TARSIM, the Agricultural Insurance Pool, has paid out TRY39m ($1.2m) to greenhouse producers in the south...
Middle East: S&P says insurers currently broadly unaffected by Israel-Hamas conflict
The Israel-Hamas war is expected to continue over 2024, and Gaza will remain the epicentre, with continued pressure on Israel (AA-/Negative/A-1+) from Iran (unrated) and its proxies, according to S&P Global Ratings (S&P).
The Israel-Hamas war is expected to continue over 2024, and Gaza will remain the epicentre, with continued pressure on Israel (AA-/Negative/A-1+) from Iran (unrated) and its proxies, according to S&P Global Ratings (S&P).
Article / 21 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 / 2 months ago
Heightened macroeconomic challenges for sub-Saharan Africa's reinsurers
The declining creditworthiness of many African debt issuers has led to increased asset risk and will test the resilience of the continent's reinsurers' balance sheets, according to a new AM Best report.
The declining creditworthiness of many African debt issuers has led to increased asset risk and will test the resilience of the continent's reinsurers' balance sheets, according to a new AM Best report.
Article / 8 months ago
Africa: Domestic insurers look to credit ratings to win market share
One of the issues currently of concern to insurers across the African insurance market is how to use credit ratings to develop and reposition themselves for global competitiveness.
One of the issues currently of concern to insurers across the African insurance market is how to use credit ratings to develop and reposition themselves for global competitiveness.
Article / 11 months ago
MENA: War risk pool receives 'B++' Financial Strength Rating from AM Best on strong operating results
Bahrain-based Arab War Risks Insurance Syndicate (AWRIS) has a track record of strong operating performance, demonstrated by a 10-year (2012-2021) weighted average
Bahrain-based Arab War Risks Insurance Syndicate (AWRIS) has a track record of strong operating performance, demonstrated by a 10-year (2012-2021) weighted average
Article / 1 year ago
Kuwait: Reinsurer receives 'A-' global-scale financial strength rating
S&P Global Ratings has assigned Kuwait Reinsurance (Kuwait Re) a 'A-' global scale and 'gcAAA' Gulf Cooperation Council regional scale financial strength ratings...
S&P Global Ratings has assigned Kuwait Reinsurance (Kuwait Re) a 'A-' global scale and 'gcAAA' Gulf Cooperation Council regional scale financial strength ratings...
Article / 2 years ago
Qatar: Islamic insurer's surplus-generating ability sustains takaful model
Qatar Islamic Insurance Group (QIIG) employs a hybrid takaful model, whereby the shareholders' fund charges the policyholders' fund a wakala fee based on gross written contributions...
Qatar Islamic Insurance Group (QIIG) employs a hybrid takaful model, whereby the shareholders' fund charges the policyholders' fund a wakala fee based on gross written contributions...
Article / 2 years ago
UAE: Oman Insurance upgraded to 'A' on sustainable operating performance
S&P Global Ratings has raised its long-term issuer credit and insurer financial strength ratings on Dubai-headquartered Oman Insurance to 'A' from 'A-'. The outlook is 'Stable'...
S&P Global Ratings has raised its long-term issuer credit and insurer financial strength ratings on Dubai-headquartered Oman Insurance to 'A' from 'A-'. The outlook is 'Stable'...
Article / 2 years ago
Oman: Biggest insurer's purchase of RSA Middle East to have positive impact on profile
AM Best expects a positive impact on the business profile of National Life and General Insurance Company (NLGIC) as a result of the insurer's agreement...
AM Best expects a positive impact on the business profile of National Life and General Insurance Company (NLGIC) as a result of the insurer's agreement...
Article / 2 years ago
Egypt: Financial regulator develops credit rating system for the unbanked
The Financial Regulatory Authority (FRA) is adopting an expansionary strategy to develop non-bank financial activities, by setting the...
The Financial Regulatory Authority (FRA) is adopting an expansionary strategy to develop non-bank financial activities, by setting the...
Article / 2 years ago