Magazine

Read the latest edition of AIR and MEIR as an Interactive e-book

Jan 2025

Contents

January-Home
Editor's Letter
Magazine article aboutThe-road-to-Damascus

The road to Damascus

Special Focus
Magazine article aboutAs-Syria-is-reborn-insurers-hope-to-follow

Syria

As Syria is reborn, insurers hope to follow

The place for (re)insurance in the new Syria

Syria's insurance sector mirrors systemic collapse

Insurance: Syria's hopes for post-Assad recovery

Insurance 2025 predictions
Magazine article aboutIndustry-challenges-for-2025

Industry challenges for 2025

Challenges and opportunities in Egyptian insurance 2025

Adapt, innovate and thrive

Capacity, pricing and commissions will dominate renewal discussions

Volatility, uncertainty, complexity and ambiguity

Market Profile
Magazine article aboutJordan-insurance-market-would-benefit-from-M-A

Jordan

Jordan insurance market would benefit from M&A

Medical insurance surges amid rising costs

Geopolitics casts shadow on insurance sector

Emerging focus on ESG worries insurance broker clients

Proactive approach to building confidence and trust

Reinsurance: Local expertise, global vision

Jordan takaful market expands with new entrant

Market spotlight
Magazine article aboutHealth-insurance-shines-in-turbulent-Yemeni-market

Yemen

Health insurance shines in turbulent Yemeni market

Yemen insurance growth in time of turmoil

Insurance
Magazine article aboutMarine-insurance-and-decarbonisation-framework

General

Marine insurance and decarbonisation framework

Insurers tackle new risks and shipping challenges

New marine risks in cyber space and shipping lanes

New UAE insurance broking regulations

View from India - India rolls out the red carpet to foreign players

Broking
Magazine article aboutGrowth-opportunities-abound-for-smart-insurance-brokers

Growth opportunities abound for smart insurance brokers

Reinsurance
Magazine article aboutNat-CAT-an-increasing-concern-among-cedants

Nat CAT an increasing concern among cedants

Reinsurance: A need for collaboration

Climate and awareness to shape insurance growth

Saudi Arabia
Magazine article aboutSaudi-Arabia-headlining-GCC-insurance-M-A

Saudi Arabia headlining GCC insurance M&A

MIIA Winners
Magazine article aboutNineteen-winners-centre-stage-at-the-11th-Middle-East-Insurance-Industry-Awards

Nineteen winners centre stage at the 11th Middle East Insurance Industry Awards

Middle East Insurance Industry Awards winners' insights

News

MENA

MENA: MoU to boost financial sector in Morocco and Qatar

MENA: HDI Global launches its Middle East operations

Algeria: Algeria aims for prominent role in trade insurance in Africa and Arab-Muslim world

Algeria: Government to bar use of cash for mandatory insurance premium payments

Bahrain: Medical liability insurance law set to be amended

Bahrain: Lawmakers push for compulsory health insurance for visitors

Egypt: Claims growth exceeds premium increase from 1Q to 3Q 2024

Jordan: Central bank issues draft insurance bill

Jordan: United Nations Development Programme signs MoU with insurance federation

Morocco: ACAPS strengthens its role in international insurance bodies

Saudi Arabia: Insurers must maintain underwriting discipline in 2025

UAE: Medical costs projected to jump by 11.5% in 2025

UAE: Cyber threats rise sharply in 2024, expected to worsen with new technologies

Global

Global: IAIS adopts Insurance Capital Standard to promote resilient insurance sector

Global: Climate change commands over a third of insured weather-losses this century and rising

Global: Politics, innovation to influence insurance sector's fate

Takaful

Egypt: Takaful contributions grew by 36% in 3Q2024

Nigeria: Promising prospects for nascent takaful market

Pakistan: Province to launch takaful provider to run govt-funded life insurance scheme

Saudi Arabia: ICIEC signs strategic reinsurance agreements to boost global trade

UAE: ADNTC preserves A- Excellent rating

Uzbekistan: United Nations Development Programme creating new avenues for takaful

Product Bites

Product bites

Diary
People on the move

People on the move

Market Profile

Jordan

Jordan insurance market would benefit from M&A

Although the sector continues to grow in Jordan, non-traditional and life insurance lines remain underdeveloped, commanding a modest share of the pie. Motor and medical insurance lines continue to dominate the market portfolio, but claims are draining operators’ resources.
 

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Medical insurance surges amid rising costs

Jordan’s life and health insurance sector was shaped by several significant factors in 2024, including regulatory changes, market growth and technological advancements. However, constraints such as unemployment and economic instability persist, according to Metlife Jordan’s Mr Zeid Khamash.
 

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Geopolitics casts shadow on insurance sector

Regional geopolitical challenges have slowed the Jordanian economy, with the International Monetary Fund forecasting GDP will dip to 2.5% in 2025, from the 2.7% recorded in 2023. We examine how the general insurance market fared.
 

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Emerging focus on ESG worries insurance broker clients

Greater global regulation of climate-related risks and environmental, social and governance factors are worrying brokerage clients, according to Guardian Insurance and Reinsurance Brokers and Consultants’ Mr Hany Abboud. This new trend could alter underwriting practices and available coverage.
 

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Proactive approach to building confidence and trust

The Central Bank of Jordan is focusing on reforming professional and ethical practices and rules to build public confidence and trust in insurance. Middle East Insurance Review looks at some of the major steps that the regulator has taken in 2024.
 

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Reinsurance: Local expertise, global vision

Jordan’s market has had to face a complex array of risks in 2024. APEX’s Ms Hanadi Suyyagh says local expertise is being primed to address these challenges by developing bespoke solutions that cater to diverse risk profiles.
 

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Jordan takaful market expands with new entrant

Takaful operators in Jordan have been outperforming their conventional peers in recent years bolstered by fresh interest. The trend has continued into 2024 with contribution growth exceeding the market in the first half. While shariah compliance remains the primary impetus, industry experts say a greater focus on personal lines is necessary for sustained growth.
 

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