurance Group 2.7 QIC 27.7
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