The Turkish insurance industry has assessed that it will be able to pay - by the end of June 2023 - 95% o...
Turkiye: Several reinsurers announce 6 Feb quake losses
Several global reinsurers have reported estimated losses arising from the devastating earthquakes in Turkiye on 6 February, as they released their 1Q2023 financial statements.
Several global reinsurers have reported estimated losses arising from the devastating earthquakes in Turkiye on 6 February, as they released their 1Q2023 financial statements.
Article / 7 days ago
Egypt: Insurers to face tight renewal terms in July
Insurance companies that will be renewing their reinsurance agreements in July are facing tight conditions in the credit, medical, marine, and natural disaster branches.
Insurance companies that will be renewing their reinsurance agreements in July are facing tight conditions in the credit, medical, marine, and natural disaster branches.
Article / 9 days ago
Nigeria: Regulator issues guidelines for takaful and retakaful operators
The National Insurance Commission (NAICOM) has issued two sets of guidelines for the (re)takaful sector.
The National Insurance Commission (NAICOM) has issued two sets of guidelines for the (re)takaful sector.
Article / 15 days ago
Morocco: Insurance industry posted combined profits of US$430m in 2022
The insurance sector improved its profitability in 2022, when it chalked up a net profit of MAD4.3bn ($430m), according to the Insurance and Social Security Supervisory Authority (ACAPS).
The insurance sector improved its profitability in 2022, when it chalked up a net profit of MAD4.3bn ($430m), according to the Insurance and Social Security Supervisory Authority (ACAPS).
Article / 17 days ago
Africa: Domestic insurers concerned about business underwritten overseas
The insurance industry in Africa fear that business placed outside the continent have become so huge that African insurers have in most cases acted as agents to overseas insurers.
The insurance industry in Africa fear that business placed outside the continent have become so huge that African insurers have in most cases acted as agents to overseas insurers.
Article / 17 days ago
Turkiye: Insurers to implement local equivalent of IFRS 17 with effect from 1 Jan 2024
The Insurance and Private Pensions Regulatory and Supervisory Agency (SEDDK) has amended regulations on the financial reporting of insurance and reinsurance companies and pension companies.
The Insurance and Private Pensions Regulatory and Supervisory Agency (SEDDK) has amended regulations on the financial reporting of insurance and reinsurance companies and pension companies.
Article / 17 days ago
Saudi Arabia: SAMA issues exposure draft of marine insurance regulations
The Saudi Central Bank (SAMA) says that it has been drafting a set of regulations, called "Marine Insurance Coverage Instructions".
The Saudi Central Bank (SAMA) says that it has been drafting a set of regulations, called "Marine Insurance Coverage Instructions".
Article / 22 days ago
International broker Howden to establish hub in Turkiye
International insurance broker Howden Broking Group is working to establish a hub in Turkiye which will manage business in the Caucasus, Turkic republics and Commonwealth of Independent States countries
International insurance broker Howden Broking Group is working to establish a hub in Turkiye which will manage business in the Caucasus, Turkic republics and Commonwealth of Independent States countries
Article / 22 days ago
Qatar: QIC's shift in business tactic pays off as profit rises
Qatar Insurance Company's (QIC, or QIC Group) tactical shift to discontinue high-severity international operations has led to impressive performance results in the first quarter of this year
Qatar Insurance Company's (QIC, or QIC Group) tactical shift to discontinue high-severity international operations has led to impressive performance results in the first quarter of this year
Article / 23 days ago
Turkiye: Nuclear plant insured for nearly US$800m
Akkuyu Nuclear Power Plant (Akkuyu NPP), billed as Turkiye's first nuclear power plant, is insured for nuclear liability risks for EUR700m ($773m).
Akkuyu Nuclear Power Plant (Akkuyu NPP), billed as Turkiye's first nuclear power plant, is insured for nuclear liability risks for EUR700m ($773m).
Article / 23 days ago
