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Magazine

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

Oct 2025

October-Home

Editor's Letter

The hidden appeal

Education and training

Empowering tomorrow's actuaries: Strategy, skills, and Saudi vision

From classroom to boardroom: Middle East insurance industry embraces training

Market Profile

Saudi Arabia

Saudi insurance industry poised for accelerated growth

Reinsurance optimisation in Saudi Arabia: Actuarial insights from 2024 Reinsurance Adequacy Review

InsurTech story in Saudi Arabia is just beginning

Motor insurance penetration rate hits 76%

Market spotlight

India

Insurers are renewing themselves to insure rapidly growing renewable energy sources

New kid on the block to shake up India's reinsurance market

Indian insurers are the first choice of Indian expats in Gulf region

Indian insurers in the GCC: Early advantage, Growing competition

Notebook

The power of continuity

Shaping tomorrow: APEX calls for bold action to ignite MENA market growth

Mobility in transition: 5 trends are changing the industry's risk profile

FAIR: Africa, Asia join forces for insurance transformation

Under one umbrella, business looks at a multi-pronged market approach

News

MENA

GCC: Growth in earnings of listed insurers muted by Saudi market downturn in 1H2025

GCC: Robust growth expected for Islamic insurance in 2025-26 amid profit challenges

Algeria: Reinsurer posts solid 7.5% profit growth in 2024

Bahrain: Solidarity Bahrain pioneers Shariah-compliant Tier 1 preference share offering

Egypt: Insurance premiums surge 30% in 1H2025

Egypt: Life insurance penetration remains low amid population growth

Jordan: Digital platform integrates health insurance claims with national billing system

Kuwait: FY2025 insurance premiums fall 9% y-o-y

Lebanon: Investment income expected to remain strong contributor to Arab Re's earnings

Morocco: Insurance federation prioritises motor insurance modernisation in 2H2025

Oman: Regulator blocks unauthorised motor insurance premium increases

Qatar: QIC Group reports 6% rise in net profit for 1H2025

UAE: Central bank assesses implications of climate risks on financial sector

UAE: New reinsurance broker establishes operations at DIFC

Global

Reinsurance: Holistic approach needed to maintain resilience in a complex risk landscape

Reinsurance: Who dares wins-Innovation in an era of hard market softening

Marine insurance: Globalisation slowdown heralds "brave new world", warns IUMI president

Green energy: Tokio Marine launches unified platform for green transition insurance

Takaful

Global: Nasdaq Dubai has edge in hard-currency sukuk in core Islamic finance markets

Egypt: General takaful co remains profitable despite tough macroeconomic conditions

Ethiopia: Amana Insurance to become the country's first fully interest-free insurer

Ghana: Authorities to introduce takaful and other Islamic finance regulations by end-2025

Indonesia: Family takaful shows robust growth in 1H2025

Kuwait: GIG-Takaful Insurance completes US$23m rights issue

Malaysia: Major takaful player to diversify products for market leadership

Nigeria: Regulator to ban co-insurance between takaful and conventional insurers wef 1 Jan 2026

Turkiye: Growth of takaful sector mirrors expansion of overall insurance market

UAE: Salama board approves company's capital restructuring

Product and Alliances

Products and alliances

Diary

People on the move

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

The reality of growing an insurance business in Saudi Arabia

By Paul McNamara -

Source: Middle East Insurance Review | Aug 2024

There is little doubt that Saudi Arabia is the market to watch in the MENA region as the momentum of diversification away from dependence on hydrocarbons picks up pace. To find out what effect this is having on a leading insurer in the kingdom, we caught up with Walaa Insurance Company’s Mr Johnson Varughese.

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