Intense competition for this year's Middle East Insurance Industry Awards has produced a distinguished list of 56 finalists, encompassing insurers, brokers, risk managers, service providers, and industry leaders.
Global reinsurers built their capital by at 4.8% to $805bn, as of 1H2025, an increase of 4.8% versus the restated full-year 2024 base, according to Gallagher Re's "Reinsurance Market Report: Results for half-year 2025", published earlier this month. The increase was supported by solid retained earnings.
Lockton Re, the reinsurance business of the world's largest privately held independent insurance broker, has launched a new operation in Dubai.
These are the highlights for events and updates across the insurance industry this week.
OAK Global has appointed Mr Roland Morse as CUO of its new strategic business unit, OAK Enterprise. The unit will be focussed on underwriting retrocession business with an appetite for property and specialty classes, and will provide risk solutions to clients through Lloyd's Syndicate 1440.
Government-controlled listed reinsurance company Kenya Re has posted a 50% growth in consolidated profit after tax to KES1.58bn ($12.2m) for the six months ended 30 June 2025 from KES1.06bn for the corresponding half in 2024, according to interim financial reports released by the reinsurer.
RIQ, the AI-native reinsurance platform and a subsidiary of International Holding Company (IHC), has entered into a strategic reinsurance collaboration agreement with ADNOC, a leading diversified energy group, wholly owned by the Abu Dhabi government.
The Federation of Afro-Asian Insurers and Reinsurers (FAIR) is progressing with the arrangements for its 29th FAIR Conference and General Assembly, which will take place from 5-8 October 2025 at the JW Marriott Mumbai Sahar Hotel, India, under the theme "Emerging Markets - Towards Resilient Growth."
Eleven insurance companies have appeared on the list of the top 100 taxpayers in Turkey, paying a total of TRY23.5bn ($569m) in taxes for 2024, according to data released by the Revenue Administration.