Reconciling accounts receivable/payable and addressing associated credit risk implications have posed challenges for some insurance companies in Qatar, according to an analysis by Badri Management Consultancy, an international company offering actuarial services, financial services, Strategic HR consulting, data management and business intelligence.
Global sukuk issuances are rising following the US Fed's rate cut to 5% in September 2024, with financing conditions improving, Fitch Ratings says.
Takaful insurance is experiencing fast growth in Algeria, backed by an enabling legislative and regulatory framework. As the sector grows, it is likely that new players will enter the market, driving competition and innovation.
The combined insurance revenue of listed companies and foreign branches saw a 19% surge to AED42.4bn in 2023, compared to AED35.5bn in 2022, under IFRS 17, according to an analysis by Badri Management Consultancy, an international company offering actuarial services, financial services, Strategic HR consulting, data management and business intelligence.
Gulf Insurance Group (GIG) is expected to see its gross written premium remain broadly flat for 2024 but fall in 2025 following the revocation by the Health Ministry of a health insurance contract for retired citizens which had been awarded to the Group, according to AM Best.
The UNDP is working with partners to create the largest partnership of its kind, the Global Takaful Alliance, according to a staement posted on the website of the UNDP Insurance & Risk Finance Facility.
The total profits of the UAE insurance sector amounted to AED2.5bn ($681m) in 2023, compared to AED1.96bn in 2022, according to the Central Bank of the UAE (CBUAE).
Financial resilience is a top priority for the insurance authorities in Türkiye and there are great efforts being made to strengthen the insurance sector, said Mr Davut Mentes, chairman of the Insurance and Private Pension Regulation and Supervision Agency (SEDDK).
The UAE insurance sector reported that written premiums increased by 31.2% year on year (y-o-y) in the first half of 2024 to AED35.7bn ($9.75bn), according to the latest Quarterly Economic Review issued last week by the Central Bank of the UAE (CBUAE).
The insurance company , El Djazair Takaful, has started to distribute its insurance surplus to insured companies and individuals, according to a statement released by the company.