The combined net profits of the eight listed insurance companies in Palestine reached $14.5m in 2025 compared with $16.2m in 2024, marking a y-o-y decline of 10.5%, according to preliminary data lodged by the insurers with the Palestine Exchange.
The Palestine Capital Market Authority (PCMA) has issued a resolution, setting out the requirements for the appointment of senior executive management and key employees in insurance companies.
The Palestinian Cabinet has approved a proposal to allow insurers to grant a discount of up to 10% on premiums for mandatory vehicle insurance policies paid via electronic payment methods.
The revised insurance law is expected to come into effect before the end of this year, to replace the existing law, which dates to 2005.
Palestine-based Al Baraka Islamic Insurance Company has signed a cooperation agreement with the Ministry of Agriculture to implement a pilot agricultural insurance project.
The regulatory authorities in Palestine are preparing to launch a revised insurance law which will include new financial and regulatory requirements to encourage mergers among insurers.
The eruption of war between Hamas and Israel in the Middle East puts further upward pressure on S&P Global Ratings' (S&P) assessment of geopolitical risk that the global credit rating agency already views as elevated and worsening.
Holy Land Takaful Insurance Company (Holy Land) has received regulatory approval to offer takaful products in the Palestinian insurance market.
Palestine's Capital Market Authority (CMA) has said that the insurance industry is only discussing and exchanging ideas on establishing an insurance pool for compulsory motor third-party liability insurance, in response to objections to the proposed pool.
The eight insurance companies listed on the Palestine Exchange achieved a combined profit of $23.66n for 2022, according to the companies' disclosures to the Palestine Exchange.