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Islamic insurance revenues rise 14%
In line with the article's headline, the report indicates that the Islamic insurance sector in the Gulf Cooperation Council countries experienced revenue growth of approximately 10% to 12% in 2026, driven by sustained demand for mandatory vehicle insurance and health coverage, as well as regional infrastructure projects. The sector saw a 15% increase in the first half of 2026, with Gulf insurance revenues rising by 10% in 2025, and Islamic insurance companies' profits growing by 12% in the first half of 2026 after declining in 2025. The report also forecasts that industry profits are likely to remain stable, supported by increased mergers and capital raises aimed at strengthening financial solvency, especially with the implementation of the new Solvency Framework in Saudi Arabia starting in early 2027.
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