From Editor-in-Chief
The winners in the market: A salute to the winners
Life in need of regulatory initiatives to grow
Expanding the market
Non-life market ripe with potential
A new regulatory landscape in Morocco
Saham Assurance: An eye on Africa
Trade credit: Going beyond tradition: How credit insurers and factors can join forces
Trade credit: Accessing trade finance through credit insurance
Trade credit: The growing role of trade credit insurance in the Middle East
Oil & Gas: In tumultuous times
Sudan: Pushing takaful forward
Surplus sharing: Alternatives to surplus distribution
Thriving in a dynamic industry
Strategic global view: Closing the global insurance protection gap
MENA: Cyber risks tops traditional risks - Booz Allen
Middle East: Zurich and Citi sign 15-year exclusive deal
GCC: Terrorism tops key threats
Motor underwriting improves in GCC - Moody's
GCC: Falling oil prices to put pressure on economies
Algerian Gulf Bank to have two insurers
Bahrain: Central bank to boost insurance sector
Bahrain: Gulf Air expands loyalty programme with BKIC
Egypt: Premiums rise 17% to nearly US$2 bln for FY2013-14
Egypt: Committee formed for first national reinsurer
Iran: Export insurance coverage up by 30%
Jordan: Insurers propose alternative to mandatory car insurance
Jordan: Govt to study health insurance for citizens
Morocco: Compulsory CAT insurance plan resuscitated
UAE: Majority of SMEs overlook key business risks - survey
UAE: Insurers less trusted than banks - EY
UAE: Abu Dhabi Global Market forms panel to develop regulatory framework
UAE: Beazley opens regional office in DIFC
UAE: AXA Gulf launches SME unit
UAE: Fenchurch Faris opens representative office in DIFC
IAIS begins public consultation on global insurance capital standard
Regulatory changes top risks for financial institutions - Aon
Kuwait: S&P affirms Wethaq Takaful Insurance's 'BB' ratings with stable outlook
Malaysia: Takaful Ikhlas sees rise in contributions to US$229 mln by end-FY2015
Oman: Moody's upgrades Al Madina to Ba1 with positive outlook
Saudi Arabia: Five insurers to increase capital through rights issues
Saudi Arabia: Insurers hike motor deductibles by 400%
Saudi Arabia: Traffic authority to introduce points system for drivers
UAE: National Bonds Corporation to offer takaful
Global takaful market grew 18% over 5 years despite challenges - Deloitte
Sun Life to launch "next generation" Shariah products
Palestinian Insurance Federation and Apex hold field inspection workshop
Milliman Academy continues actuarial training in the Middle East
Diary of events
People on the move
COVER STORY
The stars shone at the inaugural Middle East Insurance Industry Awards (MIIA) in Dubai last November, showing that the industry has much to be proud of. Read the insight into what the winners will be doing to stand tall in the region.
COUNTRY PROFILE
Thanks to the maturity of its players, Morocco's insurance market has preserved a leading position in the Arab World and Africa. But regulatory initiatives are needed for life to overcome the growth challenges.
TAKAFUL MARKET PROFILE
The market awaits a new insurance law even as it grapples with the tough economic conditions and the socio-political challenges. The takaful experience in Sudan continues to achieve success.
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Government initiatives, the upcoming takaful bill, a low level of penetration and infrastructure development will help fuel expansion of Morocco's insurance sector, say Ms Samira Mensah and Mr Mohamed Damak of Standard & Poor's.
Mr Pierre-Edouard Fraigneau of AIG Property Casualty traces recent trends and growth drivers for Morocco's non-life insurance market, and looks at how the country is developing as a financial centre for North Africa.
Mr Karim Nasrallah of the Lebanese Credit Insurer and the Prague Club examines the differences between trade credit insurance and factoring, and the growing need for partnership between the two.
The need of GCC businesses to fund expansion and regulatory guidelines for banks are giving rise to an increasing trend of credit insurance-backed trade finance, says Mr Leroy Almeida of Markel International.
Demand for credit insurance is on the rise in the MENA region and claims have stabilised, while market conditions are becoming less soft, says Mr Robert Nijhout of the International Credit Insurance & Surety Association.
Mr Ravindra Mohan of insurance software solutions provider AETINS examines alternative approaches to utilising surplus which can provide enhanced benefits to participants and help differentiate takaful.
Hannover ReTakaful has flourished under the helm of Mr Mahomed Akoob, a member of the MENA Insurance CEO Club.
Underinsurance goes beyond the missed commercial opportunity for insurers. When insurers only absorb a fraction of economic losses from disasters, stakeholders will inevitably start questioning the social purpose and utility of the industry....
Cyber risks are becoming more worrying than traditional risks, and public and private organisations are looking for an effective way to deal with such future threats as they become more frequent and diverse, said Booz Allen in a recent report.
Global insurer Zurich Insurance Group (Zurich) and Citibank NA (Citi) have signed an exclusive 15-year strategic agreement to offer Zurich's comprehensive life insurance solutions to Citi's consumer clients throughout the Middle East.
Terrorism and labour are the most dangerous threats to the region, said a former GCC Secretary General at a recent conference in Qatar.
The International Association of Insurance Supervisors (IAIS) has begun a public consultation to help guide the development of its risk-based, global insurance capital standard (ICS). This is the first of three planned public consultations on the...
EMEA and global financial institutions surveyed by Aon Risk Solutions agree that regulatory and legislative changes, followed by economic slowdown, increased competition and brand protection are the top four risk factors faced.
Standard & Poor's Ratings Services (S&P) has affirmed its 'BB' counterparty credit and financial strength ratings on Kuwait-based Wethaq Takaful Insurance.
Takaful Ikhlas sees gross contributions for its financial year ending 31 March 2015 hitting MYR800 million (US$229 million), up from MYR772 million in the previous year, driven by an awareness programmes and agency business.
Moody's Investors Service (Moody's) has upgraded to Ba1 from Ba2 the insurance financial strength rating (IFSR) of Oman-based Al Madina Insurance Company. The rating carries a positive outlook.
Despite the global takaful market growing 18% over the period 2007-2012, the regulatory environment remains a work in progress, said a recent report by Deloitte.
Canadian insurer Sun Life Financial plans to introduce the "next generation of Shariah products" to serve specific needs of Muslim customers, said Mr Bert Paterson, Head of Strategic Projects.
The Palestinian Insurance Federation (PIF), in cooperation with Jordan's insurance brokerage house, Apex Insurance, held a training workshop to address the technical and field procedures for risk assessment in general insurance contracts in...
The Milliman Middle East team organised an Actuarial and Risk Management Workshop as part of its commitment to continually provide actuarial knowledge and training to insurance professionals in the Middle East and develop the insurance industry in...