The Arab War Risk Insurance Syndicate (AWRIS) has announced the reinstatement of Cargo War cover for shipments transiting high-risk maritime corridors, including the Strait of Hormuz, the Arab Sea, and Bab Al Mandeb.
The Commissioner for Insurance and CEO of the National Insurance Commission, Mr Olusegun Omosehin, has emphasised the need for sustained collaboration among stakeholders to drive meaningful change in the insurance industry.
Prime Minister Li Qiang, in delivering the government work report at the opening yesterday of the annual National People's Congress meeting, highlighted several targets for the insurance industry.
The consolidated premium income generated by the Wafa Assurance Group, the leading insurance group in Morocco, reached more than MAD15,226m ($1,637m) in the 2025 financial year, an increase of 10.9% compared to the previous year.
The Insurance Council of Australia (ICA) has declared the conflict in the Middle East a "Significant Event", in an effort to amplify industry support. The declaration assists the ICA, insurers and policymakers to assess the insurance impact of the conflict.
S&P Global Ratings (S&P) says that it considers the gravity of the military conflict in the Middle East to have moved from high to severe in its pre-defined scenarios and consequently, the potential for events to weaken credit quality across sectors has increased.
The biggest global repercussions of the ongoing military conflict in the Middle East include the increased risks of terrorism, spikes in reinsurance prices, fluctuations in financial markets and energy prices, and hikes in compensation costs, according to Mr Khaled Abdel-Sadek, a Vice Chairman of the Insurers Federation of Egypt (IFE).
Morocco's insurance sector continued to expand in 2025, with the growth of the life insurance business outpacing the non-life segment.
Last year, major domestic non-life insurers saw their net profits drop by double digits, driven by a KRW400bn ($278m) deficit in auto insurance.
The Competition Commission has recommended that the Competition Tribunal approve the proposed acquisition by Orient Victoria and KP Partners of King Price Financial Services (KPFS) and Porcupine Union, without conditions.