Reinsurance
MENA reinsurance market requires long-term view
Taking the pulse of the market
Pressure on reinsurance market persists
Would winds of change bring market discipline?
General insurance - Market in evolution
Life insurance offers greater room for growth
Distribution - Expanding distribution horizons in the UAE
Association - Working for a stronger market
UAE: Product development key to future prospects
UAE market at a crossroad - S&P
Healthcare
Innovation a requisite for health insurance growth
Room for improvement in mandatory health execution
Technology for mandatory health fast taking shape
AIRDC: Developing markets - An oasis of insurance growth
Credit risk rises for Arab exports to Asia
Brokers can add more value through fair treatment of clients
Making takaful fit for the new world
Multinational Programmes: Getting global insurers to respond to claims locally
Trade Credit - Protecting financier interest
Fraud - Detect and deter fraud in the region
MENA
Making strides for the FAIR community
MENA: Time to act on private pensions
MENA: Rate undercutting plagues motor mart
Jordan - Insurers in talks to stop mandatory auto 3rd-party cover
Jordan - Central bank to oversee insurance industry from 2017
Kuwait - New insurance law 75% finalised
Kuwait - New Health insurance scheme for retirees
Lebanon - Insurance mart sees 4% 1H premium growth to $830 mln
Lebanon - Independent brokers generate $234 mln in premiums in 2015
Lebanon - Former Lebanese regulator Walid Genadry honoured by IAIS
Lebanon - AROPE enters strategic partnership with local parties to boost distribution
Oman - Regulator issues insurance service guidelines
Oman signs insurance MoU with Iran
Oman: Two killed a day in road accidents in 1H
Qatar - QFC to move to new financial zone next year
Qatar - Premiums jump by a third to over $3 bln in 2015
UAE - New auto insurance rule adopted
UAE - Auto rates to increase by at least 25%
UAE - Insurers signal recovery in 1H16 despite regulatory changes
UAE - Regulator warns insurers against making misleading statements
UAE - Proportion of residents with life insurance this year declines
UAE - Financial comparison website raises further $2.4 mln
UAE - DFSA fines intermediary Clements for breaches
Africa
Reinsurers bullish about prospects
Algeria - Market posts stable premiums in 1H16
Egypt - Health insurance Bill tabled to lawmakers
Egypt - Strong insurance performance forecasted over next 18 months
Egypt: Insurance Federation to set up anti-fraud databank
Africa - Misr Insurance's profit crosses milestone EGP1-bln mark
Egypt: Allianz has biggest number of bancassurance tie-ups
Kenya - ZEP-RE launches insurance academy
Morocco - Catastrophe cover to be mandatory in all non-life insurance policies
Tunisia - Union of Pharmacists suspends third-party payment system
Zimbabwe - New microinsurance venture launched
Global
IFC launches platform to mobilise $5 bln for infrastructure investments in emerging markets
Emerging markets set to drive future insurance market growth
Takaful
Bahrain - Takaful Int'l signs agreement with Al Salam Bank-Bahrain
Egypt - Misr Emirates Takaful Life studies two funding options to buy a property
Malaysia - Takaful Malaysia sees 30% rise in 3Q net profit
Pakistan - SIL receives takaful window operator licence
Saudi Arabia - Close to 11 mln covered by health insurance
Saudi Arabia - Health insurers look at smoking & obesity
Saudi Arabia - Saudi insurers on the right path but face tough ride - S&P
Saudi Arabia - 2nd phase of single health insurance policy starts
Global - Retakaful - Call for terminology and operating models to be standardised
Global - Prospects remain robust despite subdued sukuk issuance - Moody's
Diary of Events
People on the Move
COUNTRY PROFILE
COVER STORY - Reinsurance
In gearing up for the Dubai Rendezvous, we look at the reinsurance trends in the region where excess capacity is predicted to retreat sooner rather than later as investors suffer losses in a tough market. But for those that are in it for the long...
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INSIGHTS
Hong Kong, Taiwan and Singapore look to be caught up in an economic typhoon, with growth hindered by depressed external demand – especially from China – and tighter financial conditions. With nearly half of exports from Saudi Arabia...
CORPORATE RISK MANAGEMENT
In this second part of the series on designing a multinational insurance programme, AIG discusses the issues involved when MNCs insure themselves under local policies in the jurisdictions they operate in, and when they choose not to do so.
Mr John Barlow of HFW discusses ways to protect a financier’s interest when accepting a trade credit policy as security for loans.
Ms Susan Dingwall and Mr Martin Schneider of Norton Rose Fulbright LLP see increased opportunities for the insurance sector in a region where more private sector involvement in the economy is expected as governments lower barriers to foreign direct...
Excess capacity, increase in large losses, and stagnating amount of insurable risk in the near to medium term, are some of the factors contributing to persisting headwinds for reinsurers in MENA, especially for regional entities, say Messrs Myles...
The results of the first half of this year for the 29 listed insurers in the UAE give hope that a correction is underway after several years of unhealthy and unprofessional practices. The listed operators’ GWP reached AED10.6 billion (US$2.9...
The positive financial results of listed insurers for the first half of the year suggest that the UAE market is gradually regaining profitability on the back of regulatory intervention. We look at whether the overdue correction in the market would...
Life insurance in the UAE has been developing steadily but operators can do more to expand their life offerings to individuals instead of focusing on group business.
Health insurers are ready to take advantage of the fast-paced developments in technology to find innovative solutions to improve their service, shows the 10th Middle East Healthcare Insurance last month.
A roundtable discussion on the execution of mandatory healthcare in the Middle East found room for improvement in terms of communication with the public, enforcement and technologies employed, says Mr Robin Ali of Consilient Consultancy.
Mr Simon Isgar and Ms Kelsey Evans of Kennedys Dubai LLP discuss Dubai’s leading ways in using technology in the healthcare insurance system and the laws developing around these initiatives.
The less mature insurance markets remain profitable segments within the industry although striking the right balance between regulations and market development is key to unlocking further potential, delegates at the 20th Association of Insurers and...
The discussions on fee-based payment systems show that brokers need to show value-add to the service they provide. This can be achieved by adopting regulatory standards that encourages the fair treatment of customers, says Mr Shabbir Jafer Razvi of...
This year’s Takaful Rendezvous adopted a forward-looking tone as takaful operators advocated the need to better engage the Gen-Y segment and the importance of technology to better understand and serve the needs of customers.
A mixture of regulations and technology can go a long way to help MENA insurers establish controls to manage the risk of insurance fraud, says Ms Yolla El Khoury of ACE Holding.
This year’s FAIR Reinsurance Forum in Cyprus saw a major breakthrough as the organisation succeeded to facilitate the businesses of its pools and syndicates in China despite the country’s new regulations which put limitations on foreign...
Now is an opportune time for insurance companies to enter the private pension market, as pressure builds on regional economies and governments feel the need to reduce the scale of public-sector pension benefits, according to Mr Luc Metivier, CEO of...
The outlook for motor insurance in the Middle East remains negative given the high levels of competition that leads to cut-throat pricing, said A.M. Best in a recent report titled, “Accelerating Competitive Conditions Pressurises Motor...