Tag: insurance

  • ECI awards advisory contract to EY

    ECI awards advisory contract to EY

    Etihad Credit Insurance (ECI), the UAE Federal export credit company, on Wednesday announced that it has awarded an advisory contract to Ernst & Young (EY), a global leader in assurance, tax, transaction, and advisory services. “EY takes pride in contributing towards the vision of the UAE leadership and we look forward to making a positive […]

  • Kuwait’s Enaya Insurance picks Beyontec Suite

    Kuwait’s Enaya Insurance picks Beyontec Suite

    Enaya Insurance Company, a leading Insurer in Kuwait, and part of Alghanim Industries, one of the largest privately-owned companies in the region, has selected Beyontec Suite to manage its core life and medical insurance business. The Kuwait insurance industry is in a growth phase with the introduction of new legislative frameworks and the increase in […]

  • Enaya Cooperative’s EGM nods to SAR 200m capital hike

    Enaya Cooperative’s EGM nods to SAR 200m capital hike

    Saudi Enaya Cooperative Insurance Company (Enaya) on Thursday said that its shareholders had approved raising capital by 200% to SAR 300 million, from SAR 100 million via right issue shares during an extraordinary general meeting (EGM) held the previous day. Entitlement of dividends shall be for the shareholders who own shares at the end of […]

  • Mohandes Insurance profits rise to LE40 m ending Sept 2018

    Mohandes Insurance profits rise to LE40 m ending Sept 2018

    Mohandes Insurance company (MOIN) announced in a statement sent to EGX, the audited financial results for the fiscal period starting July 1, 2018, and ending September 30, 2018. The company posted consolidated net profits of LE39,586,835, versus net profits of LE32,629,362 in the same period a year ago, taking into account the minority rights. Moreover, […]

  • Tawuniya turns to loss in Q3 on higher claims

    Tawuniya turns to loss in Q3 on higher claims

    The Company for Cooperative Insurance (Tawuniya) on Sunday reported turning to loss in the third quarter of 2018, against generating a profit during the year-ago period. The Saudi Arabia-based insurer suffered a net loss of SAR 22.87 million ($6.10 million) before calculating Zakat during Q3-18, against a profit of SAR 159.71 million ($42.58 million) in […]

  • Saudi Re generates SAR 24m profit in 9M

    Saudi Re generates SAR 24m profit in 9M

    Saudi Re for Cooperative Reinsurance Co on Sunday announced that it turned a profit in the third quarter of 2018, against suffering a loss during the year-ago period. Saudi Re posted a net profit of SAR 10.03 million before calculating Zakat by the end of Q3-18, against incurring SAR 271,290 in losses during Q3-17, according […]

  • MedGulf incurs SAR 80m losses in Q3

    MedGulf incurs SAR 80m losses in Q3

    The Mediterranean and Gulf Insurance and Reinsurance Company (MedGulf) on Sunday announced that it has turned to loss for the third quarter of 2018. Net losses amounted to SAR 79.79 million in Q3-18, against a profit of SAR 60.12 million in Q3-18, according to a filing to the Saudi Stock Exchange (Tadawul). The Saudi firm […]

  • CMA approves Amana’s capital hike

    CMA approves Amana’s capital hike

    he Saudi Capital Market Authority (CMA) has approved Amana Cooperative Insurance Company’s request to increase its capital through rights issue valued at SAR 100 million. The increase in capital will be limited to the shareholders who are registered in the shareholders registry at the Security Depository Center as of the closing of the second trading […]

  • Insurance House’s profit more than doubles in 9M

    Insurance House’s profit more than doubles in 9M

    Insurance House’s net profit has more than doubled to AED 8.39 million during the first nine months of 2019, compared to AED 3.86 million in the corresponding period of the previous year. Gross premiums written dropped to AED 165.13 million during the nine-month period ended September, versus AED 180.62 million in the same period of […]

  • Al Alamiya for Cooperative Insurance to generate SAR 45m from deal

    Al Alamiya for Cooperative Insurance to generate SAR 45m from deal

    Al Alamiya for Cooperative Insurance Company announced renewing an insurance agreement with Riyad Bank. The agreement entails insurance coverage for Riyad Bank’s auto leasing programme, the insurance firm said in a statement to the Saudi Stock Exchange (Tadawul) on Monday. Al Alamiya for Cooperative Insurance expects this agreement to positively impact its financial results as […]