Sukoon Insurance, one of the biggest insurers in the UAE, has chalked up profit before tax of AED141.7m ($38.6m) in the first quarter of this year, a 24% jump year-on-year, driven by an improved operational performance and a prudent income-focused investment portfolio.
Mr Kevin Rethual has been appointed CEO of Munich Re Retakaful, effective 1 June 2026. He will be based in Malaysia and report to Owais Ansari, Head of Regional Market Reinsurance MEA Munich Re.
Middle East Insurance Review (MEIR) has opened nominations for the prestigious Middle East Insurance Industry Awards (MIIA) for this year-which is the 13th annual edition.
Al-Etihad Cooperative Insurance has announced the appointment of Mr Tareq Fahad Bouresly as Managing Director of the company for a six-month period.
The Bank Negara Malaysia (BNM) has imposed Administrative Monetary Penalties (AMP) of MYR1.04m ($218,400) on Zurich General Insurance Malaysia (ZGIM) and MYR520,000 on Zurich General Takaful Malaysia (ZGTM). The sanctions stem from the Zurich companies' failure to comply with requirements relating to targeted financial sanctions (TFS).
Watania International Holding has appointed Mr Anuj Agarwal as CEO, effective 20 April 2026.
Salama Islamic Arab Insurance Company (SALAMA) has completed its capital restructuring programme, marking the conclusion of a multi-year transformation and the re-establishment of the company's financial strength.
The combined profit after tax of the eight listed companies surged by 414% to OMR34m ($88.5m) from 2025 from OMR6.6m in 2024, according to an update by BADRI Management Consultancy.
The Saudi authorities have launched Ta'amman, the first independent digital platform dedicated to raising insurance awareness across all segments of society.