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Saudi Arabia: Combined profit of listed insurance sector jumps multifold to nearly US$900m in 2023

Saudi Arabia: Combined profit of listed insurance sector jumps multifold to nearly US$900m in 2023

Listed insurance companies in the Saudi market saw stellar growth in 2023, as their combined profits soared to SAR3,353m ($894m), compared to profits of less than SAR320m in 2022...
Listed insurance companies in the Saudi market saw stellar growth in 2023, as their combined profits soared to SAR3,353m ($894m), compared to profits of less than SAR320m in 2022...
Article / 1 month ago
UAE: Credit loss provision contributes to SALAMA's red ink in 2023

UAE: Credit loss provision contributes to SALAMA's red ink in 2023

Islamic Arab Insurance Company, listed as SALAMA on the Dubai Financial Market, posted a net loss of AED139.33m ($37.94m) for the 2023 financial year, compared to a net profit after tax of AED35.44m...
Islamic Arab Insurance Company, listed as SALAMA on the Dubai Financial Market, posted a net loss of AED139.33m ($37.94m) for the 2023 financial year, compared to a net profit after tax of AED35.44m...
Article / 1 month ago
Bahrain: GIG Takaful posts 9% increase in net profit attributable to shareholders in 2023

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 / 2 months ago

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Turkiye: Agricultural insurance pool pays out US$1.2m promptly for tornado damage
Turkiye: Agricultural insurance pool pays out US$1.2m promptly for tornado ...
TARSIM, the Agricultural Insurance Pool, has paid out TRY39m ($1.2m) to greenhouse producers in the south...
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Turkish insurers cover insured losses estimated at more than $5bn from Kahramanmaras Earthquake
Turkish insurers cover insured losses estimated at more than $5bn from Kahr...
Insurance companies in Turkiye paid out a cumulative TRY50bn ($2.6bn at February 2023 exchange rates) in ...
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Egypt: Gaza conflict pushes demand for political violence insurance up by 25%
Egypt: Gaza conflict pushes demand for political violence insurance up by 2...
The demand for political violence insurance coverage has increased by 25% during the current period due t...
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Middle East: Events in Gaza cast a shadow over Arab insurance markets
Middle East: Events in Gaza cast a shadow over Arab insurance markets
The insurance sector is anticipating an increase in the prices of political violence coverage in the regi...
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Morocco: Earthquake in High Atlas mountains claims more than 2,000 lives
Morocco: Earthquake in High Atlas mountains claims more than 2,000 lives
A powerful earthquake that struck the Ighil region of the High Atlas in central Morocco on 8 September ha...
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Saudi Arabia: Vision 2030 strategy to open up huge opportunities to insurers
Saudi Arabia: Vision 2030 strategy to open up huge opportunities to insurer...
Saudi Arabia's Vision 2030 strategy for diversifying its economy involves multiple projects that will cre...
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African insurers cite drought as top risk in agriculture
African insurers cite drought as top risk in agriculture
The top three risks to agriculture in several African countries are drought, followed by floods and extre...
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