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Egypt: FRA eyes doubling of insurance penetration rate in 4 years

The Financial Regulatory Authority (FRA) hopes to double penetration in the next four years, as part of the its drive to increase financial inclusiveness, according to Mr Hesham Ramadan, assistant to the FRA chairman.


MENA: Shortcomings in ERM still present in insurers despite steady improvements

Enterprise risk management (ERM) frameworks and capabilities can vary widely among (re)insurers in MENA, where economic, political and financial systems risks tend to be elevated, according to analysts at AM Best.

Kuwait: GIG's net profit jumps 27% to nearly US$50m in 1H

Gulf Insurance Group (GIG), one of the MENA region's biggest insurance groups, has announced a net profit of KWD15m ($48.9m) for the first half of 2022, an increase of 27% over the corresponding half of last year.

Egypt: GIG to acquire AIG unit

The Financial Regulatory Authority (FRA) has announced said that it is studying an offer by GIG Insurance Company-Egypt, to acquire the equity shares of AIG Egypt Insurance Company.

Other News

Africa

  • Gabon: Insurance association targets digitisation
  • Cameroon: CIMA rules help insurers grow
  • Ghana: State-owned reinsurer increases dividend payment to govt

Asia

  • Global: Reinsurers see more stable and improved results in shift away from property CAT risks
  • Hong Kong: Hang Seng Bank seeks insurance partner
  • Australia: Regulator assesses general, life and health insurance sectors

China

  • New rules remove cap on foreign investments in insurance asset management
  • Beijing plans to pilot MGA development
  • Life insurers turn to incremental wholelife insurance to boost sales
Subscribe eChina

Asia Risk

  • Landfills could soon be inundated with wind turbine blades
  • Solicitors urged to help stem the rising ransomware payments
  • UK heatwave unlikely without human-caused climate change

Most Read News

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    Egypt:Life insurers to start using first set of local actuarial life tables in Oct
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    Lebanon:Non-life & life insurance sectors face several constraints
  • 3
    Saudi Arabia:Health insurer posts 16% fall in pre-zakat net profit to US$114m in 1H2022
  • 4
    6th Saudi Insurance Symposium to spotlight compulsory insurance, innovation & growth
  • 5
    Lebanon:Insurance regulatory reform in limbo because of political deadlock

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