Life business is the bright spot for Egypt
Egypt’s insurance sector achieved top-line growth of 13.1% to reach EGP27.8bn ($1.4bn) during the January-June period of 2022, led by robust performance of the life and takaful segments. In particular, life not only outpaced that of non-life...
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Regulating sustainability, InsurTech, takaful and price cutting
All eyes are likely to be on the activity of Egypt’s insurance regulator as life insurance business surges ahead of P&C insurance in the first half of the year. We take a look at the most significant regulatory developments to touch the...
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Outstanding growth in life in Egypt
Life and medical insurance in Egypt have been growing steadily despite the challenges that hit the country in the past period and will remain growth drivers in the coming years.

Oil windfall to benefit Saudi insurance industry
Rising energy prices caused by Russia president Vladimir Putin’s invasion of Ukraine is proving to be a huge benefit to several countries in the Middle East, which are in the position to take advantage of the windfall in order to increase...
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Fund raising and consolidation driven by capital requirements
Saudi insurers are raising funds following requirements to increase their minimum capital. A few have signed M&A deals leading to further consolidation of the market. Middle East Insurance Review spoke to Badri Management Consultancy’s Mr...
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Bringing health insurance into the future
The Kingdom of Saudi Arabia has been focused on enhancing several public services as part of its Vision 2030 plan, with healthcare and health insurance at the forefront. Billions of dollars are being invested into bringing the kingdom’s...
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Growth through acquisition
With its recent acquisition of a majority stake in Gulf Assist, Europ Assistance aims to bring new services and tools to its partners in the Middle East with aspirations to improve the quality of services. Messrs Pascal Baumgarten and Enrique...
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View from India - Are insurers ready for electric vehicles?
As the era of electric vehicles begins in India, how prepared is the insurance industry to handle the new risk? Tata Motors Insurance Broking and Advisory Service’s Mr M Ravichandran briefs Middle East Insurance Review on how the insurers...
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The effects of inflation on insurance claims
Despite post-COVID recovery being well under way, MENA’s insurance industry is facing significant claims inflation. GRS Middle East Loss Adjusters’ Mr Jim Pittman looks at the factors in play.
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SIRC: Inflation implications for reinsurance
The full agenda for this year’s Singapore International Reinsurance Conference is taking shape under the steady guidance of the Singapore Reinsurers’ Association. We take a sneak peek at how the proceedings are firming up.

The strength of traditional broking
Oneglobal Broking is a relatively new insurance broker – and a new entrant to the DIFC. We caught up with Mr Matthew Warren to see where new business opportunities lie and which geographies the broker will focus on.
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Bancatakaful gaining traction
Over the last year or so, there has been an uptick of activity related to bancatakaful across multiple markets. We look at some of the notable developments.
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Staying relevant through innovation
RISC Institute is a financial services training and talent development organisation serving the insurance, capital markets, risk management and personal financial planning sectors in the MENA region. We spoke to RISC’s Mr Silvan Said about how...
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Middle East: JENOA adopts flood risk in the region
Boutique digital broker JENOA Insurance & Risk Management has adopted global flood maps from RMS to provide an analytical view of flood risk in the Middle East.
GCC: UAE and Saudi insurance markets forecast to grow by at least 5% this year
S&P Global Ratings has forecast that gross premiums in the UAE will grow by approximately 5% and the Saudi insurance market will see GWP increase by 5-10% in 2022.
Egypt: Motor insurers eyeing 10% increase in premium income
The Egyptian Compulsory Vehicle Insurance Pool is working to help motor insurers meet the target of EGP1.3bn ($67.9m) in premium income in the current financial year ending 20 June 2023 (FY2023). This represents a targeted growth rate of 10%.

Top causes of insurance claims
Over the past five years, fire and explosion, natural catastrophes and faulty workmanship or maintenance have been the major causes of loss by value of insurance claims, according to the Global Claims Review 2022 published by Allianz Global...
South Korea: Largest general insurers stick with coal
South Korea’s two general insurers Samsung Fire & Marine Insurance (Samsung FMI) and Hyundai Marine & Fire Insurance (Hyundai MFI) have no plans to phase out existing insurance underwriting for coal, according to their latest ESG...
Landfills could soon be inundated with wind turbine blades
Tens of thousands of wind turbine blades will end up in landfills by the end of the decade unless end-of-life programmes are established soon, according to a new study End-of-life policy considerations for wind turbine blades led by the University...

Malaysia: KTMB offers takaful plan for passengers
Malaysia railway company KTMB has teamed up with Etiqa General Takaful to provide a new integrated ticketing system passenger takaful plan to users and electric train service passengers.
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Saudi Arabia: Bupa Arabia gets SAMA's final nod on insurance product
Bupa Arabia has received the final approval from the Saudi Central Bank (SAMA) to sell its new insurance product called ‘Bupa Policy Benefit Upgrade’ in the kingdom.
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UAE: Daman rolls out exclusive packages for Golden Visa holders
The National Health Insurance Company (Daman) has launched exclusive health insurance packages for Golden Visa holders in the UAE.
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