Magazine date:
Jan 2024 MENA reinsurers: loss ratio
| Company | Loss ratio in % | 5-year average | ||||
|---|---|---|---|---|---|---|
| 2022 | 2021 | 2020 | 2019 | 2018 | ||
| IGI | 41.9 | 51 | 54.6 | 54.8 | - | 50.58 |
| Saudi Re | 63.5 | 66.2 | 58.2 | 64.9 | 63.2 | 63.2 |
| SCR | 61.8 | 52.3 | 56.3 | 40.8 | 60.3 | 54.3 |
| CCR | 54.2 | 50.9 | 51.8 | 59.5 | 52.7 | 53.82 |
| Milli Re | 135 | 108 | 86 | 87 | 93 | 101.8 |
| Kuwait Re | 62.9 | 65.6 | 68.8 | 65.9 | 63.9 | 65.42 |
| Türk Reasürans | 64.6 | 58.9 | 57 | - | - | 60.17 |
| Hannover ReTakaful | 63.2 | 43.4 | 63.2 | 63.8 | 69.1 | 60.54 |
| Oman Re | 58.4 | 63.1 | 62.1 | 66.5 | 55.2 | 61.06 |
| Tunis Re | 54 | 60 | 59.4 | 62.8 | 71 | 61.44 |
| Arab Re | 67 | 66.6 | 72.5 | 71.1 | 69.6 | 69.36 |
MENA reinsurers: combined ratio
| Company | Combined ratio in % | 5-year average | ||||
|---|---|---|---|---|---|---|
| 2022 | 2021 | 2020 | 2019 | 2018 | ||
| IGI | 76.7 | 89 | 89.3 | 93.9 | 89 | 87.6 |
| Saudi Re | 96.6 | 96.2 | 92 | 99.9 | 93.2 | 95.6 |
| SCR | 101.2 | 86.9 | 91.1 | 84.6 | 92.2 | 91.2 |
| CCR | 77.3 | 75.3 | 78.1 | 85 | 84.1 | 80 |
| Milli Re | 160 | 136 | 117 | 117 | 124 | 130.8 |
| Kuwait Re | 90.9 | 91 | 97.8 | 94.2 | 95.8 | 93.9 |
| Türk Reasürans | 85.1 | 82.4 | 87 | - | - | 84.8 |
| Hannover ReTakaful | 101.6 | 88.6 | 100.4 | 102.8 | 101.6 | 99 |
| Oman Re | 96.1 | 99.4 | 97.9 | 101.7 | 91.5 | 97.3 |
| Tunis Re | 92 | 93 | 96.9 | 99.6 | 108 | 97.9 |
| Arab Re | 98.2 | 98 | 104 | 105.7 | 105.4 | 102.3 |
Read also | MENA zone reinsurers: ranking per 2022 turnover [4]
