Saudi Arabia: Insurance sector's net profit jumps by 15% to US$800m in first 3 quarters

Published on November 1, 2024
The insurance industry's profitability (after-zakat & tax) in the Kingdom of Saudi Arabia (KSA) stood at SAR3.0bn ($800m) in the first nine months of 2024, growing by 15% from SAR2.6bn in the
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Marsh names Lang Digital Leader, Marsh Specialty and Global Placement

November 1, 2024
Marsh, insurance broker and risk advisor and a business of Marsh McLennan, has announced the appointment of Christopher Lang as Digital Leader, Marsh Specialty and Global Placement, a newly created role, effective November 1.Based in New York and reporting to Pat Donnelly, President, Marsh Specialty and Global Placement, Lang will lead Marsh’s digital strategy for global insurance placement, aimin

Tiptree posts $12m net income in Q3’24 driven by growth in insurance business

November 1, 2024
Holding company Tiptree has reported a net income of $11.9 million for the third quarter of 2024, up from $2.2 million in Q3 2023, driven by growth in its insurance business.Adjusted net income reached $27.9 million, a 55.9% increase from $17.9 million in Q3 2023, due to higher insurance revenues and a stable combined ratio.Total revenues for the quarter were $494.4 million, an 18.7% year-over-yea