UAE: Union Insurance announces capital reduction procedures

Published on June 24, 2025
Union Insurance Company will be reducing its capital by 30.50% to AED230m ($62.63m) from AED330.93m to offset accumulated losses amounting to AED142.75m, the company said in a statement lodged with
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Citizens secures $4.49bn risk transfer target for 2025 with lower ROL for new reinsurance

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Florida’s Citizens Property Insurance Corporation, the state’s insurer of last resort, has cited favourable market conditions as it was able to successfully place its target risk transfer programme of $4.49 billion for the 2025 wind season, which includes $2.89 billion of new coverage from the traditional reinsurance and capital markets.Back in April, the Citizens Board approved the carrier to loo

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