GCC Insurance Daily
The day's insurance news across the GCC: regulation, governance, AI in insurance, and people moves. Curated, attributed, and linked to the source.
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Enaya Insurance secured a B++ (Good) financial strength rating from AM Best and a Baa1 from Moody's, both with stable outlooks, on the back of a 16% return on equity and a 92% combined ratio for 2025. The agencies flagged the heavy intercompany loan and receivables position, at 77% of capital and surplus, as the item to watch.
The Jeddah-based credit and political risk insurer ICIEC signed a Bank Master Policy with the Abu Dhabi-based Arab Trade Financing Programme on the sidelines of the IsDB group meetings in Baku, covering eligible trade finance in the UAE against non-payment and other commercial risks. It continues a pattern of multilateral insurers absorbing intra-regional trade risk that commercial underwriters tend to shy away from.
ICIEC signed a Bank Master Policy and a Documentary Credit Insurance Policy with National Bank of Bahrain in Baku, covering NBB's trade finance to counterparties across member states and the confirmation of letters of credit. For Bahraini banks it is a route to take on more cross-border exposure without carrying the full payment risk themselves.
Each item is a short editorial summary with a link to the original source. Items marked Rumour · unverified are unconfirmed and should be treated with caution. Compiled automatically; corrections welcome.