Moody’s Ratings says Gulf insurers will benefit from solid economic growth and stronger demand for health and life cover, but warns that smaller firms may struggle with competition, regulation and capital strain
insurance industry
Latest in insurance industry
insurance industry
Salama ties up with Policybazaar.ae for its Life Takaful insurance
The collaboration enables wider reach and easier access for its Shariah-compliant life insurance offerings
insurance industry
UAE pet insurance: Is it really worth it? Experts weigh in
With veterinary costs rising and more residents embracing pet ownership, insurance is becoming a growing consideration for UAE pet parents – but is it worth the cost?
insurance
Saudi insurance sector records $960m profit in 2024
Saudi insurance market records growth as regulations support market
insurance
Saudi Insurance Authority proposes expanded coverage for vehicle lessees, drivers in draft law amendments: Report
The proposed draft aims to protect the rights of the insured and further improve the vehicle insurance sector
Dubai
Continental Group reports 26% insurance premium growth in 2024, expanding total active insurance coverage to $6.9bn
Continental Group’s role in ensuring financial stability was underscored by the processing of $7.4 million in claims in 2024
Aviation
Flyadeal introduces new travel insurance packages from $3
Flyadeal expands offering with affordable travel insurance cover for passengers
gcc insurance sector
Saudi insurance sector thriving as revenue surged 16.9% last year
Saudi insurance sector assets hit $22.6bn in 2024
insurance
Orient Insurance announces official launch in Saudi Arabia
The inauguration of Orient Insurance’s offices in Al Ghadir, Riyadh, marks the company’s expansion into the Saudi market
Abu Dhabi
Abu Dhabi’s ADGM announces plans to establish insurance association to support industry growth
The initiative represents a significant milestone in advancing the insurance and reinsurance sectors in Abu Dhabi Global Market and the UAE.
insurance
Saudi insurers’ profits shift to top 5 firms as smaller rivals struggle: Report
The S&P report forecasts that top-line growth in Saudi Arabia’s insurance sector will moderate to about 10-15% in 2025
CBUAE
UAE insurance sector profits hit $681m in 2023: Central Bank
Central Bank data points to significant uplift in UAE insurance profits, with Dubai leading the way
CBUAE
UAE insurance sector growing with premiums up 31% to $9.72bn in H1
The UAE insurance sector has witnessed ongoing growth in the first half of the year, according to Central Bank data
auto insurance
UAE insurance firm announces first flood and storm damage policy
UAE introduces third-party protection from floods and storms for motorists
Cyberattack
Relm taps web3 cybersecurity firm CyVers for implementing security measures
The CyVers platform addresses complex security challenges such as scams, fraud, and compliance threats unique to Web3
DFSA
Bermuda’s Relm Insurance strengthens MENA presence through B&F Partners acquisition
Following the acquisition, the company has changed its name to Relm Insurance MENA Ltd
Health insurance
GCC insurance industry poised for accelerated growth in the next five years: Report
According to the report, Saudi Arabia surpassed the UAE to become the largest insurance market in the GCC in 2022, driven by massive infrastructure development and an increasing demand for motor and medical insurance
