A resumption of military confrontation in the Middle East could dampen consumer sentiment and slow growth in the UAE, which might hinder insurers' growth prospects in 2026, said S&P Global Ratings (S&P).
Shareholders of Al Rajhi Takaful Company, one of the biggest insurers in Saudi Arabia, have approved an increase of the company's capital by 100% to SAR2bn ($533m). The approval was given at an extraordinary general meeting on 21 June.
HDI Sigorta has signed a share transfer agreement for the transfer of its wholly-owned takaful subsidiary, HDI Katilim Sigorta, to Aydin Group.