Bahrain's Arab Insurance Group (ARIG) is in discussions to take full ownership of Dubai-based Islamic reinsurer Takaful Re, as regulatory moves add pressure on firms in the overcrowded Gulf insurance sector to consolidate.
Bahrain-based reinsurance firm Arab Insurance Group (Arig) has won the 'reinsurer of the year' award at the inaugural Middle East Insurance Industry Awards held in Dubai.
The awards programme was organised by the Middle E
Bahrain-based Arig Group, a leading reinsurance provider, has reported a net profit of $4.7 million for the first half of this year as against $5.2 million for the same period last year.
The group’s investment returns were up and
Leading insurance firm Arig has registered a 41 per cent increase in net profit to $12.6 million for the first nine months of the year, compared with $9 million for the same period last year.
The growth was achieved on the back of
Arig, a regional professional reinsurance provider, yesterday reported a net profit of $5.2 million for the first half of the year as against a profit of $3.2 million for the comparable previous period.
Positive underwriting combi
Good underwriting performance and the absence of large natural catastrophes contributed to Arab Insurance Group's (Arig) first half income of $5.2 million compared with a loss of $3.9 million last time.
The regional reinsuranc
Arig, one of the largest Arab-owned, professional reinsurance providers in the region, suffered a loss of $7.4 million in the third quarter compared to a profit of $14.3 million for the same period last year.
Nominal investment returns and
Bahrain-based re-insurance group Arig suffered a first half net loss of $4.1 million against a loss of $2.8 million for the first six months of last year.
That was largely driven by provisions taken against reported and unreported Middle
Arab Insurance Group (Arig), a leading Bahrain insurance firm, posted $20.8 million in profits for the 2010 financial year, almost matching its 2009 performance, posting .
It earned $21.9 million in 2009. Both reinsurance and investme
Impacted by the volatile global equity markets, Arab Insurance Group (Arig) recorded a $2.8 million loss for the first half of the year against a profit of $8.8 million in the first six months of last year.
Returns from reinsurance, Arig