Oman Re’s reports GWP Growth of 11% for 2021
Oman Re, the Sultanate’s first and only reinsurer, reported Gross Written Premium (GWP) of OMR 27.6m (USD 71.7m) for the year end 31 December 2021, representing a 11% rise compared to previous year’s OMR 24.8m (USD 64.3m), thus demonstrating a Compound Annual Growth Rate (CAGR) of 23.9% from yea
Allianz’s US $ 235 M bid for Greece’s European Reliance
Allianz on Friday said it will pay about 207 million euros ($235 million) to acquire Greek insurer European Reliance, a move that will create the country’s fifth-largest insurer based on gross written premiums. The 7.80 euros per share bid represents a 15.7% premium to Friday’s closing p
Zurich Insurance Upbeat after 2021 Profits Beat Expectations
Zurich Insurance is likely to see continued revenue and profit growth in the next two years, its CFO said, after the insurer reported its biggest annual profit since the financial crisis. Zurich Insurance, Europe’s fifth-largest insurer, reported a 35% increase in 2021 operating income to $5.7
Continental Reinsurance Calls for Entries for its Journalism Awards 2022
Now in its 7th successful year, English, French, and, for the first time, Arabic entries are to be received between November 1st, 2021, and January 31st, 2022.Sponsored by Continental Reinsurance, the Pan-African Re/Insurance Journalism Awards recognize the outstanding work of journalists on re/insu
European Reinsurance Rates Rise by 50% at Jan 2022 Renewals
Some European property reinsurance rates rose by more than 50% at Jan. 1 renewals after the region suffered record insured losses last year from natural catastrophes such as floods and storms. Flooding during July in Germany, Austria, Belgium and Switzerland caused over 12 billion euros ($13.55 bill
HSBC gets Approval to buy out China Life Insurance Joint Venture
HSBC (HSBA.L) said on Thursday it had received regulatory approval in China to take full ownership of its life insurance joint venture in the country, as it continues to expand its non-core banking services. HSBC has got clearance from the Shanghai office of the China Banking and Insurance Regulator
A Unique Campaign for Private Motors by Vision Insurance
Vision Insurance recently launched an attractive Motor Third Party Insurance campaign for private vehicles under the slogan of: “More than Third Party insurance!”. The campaign is an initiative to show the company’s commitment toward the corporate social responsibility programs in
OMAN Re’s Gross Written Premium up by 11% in Third Quarter
Oman Re, the Sultanate of Oman’s sole reinsurer reported Gross Written Premium (GWP) of OMR 24.1 million [USD 62.7 million] as of 30 September 2021, which is higher by 11% compared to OMR 21.8 million [USD 56.7 million] during for the same period last year. Oman Re’s investment income increased
ICIEC Signs MOU with Japan’s NEXI
The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), the export credit and investment insurance agency of the Islamic Development Bank (IsDB) Group, has signed yesterday a landmark Memorandum of Understanding (MoU) with Nippon Export and Investment Insurance (NEXI), the