The maritime security landscape in the Middle East has entered a new phase of volatility, with amplified risks for commercial vessels operating in arterial shipping lanes.
Despite headwinds including severe weather and the UAE’s new 9% corporate tax, 78 listed GCC insurers reported a total after-tax profit of $2.1bn in FY2024.
Continued growth of the global sukuk market can be expected, according to a commentary by Fitch Ratings.
Demographic, economic and regulatory developments in Algeria appear to bode well for the country’s insurance market, which looks primed for growth, expansion, foreign investment and profitability, according to a new report from AM Best.
The Shura Council, the upper house of the National Assembly, has passed a proposal to make professional liability insurance compulsory in the healthcare industry.
Solidarity Bahrain has received the Central Bank of Bahrain’s final approval for the acquisition of Bahrain National Insurance Company (BNI) and Bahrain National Life Company (BNL) for a total purchase price of BHD75m ($199m) in cash.
Gross written premiums generated in the insurance market in Egypt reached EGP11.7bn ($232.6m) in January, up from EGP8.4bn achieved in the same month in 2024, according to the Financial Regulatory Authority in its latest monthly publication.
The Central Bank of Jordan (CBJ) has estimated that the increase in motor third-party liability (MTPL) insurance premiums by JOD12 ($17) for drivers who commit traffic violations would raise an additional JOD9.8m ($13.8m) in premiums for insurance companies this year.
Ongoing infrastructure projects contribute to stable insurance growth prospects of about 7%-10% per year, according to S&P Global Ratings credit analyst Emir Mujkic.
The Insurance and Social Security Supervisory Authority (ACAPS) launched the “Emergence” programme to support the digital transformation of the insurance sector.
The House of Representatives has passed the Nigerian Insurance Industry Reform Act Bill, 2025, following in the footsteps of the Senate that did so in December 2024. The vote last month took the Bill one step closer to being signed into law.
The Insurance Committee of the Qatar Chamber views the issue of the pricing of mandatory health insurance as a priority.
Net insurance premiums for insurance companies in Tunisia reached TND3.82bn ($1.24bn) in 2024, up from TND3.45bn in the previous year, a 10.8% increase, according to preliminary figures released by the General Insurance Committee (CGA), the insurance sector’s regulatory authority.
Tunisia has joined the African Trade & Investment Development Insurance (ATIDI) and will participate in its capital, under the terms of an agreement inked on 24 March 2025 between the Tunisian Economy and Planning Ministry and ATIDI.
The insurance industry is projected to increase total premiums by 35-40% in 2025, as inflation slows, according to data from the Insurance Association of Türkiye (TSB).
The government intends to set up a Policyholder Protection Fund (PPF) to serve as a safety net for policyholders in the event an insurance company or pension fund becomes insolvent, in a bid to boost confidence in the insurance sector.
Global
The aggregate market capitalisation (MCap) of the top 25 global insurers grew 17% to $3.5tn y-o-y during the first quarter (1Q2025) ended on 31 March 2025.
Global reinsurers will see a limited hit from declines in global equity markets related to tariffs given their conservative investment portfolios, S&P Global Ratings said in a recent report titled, ‘Global Reinsurers Stand Strong Amid Investment Volatility and Natural Disasters’.
Political risk and violence remain a top 10 global concern for businesses for the third consecutive year with civil unrest, terrorism and state-sponsored sabotage posing significant threats to operations and assets according to the Allianz Commercial report ‘Political violence and civil unrest trends 2025’ published last month.
In a major step toward global collaboration on disaster risk finance, four regional risk pools convened in Frankfurt in April 2025 for a CEO Summit hosted by Frankfurt School of Finance & Management, to put shared commitments into action - backed by a new EUR 4.7m ($5.3m) grant supporting joint solutions, capacity building and knowledge sharing across continents.
The recent stock and bond market volatility stemming from US tariff changes that wreaked financial havoc globally could pressure insurers’ balance sheets going forward, causing unrealised losses in equity portfolios and diminished capital bases, according to a new AM Best report.
Takaful
The adoption of shariah parametric weather index insurance remains nascent in Indonesia compared to traditional takaful and conventional parametric insurance models, Zurich General Takaful Indonesia (Zurich Syariah) president director Hilman Simanjuntak has said.
The Malaysian takaful industry made significant strides in 2024, making a record payout of MYR10.20bn ($2.31bn) to certificate holders, a 16.73% increase from 2023, said the Malaysian Takaful Association (MTA) in a statement released last month.
Takaful Emarat achieved a turnaround in its financial results in 2024 when it reported net profits attributable to shareholders of AED11.2m ($3m) compared to a net loss of AED12.4m in 2023, according to the audited consolidated financial statements of the company.
The Islamic finance industry experienced a rapid asset increase in 2024, mainly from growth in banking assets and sukuk owing to higher foreign currency-denominated issuances.