Africa Specialty Risks launches Lloydâs Syndicate 2454 to expand underwriting in South Africa
Africa Specialty Risks opens Lloydâs Syndicate 2454 to write local South African risks, deepen specialty capacity and expand on-the-ground underwriting
đȘ Middle East & North Africa Insurance News
Kenyaâs Insurance Regulator drafts tighter digital insurance rules as insurtech accelerates
Kenyaâs IRA readies new cybersecurity and data rules, aligning with Africaâs broader insurtech push while supporting digital insurance for underserved groups
FSD Africa sets up $30 mn 3iF fund to back early African insurtech startups
FSD Africa launches a $30 mn Inclusive Insurtech Fund to boost early-stage African insurtech, expand access and spur climate, health and financial inclusion
AXA partners with Old Mutual and EHS to expand international health cover in Africa
AXA teams with Old Mutual Kenya and EHS to grow East Africaâs IPMI market through local underwriting, exclusive distribution and portfolio transfers
Insurtech Policybazaar launches reinsurance across Sri Lanka, Qatar, Oman, UAE
Policybazaar expands into Sri Lanka, Qatar, Oman, and UAE with a tech-led reinsurance model built to speed placements and modernize emerging markets
Omnix Medical secured $25 mn Series C to advance antibiotic resistance therapies
Jerusalem-based Omnix Medical raises $25 mn Series C, led by Harel Insurance & Finance and the EIC Fund, to push Phase II trials of its lead drug OMN6
Egyptâs SehaTech secures $1.1 mn seed to expand AI-powered health insurance
SehaTech raises $1.1 mn seed round led by Ingressive Capital to scale AI health insurance platform, expand regionally, and improve access to coverage
Syria receives $7.9 mn drought payout from Humanity Insured and Allianz
A $7.9m parametric payout will aid 120,000 Syrians hit by severe drought, showing how pre-arranged insurance can deliver fast relief in fragile states
Insurtech Cyata exits stealth with $8.5 mn seed round to secure enterprise AI agents
Cyata, an Israeli cybersecurity startup, has launched publicly with $8.5 mn in seed funding led by TLV Partners. The company targets a growing blind spot in enterprise security: AI agents
Insurer Santam received approval from Lloydâs to establish Syndicate 1918
South Africa-based Santam has received in-principle approval from Lloydâs to establish a London-based syndicate, part of its strategy to expand international operations
InsurTech & FinTech expansion drive growth of Dubai International Financial Center in 2025
The Dubai International Financial Centre (DIFC) recorded its strongest half-year performance to date, led by significant momentum in the insurance and FinTech sectors
Startup Hourly is merging with business insurance provider WeSure Digital
Hourly, a startup providing workersâ compensation, time tracking, and payroll solutions, is merging with small business insurance provider WeSure Digital
Insurance costs for Red Sea shipping soar amid renewed houthi attacks
The cost of insuring vessels transiting the Red Sea has more than doubled over the past week as Houthi forces resumed attacks on commercial ships
Mergers and acquisitions insurance claims reached record levels in 2024-2025
Mergers and acquisitions (M&A) insurance claims reached record levels in 2024, with the highest total payouts ever recorded
Middle East conflict lifts marine insurance war risk rates
The ongoing conflict in the Middle East has prompted many marine insurance underwriters to withdraw coverage for vessels with perceived links to the U.S., U.K., or Israel
Israelâs government-backed insurance scheme absorbs the majority of war losses
S&P has reported that Israelâs government-backed insurance scheme is expected to absorb the majority of losses linked to the ongoing conflict with Iran
Reinsurance strength and risk management key for insurers amid Iran-Israel War
Morningstar DBRS has warned that insurers with strong reinsurance protection, conservative investment portfolios, and active enterprise risk management (ERM) frameworks
United Risk Global finalized its acquisition of Pinnacle Underwriting
United Risk Global has finalized its acquisition of Pinnacle Underwriting, an Australian managing general agent specializing in facultative reinsurance
EMEA insurers maintain strong capital positions and buffers
Insurers based in Europe, the Middle East, and Africa (EMEA) maintain strong capital positions and buffers, enabling them to absorb external shocks effectively
Bupa CareConnect signs four strategic partnerships with global healthtechs
Bupa CareConnect, the Kingdomâs leading cooperative health insurance provider, announced the signing of four strategic partnership agreements with global health tech companies
Markel acquires Marine MGA Meco Group, expanding global marine capabilities
Markel, the insurance division of Markel Group, has agreed to acquire Meco Group, a specialist marine managing general agent
SMBC ends Irish court battle over stranded aircraft in Russia, nears final insurer settlements
SMBC Aviation Capital has dropped litigation in an Irish court against some insurers over aircraft stranded in Russia. The company said it reached confidential commercial settlements
Bayer and Insurtech Pula plan to insure 10 million farmers in Africa
Bayer Foundation and insurtech Pula plan to insure 10 million smallholder farmers in Africa by 2030. This initiative protects farmers from climate risks
Africa Specialty Risks launched Africa Specialty Risks Mauritius as a Lloydâs company
Africa Specialty Risks (ASR), a prominent (re)insurance group targeting Africa and the Middle East, has launched Africa Specialty Risks Mauritius as a Lloydâs service company
Dubai Aerospace Enterprise received $201 mn insurance claims for aircraft in Russia
Dubai Aerospace Enterprise (DAE) reported receiving $201 mn in settlements over the past three months for aircraft previously leased to airline carriers in Russia
Insurtech startup Amenli secured $2.3 mn in funding
Cairo-based insurtech startup Amenli has secured $2.3 mn in funding to support its expansion and enhance its offerings. The round was led by the European Bank for Reconstruction
Africa Specialty Risks expands Lloydâs reinsurance market access for Africa
Africa Specialty Risks (ASR) announced that its United Kingdom-based unit, Africa Specialty Risks Ltd., now operates as a Lloydâs service company
Israeli travel insurtech Faye raised $31 mn in Series B funding
Israeli travel insurtech Faye raised $31 mn in Series B funding, bringing its total funding to $49 mn
PERILS estimated final insurance industry loss for the Kahramanmaras Earthquake
PERILS released its fifth and final loss estimate for the Kahramanmaras Earthquake Sequence on 6 February 2023. This disaster impacted large areas
Insurtech ZA Tech, rebranded as Peak3, raised $35 mn Series A
ZA Tech, the insurance core system SaaS provider, has rebranded as Peak3 and has raised a $35 mn in Series A funding led by EQT and Alpha JWC Ventures
Insurtech Habit launched a Habit Bill Protection Insurance
Habit, a Portuguese insurtech specializing in embedded insurance and digital distribution, has launched a new product: Habit Bill Protection Insurance
Appian integrated with Swiss Re’s automated life insurance underwriting in EMEA
Appian, in collaboration with Swiss Re, announced the expansion of the Connected Underwriting Life Workbench to select countries in Asia Pacific, Europe, the Middle East
Storms and flooding in Asia/UAE causing significant insured losses
Heavy rainfall, storms, and widespread flooding hit Southwestern Asia, notably the United Arab Emirates, in April, causing significant economic and insured losses
Israeli startup Hailo extended its Series C with $120 mn for running generative AI
Israeli startup Hailo has extended its Series C with $120 mn to develop specialized chips for running generative AI tasks locally
Insurtech mTek raised $1.25 mn to boost expansion in African markets
Kenyan Insurtech mTek has sequred $1.25 mn in funding to boost its expansion efforts within the Kenyan and East African insurance markets
Saudi insurance market will consolidate in 2024 and 2025
The Saudi insurance market is expected to see further consolidation in 2024 and 2025 on the back of the ‘2030 Saudi Vision’
PERILS updated loss estimate for Kahramanmaras Earthquake to $6.2bn
PERILS updated its fourth loss estimate for the Kahramanmaras Earthquake of 2023 which affected large parts of south-central Turkey
Insurtech OneDegree received new investment for digital asset insurance in UAE
Hong Kong-based crypto assets insurtech OneDegree announced it had received an undisclosed investment amount from Dubai Insurance
Aon announced an increase crop insurance capacity across Africa
Aon announced a collaboration with the African Development Bank (AfDB) and Amini, a leading innovator in space technology and artificial intelligence
Verisk Maplecroft launched a predictive strikes & riots data model
Verisk Maplecroft, the risk intelligence business arm of Verisk, has launched a new predictive strikes, riots, and civil commotion (SRCC) data model
Egypt will launch the insurance pension policy in US dollars
The Egyptian Financial Supervisory Authority has announced the details behind launching the first insurance pension policy in US dollars
African Risk Capacity Group launches a parametric insurance for Africa
The African Risk Capacity (ARC) Group is launching a new insurance mechanism for African countries to cope with the devastating effects of flooding
New estimate of the insured loss from Earthquake in TĂŒrkiye & Syria by PERILS
PERILS disclosed its initial industry loss estimate for the Kahramanmaras Earthquake which widespread devastation across several regions of TĂŒrkiye and Syria
Middle Eastern insurance market: Fitch Ratings Outlook
Middle Eastern insurersâ company profiles are heavily influenced by the regional industry profile and operating environment (IPOE) ranges
Insurtech Kirontech tackles fraud & waste in medtech & scaling strategy
Medtech and insurtech company Kirontech, has announced the launch of its growth capital fundraise to help accelerate its goal of fixing the $1.2 bn problem
Total insured losses from Turkey Earthquake estimated $2.4 bn, property losses $20 bn
Total property losses from the M7.8 and M7.5 earthquakes are expected to be close to $20 billion, with the M7.8 earthquake accounting for the bulk of those losses
Israeli insurtech OpenEyes raised $18 mn in Series A funding led by Insight Partners
OpenEyes, an Israeli insurtech startup targeting commercial automotive fleets, has emerged from stealth with $18 mn in Series A funding led by Insight Partners
Insurance losses of earthquakes in Turkey & Syria will be in the $5 bn, economic losses $10 bn
Insurance losses relating to the series of earthquakes in Turkey and Syria are expected to be in the billions of dollars
Israeli startup Guardz sequred $10 mn led by Hanaco Ventures
Israeli cybersecurity startup Guardz has emerged from stealth with $10 million in backing from Hanaco Ventures, iAngels, GKFF Ventures, and Cyverse Capital.
Powerful earthquakes in Turkey & Syria could result in $1 bn of losses & 2,600 people killed
A huge earthquake killed more than 2,600 people across a swathe of Turkey and northwest Syria on Monday, with freezing winter weather adding to the plight
Saudi launched the Unified Compulsory Motor Insurance Policy
The Saudi Central Bank (SAMA) has introduced new amendments to the Unified Compulsory Motor Insurance Policy, allowing an option of repairing the vehicle instead of… Read More »Saudi launched the Unified Compulsory Motor Insurance Policy
TĂŒrkiye introduces a new insurance requirement for arriving travelers & immigrants
To discourage irregular migration, TĂŒrkiye is expected to implement a new insurance requirement for anyone arriving in TĂŒrkiye with a permit
25% of Russian crude oil ships insured by western insures
25% of Russian seaborne crude oil shipments since restrictions started on December 5 were insured by western insurance companies
UAE moves to Compulsory Health Insurance
According to UK Home Insurance Consumer Research Report by Research & Markets, the first thing that a consumer looks at when choosing home insurance is price
M&A insurance market in Middle East is still very active
Regulators seeking further consolidation and international exits or strategic acquisitions will be key drivers.
Dubai International Financial Centre granted an licence to Sukoonâs Syndicate 2880
Dubai International Financial Centre (DIFC) has granted an operating licence to Sukoonâs Syndicate 2880, making it the first syndicate-in-a-box
Nigeria launches a risk transfer scheme of parametric flood insurance
Flood risk capacity development for Nigeria within the underwriting community will be key in developing appropriate flood risk models and products
Israeli insurtech Spott launches Pay-As-You-Sell insurance
Israeli insurance startup Spott announced the launch of its Pay-As-You-Sell liability insurance, allowing ecommerce sellers to pay insurance premiums
Insurance and financing becomes important in managing catastrophic risk for Egypt
Re/Insurance and other risk transfer and financing mechanisms will become increasingly important in managing catastrophic risk as countries transition to more climate-resilient
85 insurers in Africa pledge $14bn of cover to take up floods and tropical cyclones
A group of over 85 insurers in Africa have pledged to create a financing facility to provide $14 billion of cover to help protect 1.4 billion people
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JWC expanded its Black Sea Listed Area, increasing war risk exposure for ships and adding insurance costs across Ukrainian and regional routes
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