Egypt: GIG's stake in AIG Egypt exceeds 97%

Published on March 1, 2024
The Egyptian Exchange (EGX) has disclosed that the AIG Egypt Insurance shares offered in response to Gulf Insurance Group's (GIG) mandatory offer to purchase shares in the former numbered 32,608
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Combination of factors led to a “strong recovery” in reinsurance capital in 2023: Fitch

March 1, 2024
According to analysts at Fitch Ratings, the combination of a strong earnings generation, the stabilisation of financial markets, and the move to the accounting standard IFRS17 of major reinsurers, has led to a “strong recovery” in reinsurance capital in 2023.Fitch said that it expects it to have grown by 11% to reach around USD 535 billion, by end-2023, partially reversing the losses seen in 2022.

Core Specialty announces Specialty Markets Group transfer from American National

March 1, 2024
American National Group is to transfer Specialty Markets Group (SMG), a writer of credit-related insurance products based in the US, to Core Specialty.Mark Walker will join Core Specialty as President of the newly formed Financial Services Division, which will operate as Core Specialty’s 16th specialty business unit within its Bond, Credit & Guarantee subsegment.This subsegment is comprised of the