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.
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.
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.
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.