The magazine provides a comprehensive overview and insights into the dynamic Middle East Insurance Industry & Takaful Developments, and the interplay between the two.

Türkiye: Spike in quake insurance sales lasts for 3 months after Feb 2023 disaster

Insurance sales jumped immediately after the devastating February 2023 7.8 magnitude earthquake, but this spike lasted for around three months only, according to Insurance Association of Türkiye (TSB) member of the board Yavuz Olken.
Insurance sales jumped immediately after the devastating February 2023 7.8 magnitude earthquake, but this spike lasted for around three months only, according to Insurance Association of Türkiye (TSB) member of the board Yavuz Olken.
Article / 12 days ago

Turkish insurers cover insured losses estimated at more than $5bn from Kahramanmaras Earthquake

Insurance companies in Turkiye paid out a cumulative TRY50bn ($2.6bn at February 2023 exchange rates) in compensation claims as of 5 February 2024 related to the massive 6 February earthquakes in 2023
Insurance companies in Turkiye paid out a cumulative TRY50bn ($2.6bn at February 2023 exchange rates) in compensation claims as of 5 February 2024 related to the massive 6 February earthquakes in 2023
Article / 14 days ago

South Africa: Insurance premiums expected to increase due to impact of climate change

Climate change poses the most significant threat for South African insurance companies and risks raising premiums and the cost of reinsurance, reported Bloomberg, quoting a top official at its biggest insurer by assets.
Climate change poses the most significant threat for South African insurance companies and risks raising premiums and the cost of reinsurance, reported Bloomberg, quoting a top official at its biggest insurer by assets.
Article / 20 days ago

Saudi Arabia: Biggest insurer posts 17% jump in 2023 net profits

Bupa Arabia for Cooperative Insurance Company, Saudi Arabia's biggest insurer in terms of premiums, recorded net profits after zakat attributable to the owners of SAR940.16m ($250.72m) in 2023, a year-on-year rise of 16.77%.
Bupa Arabia for Cooperative Insurance Company, Saudi Arabia's biggest insurer in terms of premiums, recorded net profits after zakat attributable to the owners of SAR940.16m ($250.72m) in 2023, a year-on-year rise of 16.77%.
Article / 23 days ago

Morocco: Parametric insurance pool pays out US$275m for Sep 2023 quake

A parametric insurance pool brokered by Gallagher Re has paid compensation of $275m to Morocco's Solidarity Fund against Catastrophic Events (FSEC), relating to the September 2023 M6.8 Al Haouz earthquake.
A parametric insurance pool brokered by Gallagher Re has paid compensation of $275m to Morocco's Solidarity Fund against Catastrophic Events (FSEC), relating to the September 2023 M6.8 Al Haouz earthquake.
Article / 26 days ago

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