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Magazine

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

Apr 2025

UAE

Insurance broking reform increases both scrutiny and opportunity

Market in growth mode

Risk-based solvency and financial health of insurers

Profitability within reach for brokers despite headwinds

Rethinking UAE Nat CAT preparedness

Regulatory initiatives to drive health segment

Life insurance at an inflection point

UAE motor insurers adapt to changing market dynamics

Takaful can appeal to expatriates too

Brokers & MGAs

MGAs power DIFC dominance in MEASA

Regulatory shifts an opportunity for reinsurance brokers

How MGAs bridge insurers and emerging niche risks

MGA incubators set to debut in MENA

The cascading effect of geopolitical risks in aviation underwriting

MGAs offer (re)insurers both lower prices and risk

Brokers: Clients' new allies in battle for talent

Diverse risks, diverse specialties

Insurance

General

Microinsurance: The power of regulation and data

AI in GCC insurance: Gaps in awareness

The digital transformation of travel insurance

Will air pollution dictate health insurance premiums?

Takaful

Creating a sustainable takaful ecosystem

Reinsurance

Tightening reinsurance markets warrant insurer diversification

Insurers brace for improved longevity

Sustainability

Poseidon Principles raises bar for marine insurers

Renewables insurance: Supporting MENA's energy transition

Greener horizons for Middle East insurers

Notebook

Anoud Tech: Transforming the Insurance Industry Through AI

News

MENA

MENA: Active Re reports strong financial results for 2024

MENA: Bajaj Allianz General Insurance announces Global Insurance Excellence Awards with Asia Insurance Review

MENA: Liva and Relm forge partnership to support emerging and innovative sectors

GCC: Health insurance expected to be factor driving growth in healthcare industry

GCC: Qatar Insurance Group makes strategic investments in InsurTech startups

Algeria: Algeria ministry of finance licenses four new insurance brokers

Bahrain: Takaful International's net profit rises by 9% in 2024

Bahrain: Arab Insurance Group posts higher profits in 2024

Egypt: Regulator raises microinsurance coverage ceiling by 25%

Egypt: Insurance Federation and regulators to develop smart ship framework

Jordan: Solidarity inks bancassurance agreement with Islamic International Arab Bank

Jordan: Premium volume in 2024 surpasses record-breaking $1bn mark

Kuwait: Kuwait Re reports 30% jump in profit in 2024

Lebanon: GlobeMed Lebanon and Libano-Suisse Insurance win health insurance contract covering 125,000+ beneficiaries

Morocco: Insurance market grows to $6bn in GWP in 2024

Morocco: Insurance federation head urges single African market

Nigeria: Insurance regulator NAICOM calls on insurance industry to develop cyber insurance

Nigeria: FITC highlights growth, tech and penetration challenges in Nigeria insurance market

Oman: Oman Re's 2024 reinsurance revenue and after-tax profits jump by nearly 20%

Saudi Arabia: Saudi Re reports record profit, plans capital increase

Saudi Arabia: Tawuniya net profit jumps by 66% in 2024

Türkiye: Market growth of 72.5% in 2024

UAE: Orient Insurance's net profit climbs by 15% to $199m

UAE: DIFC celebrates 20th anniversary with strong growth momentum

UAE: Sukoon set to tap government's insurance initiatives for growth

UAE: Nas Neuron Health Services unveils new brand identity and unified digital experience

Global

Global: Geopolitical tensions, increased protectionism destabilising supply chains in 2025

Global: Structured credit and political risk insurance market capacity rises to meet demand

Global: ILS market posts stellar returns again in 2024

Global: Lloyd's reports sustainable, profitable performance in 2024

Takaful

Egypt: Takaful market grows faster than conventional business in 2024

Indonesia: Growth of family takaful business outpaces that of conventional life insurance in 2024

Pakistan: Rule changes provide for takaful windows to disclose results in financial statements

Pakistan: Salaam Family Takaful, Dubai Islamic Bank to offer innovative shariah-compliant financial solutions

Qatar: Doha Takaful to become a listed provider

Saudi Arabia: Al Rajhi Takaful maintains stable net profits in 2024

Türkiye: Neova achieves substantial growth in 2024

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

Role of LLMs in the Saudi insurance and InsurTech sector

Source: Middle East Insurance Review | Feb 2025

The insurance industry in Saudi Arabia is undergoing a significant transformation, driven by advances in technology. As the sector seeks to enhance operational efficiency, improve customer experiences and innovate product offerings, understanding the current landscape of large language models (LLMs), their applications and their impact is crucial. Celent’s Mr Juan Mazzini walks us through LLMs and their potential to offer better outcomes for companies and customers.

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