The Saudi insurance market continues to grow strongly in the first nine months of 2024 (9M2024), but performance remains mixed by lines of business, notes Badri Management Consultancy which specialises in actuarial services.
Dubai Insurance Company (DIN), one of the UAE's biggest insurers, has a strong record of underwriting profitability and reported a net insurance service result of AED123m ($33.5m) in 2023 (2022: AED76m) and a combined ratio of 86% (2022: 80%) under IFRS17, says Fitch Ratings.
The Khyber Pakhtunkhwa provincial government will establish a takaful company to operate a proposed universal life insurance scheme.