Saudi Re completes the sale of its stake in Probitas for £123mln
Saudi Reinsurance Company "Saudi Re" has completed all procedures for the sale of its entire 49.9% stake in Probitas Holdings…
Insurance
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Allianz Egypt appoints Charles Tawdros as new CEO of the Group
Allianz Egypt has announced the appointment of Mr. Charles Tawdros as the new CEO. This strategic decision reflects the company's…
Growth in insurance revenue by 79% in the first quarter of this year
Confirming its confidence in the company’s new management approves a total capital increase of AED 185 million, bringing the total…
HAYAH Insurance unveils report on insurance, health, life, and AI in the UAE
HAYAH Insurance, an insurance provider in the UAE, has unveiled Rihla by HAYAH, a report focusing on the intersection of…
Baker McKenzie advises Allianz Group on the sale of its stake in Allianz Saudi Fransi Cooperative Insurance Co. to ADNIC
Baker McKenzie has advised Allianz Group, one of the world's leading insurers and asset managers, on the sale of its…
Saudi insurers lead GCC region in net profit and revenues, study shows
The net profit of insurance companies in Saudi Arabia surged by 1,221.3 percent year-on-year in 2023 to $861 million, driven…
UAE puts consumer rights as high priority as Central Bank opens 'Sanadak' ombudsman unit
UAE’s focus on consumer rights has taken another major step, with the full-scale launch of a new unit under the…
UAE: New life insurance scheme announced for Indian workers
A new insurance scheme for Indian workers has been announced in the UAE, ensuring that their families will get compensation…
Africa Specialty Risks doubles parametric capability
Africa Specialty Risks has formed a “landmark” parametric reinsurance partnership with a leading European reinsurer, to increase its coverage for…
Qatar General Insurance and Reinsurance sees net loss in 2023
Qatar General Insurance and Reinsurance has announced its 2023 financial results reporting a net loss of nearly QR 1.465bn, compared…
UAE Central Bank issues $327,000 fine to insurance company
The Central Bank of the UAE imposed a financial sanction on an insurance company operating in the country. The…
CBUAE cancels the licence of first insurance brokers company
The Central Bank of the UAE has cancelled the licence of First Insurance Brokers Company (First Insurance), an insurance company…