Neova Katilim Sigorta maintained its leadership in the participation insurance (takaful) market with a contribution volume of TRY6.6bn ($170.8m), representing a 41.2% market share, in the first quarter of this year, according to data released by the Insurance Association of Türkiye (TSB).
Qatar's seven listed insurers have reported a combined net profit of QAR424m ($116.5m) for the first quarter of 2025 against QAR382m for the corresponding period of the previous year, according to corporate disclosures lodged with the Qatar Stock Exchange.
Gross written premiums for Egypt's insurance market in the first two months of this year reached EGP21.3bn ($420m), up from EGP15bn in the corresponding period in 2024, a jump of 40.5%, according to a recent report published by the Financial Regulatory Authority (FRA).
Malaysia's insurance regulator, Bank Negara Malaysia (BNM) has announced two new appointments to the Shariah Advisory Council (SAC), namely Professor Amir Shaharuddin and Professor Abdul Rahim Abdul Rahman.
The need for insurance in the MENA region has never been stronger than it is today -- and that's why the insurance industry is attracting the best of the best at every level across the market.
The Competition Authority of Kenya (CAK) has approved the proposed acquisition of 65% of the issued share capital in Takaful Insurance of Africa by Tamini Insurance unconditionally.
Sukoon Insurance (Sukoon) continues to exhibit above-average operating performance, despite the heavy floods that hit the UAE in 2024, according to S&P Global Ratings (S&P).
The Malaysian takaful industry made significant strides in 2024, making a record payout of MYR10.20bn ($2.31bn) in benefits to certificate holders.
The adoption of shariah parametric weather index insurance remains in its early stages in Indonesia when compared to traditional takaful and conventional parametric insurance models, Zurich General Takaful Indonesia (Zurich Syariah) president director Hilman Simanjuntak has said.
Driven by rising funding needs in many core markets, diversification goals, Islamic investor demand and regulatory reforms, continued growth of the global sukuk market can be expected, according to a commentary by Fitch Ratings.