Saudi Reinsurance has posted net profits after zakat attributable to shareholders of SAR35.4m in the first quarter of this year, 11.4% higher than in the corresponding quarter of 2023.
This new company, yet to be named, will provide critical underwriting capabilities, underpinned by cutting-edge AI technologies, to help accelerate growth of the insurance and capital market ecosystem in the Gulf region and support the continued evolution of regional capital markets.
Zhibao Technology Inc (ZBAO), a Nasdaq-listed company, recently released its financial data for the first half of the 2025 fiscal year, showcasing its growth. The company's operating revenue for the period reached CNY146.4m ($20.14m), marking a 74% year-on-year increase. Operating profit also surged by CNY12.18m.
These are the highlights for all events and updates across the industry this week.
Lloyd's has announced that Mr Patrick Tiernan has been appointed as CEO by the Council of Lloyd's.
The Australian insurance industry says that extreme weather, building inflation, soaring reinsurance premiums and state insurance taxes are the key factors that push up the insurance premiums.
Gallagher, one of the world's largest insurance brokerage, risk management and consulting firms, has acquired Türkiye-based Aspera Sigorta ve Reasürans Brokerligi (Aspera). The terms of the transaction were not disclosed.
SCOR has formed a partnership with Howden insurance brokers and Charles Taylor loss adjusters, to launch Project INmersABILITY in Singapore.
The Insurance Regulatory and Development Authority of India (IRDAI) has retained the obligatory cession in favour of the state-owned Indian reinsurer GIC Re at 4% for financial year 2025-26.
Price Forbes Dubai has appointed Mr David Howells as senior executive officer, subject to regulatory approval.