Saudi Arabia: Tawuniya more than doubles net profit in 2023

Published on March 1, 2024
The Company for Cooperative Insurance (Tawuniya) logged a 103.98% surge in net profit after zakat attributable to shareholders to SAR616.42m ($164.4m) in 2023 from SAR302.19m in 2022, according to
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Fidelis reports stronger combined ratio as FY23 GPW rises to $3.6bn

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Fidelis Insurance Holdings Limited, the Bermuda-domiciled re/insurer, has reported underwriting income of $327.3 million and a combined ratio of 82.1% for the full-year 2023, compared to $120.4 million and a combined ratio of 91.9% a year earlier, driven by premium growth in the specialty segment and significantly lower catastrophes and large losses.Net income for the year was $2.1 billion, which

M&A could be back on the table at Lloyd’s: J.P. Morgan

March 1, 2024
According to analysts at J.P. Morgan, mergers and acquisitions (M&A) could be making a return to the Lloyd’s space.Historically, there was a lot of M&A activity in this market, with analysts highlighting that the number of listed Lloyd’s players reduced from 10 to 3 in 2007.J.P. Morgan analysts believe this trend might be resurfacing, following recent comments from the CEO of Mitsui Sumitomo durin