Insights Articles

Is the EV sales downturn temporary or structural?

June 7, 2024 | London, UK

The world’s net-zero energy transition is well underway, with governments, energy generators, market players and consumers all playing their part - nevertheless, Q1 2024, was dominated by headlines claiming that the EV market is in freefall, and auto manufacturers and OEMs are now happily chiming in to confirm that sales are down, with some even going as far as to say that plans to phase out the internal combustion engine should be delayed or put on hold. Why?

The global potential for Islamic insurance

May 23, 2024 | London, UK

The Islamic finance industry has continued to grow steadily, and although the rate of growth has slowed slightly over the last year or two (from 17% in 2021 to 11% in 2022), it accounted for US$ 4.5 trillion worth of assets in 2022. By 2027, it is expected to top US$ 6.7 trillion in assets. Takaful insurance and reinsurance is the third-largest contributor to the global Islamic finance industry, and yet, despite experiencing double-digit growth, it accounts for only 2% of Islamic-finance assets. This figure suggests that many Islamic-finance assets are insured with potentially non-sharia compliant, conventional, insurance. Why is that figure so low, and what can be done to improve its market share?

What did COP28 mean for GCC & MENA insurers

May 15, 2024 | London, UK

Now that the dust has settled, we would like to analyse what this conference has meant for Insurers across the Middle East. Some analysts have claimed it amounted to little more than a green light for the hydrocarbon industry, while others hailed the transformational nature of a conference that, for the first time in its history, managed to insert the term “transitioning away from fossil fuels in energy systems” into the final communiqué.

2023 Industry Trends & Market Impacts into 2024

February 12, 2024 | London, UK

As 2023 drew to a close and the world began to emerge from the inflationary shocks of 2022, uncertainties nevertheless still persist; how will this impact the coming year?

Opportunities in the Islamic Home Finance and car-loan markets

January 12, 2024 | London, UK

The rising demand for Sharia-compliant financial products among the GCC's growing population is forcing providers to rethink their product offerings and the channels through which customers can access them. The big question remains: can regional players adapt quickly enough to take advantage of these emerging opportunities?

Middle East insurance penetration : Key markets & government initiatives

December 6, 2023 | London, UK

In recent years, the Middle East and wider MENAT (Middle East North Africa and Türkiye) region has witnessed significant economic growth and development. However, it faces challenges in growing the insurance sector, which is typically measured by the insurance penetration in an economy. Across the Middle East this remains low when compared to global standards. We investigate the reasons behind this phenomenon, exploring government initiatives and awareness campaigns aimed at boosting insurance participation, and highlights key markets in the Middle East and wider region.

What will the recent loss of the Freemantle Highway mean for car-carrying marine hull insurance?

October 23, 2023 | London, UK

Lithium-ion batteries, and more specifically, the electric vehicles (EVs) that use them, have been high on the news agenda since the loss of car-carrying vessel Felicity Ace off the Azores in February 2022. That fire resulted in the total loss of the ship, as well as US$ 400m cargo losses . Some commercial carriers are already restricting the EV types they carry, so how will it impact the marine insurance industry, and what are the implications for the international automotive and passenger-ferry sectors as the world begins the long, slow transition to an electrified bridging technology?

What does connected-vehicle evolution mean for insurers?

August 31, 2023 | London, UK

Widespread vehicle connectivity is already a feature of both internal combustion engine vehicles (ICEVs) and the electric vehicles (EV) of the future, creating great potential for ever higher levels of automation in mobility. Advanced Driver Assistance Systems (ADAS) such as forward collision warning (FCW), autonomous emergency braking (AEB) and lane-departure warnings have been a feature of motoring for many years, but as vehicle design progresses from assistance to automation, what does the future look like for insurers?

Takaful insurance in the UK: where is it, and where is it going?

July 27, 2023 | London, UK

The Islamic finance industry, and in particular, the Islamic (takaful) insurance industry have shown signs of extraordinary growth over the last two decades. Between 2006-2011, it saw a compound annual growth rate (CAGR) of 20%, way above that of conventional insurance, and between 2015-2021, global takaful assets saw annual average growth of 8%, from US$ 47 billion in 2015 to US$ 73 billion in 2021. Global assets grew quickly in 2021, rising +17% year on year, and the market is expected to top the US$ 100 billion asset mark in 2026. So, what exactly, is takaful insurance, what are the trends, and where are the opportunities?

Can parametric insurance address gaps in geopolitical & agricultural risk?

July 4, 2023 | London, UK

Recent innovation and more sophisticated data analytics have seen the commercial insurance sector open up to a wider range of risk, in response to the dangers of an increasingly interconnected world. As a result, ‘parametric insurance’ has not only become an attractive component in mitigating risk of damage and loss caused by natural weather variability, but its innovation and increasingly sophisticated technology is opening up new-product areas such as business interruption from rising geopolitical risk, as well as cover for agricultural losses.

INSIGHTS & NEWS

JENOA Insights