AXA XL, the P&C and specialty risk division of Paris-headquartered AXA Group, has reported a EUR100m ($115.4m) loss related to the Middle East for the first half of this year.
MNK International has appointed Mr William Wakeham as Managing Director of its new international energy division. The new division will focus on selected markets across Africa and the Middle East, alongside other territories, and work with insureds, local brokers and cedants.
The Lloyd's Market Association (LMA) has published a new model wording for use by marine (hull) underwriters, addressing the position where a transit fee, toll or other charge is paid for a vessel to pass through Iranian territorial waters or otherwise to transit the Strait of Hormuz.
Composite insurance rates in the second quarter decreased 16% in the India, Middle East, and Africa (IMEA) region, the biggest fall across all regions analysed, according to Marsh, the global leading insurance broker.
Saudi Arabia-flagged, owned or operated vessels, vessels en route to or from Saudi Arabia and the Kingdom's Red Sea ports are assessed at high risk of a Houthi attack, according to Ambrey Analytics.
Liberty Mutual Insurance has promoted Mr Gareth Rees to the role of Global Lines Leader for its Global Transaction Solutions (GTS) business.
Allianz Partners has promoted Mr Carsten Staat to the role of Regional Managing Director for MEA, effective 1 August 2026.
AI12, a specialist (re)insurance broker, has appointed Mr Alfie Langley as Head of Cyber.
The Middle East conflict that dominated the first half of 2026 represents the fourth major supply shock to the global economy in the past six years, according to Swiss Re Institute's (SRI) latest sigma report ,"World insurance in 2026: Shock absorbers in a fragmenting world", released yesterday.
The Arab War Risks Insurance Syndicate (AWRIS) delivered strong financial performance for 2025, with net premiums rising by 22.4% and net profit increasing by 20.6% compared with the previous year.