The Islamic insurance sector in the GCC will continue to benefit from growth prospects through 2025 and 2026, forecasts S&P Global Ratings (S&P) in a white paper.
Algiera-headquartered national insurer, Central Reinsurance Company (CCR), increased its GWP to DZD50.05bn ($369m) in 2024, 7.5% higher than the DZD46.55bn in 2023, according to financial data released by the company.
Solidarity Bahrain, a leading Islamic insurance provider, has successfully raised BHD12m ($31.8m) through the issuance of Bahrain’s first Shariah-compliant, non-voting, non-cumulative, perpetual Tier 1 capital preference shares.
The Egyptian insurance sector collected EGP56.8bn ($1.2bn) in total premiums in the first six months of 2025, compared to EGP43.6bn during the corresponding half last year, climbing by 30.1%.
While Egypt’s population has reached approximately 108m, according to recent data from the Central Agency for Public Mobilisation and Statistics, the life insurance penetration rate in the local market remains low at less than 1%, compared to the global average of 7-10%.
The Jordan Medical Association (JMA) has said that the digital healthcare platform Hakeem has been integrated with the national billing system, so that doctors billing insurers is now automatic once an insurance claim is filed.
Insurance companies’ premium volume in Kuwait declined by 9% in the fiscal year ended 31 March 2025 (FY2025) with the health insurance branch reporting a notable drop, according to the sector’s regulator.
Arab Reinsurance Company recorded profitable operating results in all the past five years (2020-2024) and generated a robust return-on-equity ratio of 4.7% in 2024, noted AM Best.
The Moroccan Insurance Federation (FMA) has set out several actions on motor insurance which it plans for the second half of 2025.
The Financial Services Authority (FSA), the regulator of the insurance sector in Oman, has confirmed that it had not granted approval to any insurance company to increase mandatory motor third-party liability (MTPL) insurance premiums, according to a post on the regulator’s X account.
QIC Group reported a net profit of QAR383m ($105m) for the first half of 2025, a rise of 6% from QAR360m for the corresponding period in 2024.
A study by the Central Bank of the UAE (CBUAE) has assessed the financial implications of climate-related disasters for the financial system, including the broader macroeconomic impact, losses from business disruptions and insurance sector spillovers.
Atrea Risk Solutions DIFC has chosen Dubai International Financial Centre as its strategic base to serve clients across the MEASA region, according to a post on the LinkedIn account of DIFC.
Global
Global reinsurance giant Swiss Re has emphasised the importance of adopting a holistic understanding of risks and focussing on accumulation management and disciplined underwriting to navigate the current uncertain geopolitical environment.
The reinsurance market is entering a phase of ‘hard market softening’, but the shift is occurring from a position of historical pricing strength. Rates have eased from recent peaks, but remain well above the troughs of the 2010s, says Howden Re in a report titled “Who dares wins: Innovation in an era of hard market softening”.
Tokio Marine GX (TMGX) has been launched as a fully operational underwriting business, marking a significant milestone in providing the market’s most comprehensive suite of specialist insurance and risk management solutions for businesses embarking on their decarbonisation journey.
Takaful
Nasdaq Dubai, an international financial exchange in the Middle East, holds about 31% of global hard-currency sukuk outstanding, giving the UAE a competitive edge within the GCC and core Islamic finance markets, says Fitch Ratings.
The operating performance of Egyptian Takaful Properties and Liabilities Insurance Company (EGTAK) has a five-year (2020-2024) weighted average return-on-equity ratio and combined operating ratio of 24.7% and 98.5%, respectively, says AM Best.
Amana Insurance is set to launch soon, marking a historic milestone in Ethiopia’s financial sector as the country’s first takaful company.
Ghana will introduce its first comprehensive Islamic banking and finance regulations by the end of 2025, according to an advisor to the Bank of Ghana (BoG).
The Shariah-compliant segment of the life insurance sector has posted contributions to IDR11.99tn ($730.4m) in the first half of 2025, according to the Indonesian Life Insurance Association (AAJI).
GIG-Takaful Insurance Company (GTIC), previously known as Gulf Takaful Insurance Company, has announced the completion of a capital increase exercise.
Syarikat Takaful Malaysia Keluarga (Takaful Malaysia), the country’s first Islamic insurer, is expanding beyond its core strengths in credit-related products and motor takaful, to sustain long-term growth.
The National Insurance Commission (NAICOM) has issued a circular that will ban co-insurance arrangements between takaful companies and conventional insurers with effect from 1 January 2026.
The board of directors of UAE-based Islamic Arab Insurance Company (Salama) has adopted a resolution to reduce the issued share capital of the company by AED475,710,293 ($129.5m), according to a statement lodged with the Dubai Financial Market on 11 September.