UAE: Profit of takaful sector hit by investment performance in 2022

Published on January 17, 2024
Takaful insurance companies posted an overall loss of AED14m ($3.8m) in 2022, contrasting with a profit of AED93m in 2021, according to the Central Bank of the UAE (CBUAE).
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GCC: GIG Gulf launches innovative online motor insurance solution for micro-SMEs across the region

January 17, 2024
GIG Gulf, one of the largest insurance providers in the MENA region, has announced the launch of an online capability aimed at simplifying and streamlining motor insurance purchases for micro-SMEs in

AM Best assigns stable credit ratings to PanAsia Re

January 17, 2024
Global credit ratings agency AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to PanAsia Reinsurance Inc. (PanAsia Re), with the outlook assigned to these Credit Ratings being stable.According to Best, the ratings reflect PanAsia Re’s balance sheet strength, which the agency assesses as very strong.The agency also cited the