Thursday 28 March 2024
 
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Reinsurance

Trust Re net profit doubles in 2015

Bahrain-based Trust Re, a leading reinsurance company, posted profits of $30.8 million in 2015, as against $15.4 million in the year before, marking an increase of 100 per cent. The company attributed the profit to very strong non

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New India Assurance to open reinsurance desk in Dubai

The New India Assurance Company (NIA), a pioneer in the UAE insurance industry, is set to open a reinsurance desk at its Dubai International Financial Centre (DIFC) office to enhance its presence in the segment in the region. &nbs

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Overcapacity weighing down Mena insurers

The influx of reinsurance capacity in the Mena region and the prevailing competitive market conditions has begun to place pressure on the technical performance of regional reinsurers, a report said. The low level of insurance pene

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Takeovers likely to continue in insurance sector

Merger and takeover activity is likely to continue in the coming months as (re)insurers increasingly seek ways to deploy capital and create scale against a backdrop of ongoing soft market conditions and weak investment returns, a report said.

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Trust Re Q1 net profit up 10pc to hit $8.7m

Trust Re, a reinsurance company based in Bahrain, reported profits of $ 8.7 million during the first quarter (Q1) of the year, up 10.1 per cent year-on-year from $ 7.9 million achieved in Q1 2014. Gross Written Premium reached $20

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Trust Re paid-up capital reaches $200m

Trust Re, a leading reinsurance company based in Bahrain, announced that its authorised, issued and paid-up capital now stands at $200 million. Its shareholders have released the final part, $30 million, of a plan to double the au

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Trust Re logs 13.7pc growth in 2014 premium

Trust Re, a reinsurance company based in Bahrain achieved gross written premium of $452.6 million during the financial year 2014, as against $398 million in the previous year, marking a growth of 13.7 per cent. The Group’s p

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Mena reinsurance markets stay on growth track

Growing insurance premiums and a relatively low exposure to natural perils are the main attractions which are driving the unabated growth of Mena reinsurance markets, a report said. Fierce competition, intense pricing pressure and

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Islamic trade finance fuels GCC reinsurance demand

The spread of Islamic trade finance is boosting demand for sharia-compliant reinsurance in the Gulf, trade credit insurer Euler Hermes says, predicting the sector could eventually account for over a third of its business in the region.

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London's XL launches reinsurance ops in Mena

UK-based XL Group's reinsurance segment has announced the establishment of new operations in Dubai to serve the Mena market and act as a regional hub for the business. Further, XL Group has announced the appointments of Mohama

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