Insurance companies in Turkiye paid out a cumulative TRY50bn ($2.6bn at February 2023 exchange rates) in ...
Turkiye: Agricultural insurance pool pays out US$1.2m promptly for tornado damage
TARSIM, the Agricultural Insurance Pool, has paid out TRY39m ($1.2m) to greenhouse producers in the southern province of Antalya whose crops were damaged by a recent tornado...
TARSIM, the Agricultural Insurance Pool, has paid out TRY39m ($1.2m) to greenhouse producers in the southern province of Antalya whose crops were damaged by a recent tornado...
Article / 2 hours ago
Bahrain: GIG Takaful posts 9% increase in net profit attributable to shareholders in 2023
Takaful International, which is a subsidiary of GIG Bahrain, has posted a net profit attributable to shareholders of BHD937,289 ($2.48m), in 2023, compared to BHD858,000 in 2022, representing an increase of 9%...
Takaful International, which is a subsidiary of GIG Bahrain, has posted a net profit attributable to shareholders of BHD937,289 ($2.48m), in 2023, compared to BHD858,000 in 2022, representing an increase of 9%...
Article / 5 hours ago
Morocco: Leading insurer sees group turnover rise by over 9% in 2023
Wafa Assurance, a leading insurer in Morocco, has posted a consolidated turnover of MAD12,724m ($1,266.4m) for 2023, an increase of 9.3% compared to 2022...
Wafa Assurance, a leading insurer in Morocco, has posted a consolidated turnover of MAD12,724m ($1,266.4m) for 2023, an increase of 9.3% compared to 2022...
Article / 20 hours ago
South Africa: Biggest insurer posts record profit in 2023
Sanlam, Africa's biggest insurer, has reported record 2023 earnings despite a series of adverse events that impacted the global economy between 2020 and 2022, beginning with the COVID-19 pandemic.
Sanlam, Africa's biggest insurer, has reported record 2023 earnings despite a series of adverse events that impacted the global economy between 2020 and 2022, beginning with the COVID-19 pandemic.
Article / 6 days ago
Jordan: AM Best revises issuer credit rating outlook to 'Stable' for Middle East Insurance Co
The underwriting results of Middle East Insurance Company (MEICO) have been adequate in recent years, as evidenced by a five-year (2018-2022) weighted average combined ratio of 99.6% (as calculated by AM Best), according to the global credit rating agency.
The underwriting results of Middle East Insurance Company (MEICO) have been adequate in recent years, as evidenced by a five-year (2018-2022) weighted average combined ratio of 99.6% (as calculated by AM Best), according to the global credit rating agency.
Article / 8 days ago
Uganda: Regulator urges insurers to consider M&As
There is a need for insurance players to think about mergers and acquisitions if Uganda is to build a sustainable insurance sector, according to Mr Ibrahim Kaddunabbi, the CEO of the Insurance Regulatory Authority (IRA).
There is a need for insurance players to think about mergers and acquisitions if Uganda is to build a sustainable insurance sector, according to Mr Ibrahim Kaddunabbi, the CEO of the Insurance Regulatory Authority (IRA).
Article / 12 days ago
UAE: Marsh staff mourn Ronny Vellekoop
Marsh staff are mourning the passing of their colleague, Ronny Vellekoop.
Marsh staff are mourning the passing of their colleague, Ronny Vellekoop.
Article / 12 days ago
Oman Re clinches retakaful window licence
Oman Re, the sole reinsurer in the Sultanate of Oman, received a retakaful window licence from the Capital Market Authority on 22 February 2024, the company announced in a statement.
Oman Re, the sole reinsurer in the Sultanate of Oman, received a retakaful window licence from the Capital Market Authority on 22 February 2024, the company announced in a statement.
Article / 13 days ago
Turkiye: Call made for insurance to be mandatory for factories
The insurance industry in Turkiye faces several challenges, according to the chairman of the Istanbul Chamber of Industry, Mr Erdal Bahcivan.
The insurance industry in Turkiye faces several challenges, according to the chairman of the Istanbul Chamber of Industry, Mr Erdal Bahcivan.
Article / 16 days ago
Oman Re's 2023 reinsurance revenue surges by 29%
Oman Re, the Sultanate's only reinsurer, has announced a huge jump in reinsurance revenue, which reached OMR 42.1m ($109.3m) for the fiscal year ended on 31 December 2023.
Oman Re, the Sultanate's only reinsurer, has announced a huge jump in reinsurance revenue, which reached OMR 42.1m ($109.3m) for the fiscal year ended on 31 December 2023.
Article / 19 days ago