The Company for Cooperative Insurance (Tawuniya), among the top three insurers in Saudi Arabia, has posted a nearly 30% increase in GWP in the first half of this year to SAR6.73bn, compared to SAR5.19bn in 1H2021, according to the company's interim condensed consolidated financial results.
Housing Bank has announced that it is raising the insurance premium for cover related to housing loans, a move which is welcomed by insurers.
The Financial Regulatory Authority (FRA) hopes to double penetration in the next four years, as part of the its drive to increase financial inclusiveness, according to Mr Hesham Ramadan, assistant to the FRA chairman.
Gulf Insurance Group (GIG), one of the MENA region's biggest insurance groups, has announced a net profit of KWD15m ($48.9m) for the first half of 2022, an increase of 27% over the corresponding half of last year.
The Financial Regulatory Authority (FRA) has announced said that it is studying an offer by GIG Insurance Company-Egypt, to acquire the equity shares of AIG Egypt Insurance Company.
The Australian Prudential Regulation Authority (APRA) has said that despite the impacts of significant weather-related events, the Australian general insurance industry remains well capitalised.
The insurance market in Egypt saw total premiums climb by 13.1% to EGP27.8bn in the first half of this year compared to about EGP24.5bn in the corresponding half of last year, according to statistics from the Egyptian Financial Regulatory Authority.
Doha Insurance Group has seen its gross written premium (GWP) climbing by 49% to QAR859m ($236m) and net profit jumping 48% to QAR60mn in the first half of the year, driven mainly by growth in sales, claims control and diversification in underwriting.
Insurance companies in Cameroon recorded an increase in turnover of CFAF46.7bn ($73.1m) between 2015 and 2021, according to data from the Association of Insurance Companies of Cameroon (ASAC).
The estimated insurance losses from the unexpectedly severe floods earlier this month in South Korea will place pressure on the financial performance of the country's non-life insurers, Fitch Ratings says.