The UAE insurance sector maintained its recovery trajectory in the first half of 2025, building on the strong 1Q2025 performance and further distancing itself from the stress impact of April 2024 rains, points out Badri Management Consultancy, an international actuarial and risk consultancy firm.
The insurance industry continued its strong upward momentum in the first half of this year, with total premiums rising by 7.0% to MAD34.91bn ($3.86bn) compared to the corresponding half of last year, according to data released by the Insurance and Social Security Supervisory Authority (ACAPS).
Gross written premiums rose by 14.5% y-o-y to AED40.9bn ($11.1bn) in 1H2025, driven largely by a 17.8% increase in property and liability insurance, a 12.7% rise in health insurance, and an 11.2% gain in life insurance and savings.
Health insurance premiums in Saudi Arabia rose sharply by more than 300% between 2009 and 2024. The average annual premium per person tripled to SAR4,511 ($1,203) by the end of 2024 from SAR1,491 in 2009, with expectations that it would reach SAR9,500 by 2030, according to a study by the Argaam news platform.
A new study by Prudential highlighted that insurance is not just a safety net, but a powerful driver of inclusive development and resilience.
Singapore Re has received a revised outlook from AM Best to positive from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICR of "a" (Excellent). The outlook of the FSR is stable.
Investment income is expected to remain the primary contributor toward overall earnings for Ethiopian Reinsurance (Ethio Re), says AM Best. This reflects Ethio Re's low net underwriting leverage and the favourable interest rates offered by domestic issuers in the country.
Jordan's insurance market continued to grow in the first half of this year supported by a notable increase in life and health insurance business, according to statistics published by the industry regulator.
Leading global investment firm KKR has acquired Japanese insurance distributor Hoken Minaoshi Hompo Group. This is expected to accelerate the insurance distributor's growth strategy and unlock new value, including through organic and inorganic growth strategies such as sales enablement and bolt-on acquisitions.
There is a critical gap between retirement aspirations and readiness, with social connections emerging as an unsung hero for a fulfilling later life according to a new survey AIA Live Better Study.