Jordan French Insurance Company (JOFICO) has a financial performance that Fitch Ratings views as a rating weakness although it is improving since 2023. Fitch, in a report released yesterday, says that it expects JOFICO to report positive profitability in 2024.
The National Insurance Commission (NAICOM), has signed a memorandum of Understanding MOU) with the Ministry of Youth Development to train 1,000,000 Nigerian youths under a programme tagged, "One Million Youths in Insurance".
GIG-Egypt has a record of generating strong earnings despite the challenging operating conditions and high inflationary environment of Egypt, said AM Best.
The Singapore government has decided that it would not be in the public interest for the proposed S$2.2bn ($1.68bn) sale of a stake in Income Insurance to global insurer Allianz, in its current form, to proceed.
Charles Taylor, an international loss adjusting business, has announced a new associateship with Global Adjusting Technical Services (GATS) in Thailand to meet growing client demand for its breadth of services in the assessment and resolution of large and complex claims.
Fitch Ratings has assigned UAE-based Union Insurance Company a first-time Insurer Financial Strength (IFS) Rating of 'BBB' with a 'Positive' outlook.
Hurricane Milton will push global industry insured losses thus far in 2024 to over $100bn, which is the fifth consecutive year losses have crossed this threshold, Fitch Ratings has forecast.
Public Bank, among Malaysia's top three banks, has entered into a conditional sale and purchase agreement with the Estate of the Late Tan Sri Dr Teh Hong Piow and Consolidated Teh Holdings (ConTeh) to acquire a stake in LPI Capital.
State-owned Société Nationale d'Assurance (SAA or National Insurance), Algeria's biggest insurer, has a track record of stable operating performance, with profit before tax ranging from DZD2.5bn ($22.6m) to DZD3.6bn between 2019 and 2023, translating in a five-year weighted average return on equity of 6.3% (as calculated by AM Best).
Gulf International Services (GIS), one of the leading companies in oil and gas services in the region, has announced that it intends to list Al Koot Insurance and Reinsurance Company (Al Koot) on the Qatar Stock Exchange.