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.
Oman's Financial Services Authority has simplified motor claims so a policyholder deals with their own insurer, which then recovers from the at-fault party's carrier, with no deductible in standard cases and defined settlement timeframes. Faster, cleaner settlement helps customers, though insurers will carry more of the recovery friction.
The transition to the Central Bank's consolidated insurance framework under Federal Law No. 6 of 2025 continues, with entities operating through non-financial free zones now needing CBUAE authorisation and a reconciliation window closing on 16 September. Firms that leaned on free-zone licences should be well into remediation by now.
Moody's has assigned Daman, PureHealth's insurance arm, an A1 financial-strength rating with a stable outlook, the highest it holds on any Gulf insurer. The mark reflects Daman's scale in UAE health cover and its strong capital position, and it sets a high bar for peers courting international investors.
AM Best has affirmed Orient Insurance at A (Excellent) with a stable outlook, citing a 14.7% return on equity and an 82.1% combined ratio for 2025. Orient remains the UAE's largest insurer by insurance service revenue, and the affirmation shows how far the leaders have pulled ahead of a crowded mid-tier.
Dubai-listed takaful operator Salama has appointed H.E. Humaid Alqutami as chairman, with Fareed Lutfi as vice chairman, and reconstituted its audit, risk, nomination and investment committees. The move follows last year's capital restructuring and signals a settling of governance after a turbulent stretch.
Bupa Arabia has renewed its group health contract with SABIC for a further year, a deal it expects to exceed 5% of 2026 gross written premiums. Holding an anchor corporate account of that size matters as pricing competition bites across the Saudi medical book.
Gulf Union Insurance and Reinsurance in Bahrain reported a 2025 net profit of BD1.59m, down roughly 9% on the year. A steady if unremarkable result, and a reminder that the smaller Gulf carriers are defending profitability rather than growing it.
Fitch sees Saudi insurance M&A picking up as tighter capital rules and thin underwriting margins squeeze smaller players, with Liva and Malath, Salama and Saudi Enaya, and Medgulf and Buruj among the deals in train ahead of a risk-based capital regime due in 2027. Consolidation is now the sector's central story, even if signed deals have closed more slowly than billed.
An Enterprise analysis argues Gulf insurers have absorbed recent regional volatility without material damage to earnings or investment portfolios, helped by conservative asset allocation and strong reinsurance support. The read-across is that balance sheets in the Gulf remain a source of resilience rather than risk.
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.