Are we nearly there yet?
They came, they saw, they conquered
General
Collaborating for a more sustainable future
Oman on the path to recovery
More turn to professional development during pandemic
Global Insurance Forum 2021 - Underwriters will not always be at the centre of insurance
Global Insurance Forum 2021 - Leadership thinking out of the box
Global Insurance Forum 2021 - Investing in recovery
Global Insurance Forum 2021 - Innovation: A culture without boundaries
Global Insurance Forum 2021 - Innovation critical for last mile delivery of products
Global Insurance Forum 2021 - Cyber and intangible risks
Life & health
Insurer's Africa and Middle East expansion
Keeping pace with the evolving healthcare landscape
Casualty, cyber and client interaction
Strange new world for reinsurance as pandemic abates
Preparing for a post-pandemic world
Turkey turns the page on reinsurance and market consolidation
The evolving role of reinsurance brokers
Shifting role of health insurance brokers in the Middle East
Role of brokers amid change
UAE
BOD-49: A revolution in regulation
Insurers will report deep dents to their motor lines
Fire in the sky
Pandemic jolts shipping towards rocky seas
Tunisia
Forging ahead despite headwinds
Fierce competition, prices too low - and still under pressure
Takaful usage-based motor plan launched as driving patterns change
Blue skies ahead for efficient carriers
Businesses with diversity and inclusion have an edge
Changing risk culture provides impetus for actuaries
MENA CAT model to tackle flood risks better
View from India
Travel insurance has miles to go
MENA
MENA: Arab Monetary Fund on steps needed to expand market
Algeria: Insurers' association agrees to establish first FinTech lab in Algiers
Bahrain: Insurers and bankers form joint strategic committee
Egypt: Regulator reviews rules in bid to push digital transformation
Kuwait: Single party with stakes in multiple insurers may limit competition
Morocco: Insurance regulator signs cooperation pact with competition agency
Oman: Damages from cyclone Shaheen estimated up to $130m
Tunisia: AMI Assurances to increase capital to $31m
Turkey: Insurance regulator spells out agenda for market growth
UAE: Etihad Credit Insurance and France sign strategic reinsurance deal
UAE: Insurers in talks to draw up unified federal position on COVID-19 risk
UAE: Policybazaar UAE ties up with Al Etihad Credit Bureau to run real-time credit checks
Global
Global: Reinsurers could unlock the cyber insurance market
Global: Swiss Re estimates hurricane Ida claims at $750m
Reinsurers' support boosts InsurTech growth
Takaful
Bahrain: Solidarity announces merger with t'azur
Oman: Takaful operators' profit register sharp decline in 1H
Indonesia: Takaful market expected to continue growth
Tunisia: Takaful contributions grew 10% in 2020
UK: One third business properties at risk from flooding
Expanding parametric tropical cyclone insurance
The challenge of insuring automated flights
Philippines: Crop insurer has poor risk management practices
Private capital to plug disaster relief funding gap
Space - the final frontier for cyber security
UK nuclear risk pool capacity increased
US: 18 weather events each with $1bn losses up to September 2021
Product bites
People on the move
INSURANCE - Life & health
REINSURANCE
The definition of what it is to be a global reinsurer is changing rapidly in the face of an increasingly complex business world. Juggling the priorities of Nat CAT, cyber, ESG, political risk and ILS during a pandemic would be enough to keep anyone...
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ACTUARIAL
The MENA region is experiencing regulatory changes and insurers are shifting towards a risk-based culture that bodes well for the actuarial profession, says Consulting Actuaries and Insurance Specialists’ Mr Sulaiman Binmayouf.
No, the pandemic is not yet beaten, and business will probably be tough for some time to come, but it does look as if we are over the worst and that we can look forward to a better future.
This year’s Middle East Insurance Industry Awards proved to be a strong beam of light piercing the gloom of the pandemic. The mood was upbeat, the achievements memorable – and the signals for the future stronger than ever.
More consumers are demanding that businesses adopt sustainable investing practices. FPI’s Mr Chris Corkish explains why the insurance sector needs to reinforce positive environmental, social and governance behaviours and work together towards...
Oman’s economy is recovering and regaining strength after the pandemic. This will reflect positively on the sector’s performance this year, says Vision Insurance’s Mr Issam Mouslimani.
The pandemic boosted self-reflection and some industry professionals have turned to training and qualifications for an advantage in a post-pandemic world, says Chartered Insurance Institute Middle East's Ms Gaenor Jones.
Reinsurers at the 3rd Sharm El-Sheikh Rendezvous & FAIR 27th Conference discussed new trends arising from the pandemic and factors that will shape the industry. Middle East Insurance Review shares some highlights from this year’s Egyptian...
Discussions at the 3rd Sharm Rendezvous and FAIR 27th General Conference focused on assessing the impacts of the pandemic on the MENA and Afro-Asian insurance industry as well as finding the best means to benefit from emerging opportunities and face...
The pandemic has altered the insurance landscape irrevocably and the industry must respond with agility, authority and conclusive solutions to meet rising demand and shifting requirements, says ACE Holding’s Ms Yolla El Khoury.
In a post-pandemic world, brokers have a unique opportunity to leverage their knowledge, expertise and long-term relationships with insurers to ensure future success, says Pacific Prime’s Mr David Hayes.
Shifting client needs, technology advances and tighter regulations have altered the role of brokers but the segment’s keystone elements of strong client relationships and providing advice remain important, says Nexus’ Mr Reza...
The shift from the Insurance Authority to the Central Bank of the UAE coupled with the introduction of BOD-49 mark the biggest changes to the insurance regulatory environment since the foundation of the union. We take a look at the market one year...
In the face of new circumstances and changing market conditions, there is now a greater need for UAE motor insurers to be agile and have the capability to adopt emerging technologies to level up their offerings.
It is hard to say if we are at the beginning, middle or end of the development of the fire insurance market in the UAE – but many signs point to future growth. Lots of it.
The insurance industry in Tunisia is proving resilient despite the pandemic crisis and major challenges that have hit the country over the past two years.
Tunisia’s national reinsurer is committed to serving the local market and its regional partners while preserving growth to ensure a sustainable operation. Tunis Re’s Mrs Lamia Ben Mahmoud shares insights on the impact of the pandemic and...
Road usage patterns changed last year with fewer people driving due to lockdowns. In response, Takaful Malaysia has launched a pay-as-you-drive plan for takaful customers so that they pay only on the days they drive.
Business travel is likely to be soft post-pandemic, but consumers are expected to take to the skies and boost aviation demand, says Willis Towers Watson’s Mr Henry Adair.
Speakers at the Middle East edition of the Dive In Festival shared insights into the issues of wellbeing, mental health and the future of diversity and inclusion in the workplace and how companies can address them.
As flood risk becomes a primary peril for the region, more sophisticated modelling tools are needed. Willis Re’s Ms Marie-Kristina Thomson provides an overview of a new CAT flood model that enables (re)insurers to quantify risks better.
The pandemic impacted all major global and domestic events across the globe. The pandemic also curbed leisure and business travel as travel restrictions were put in place. How did the pandemic impact business travel insurance? Middle East Insurance...
The Arab Monetary Fund (AMF) said the insurance sector in the Arab region has witnessed growth in line with economic development. This boosts the need for insurance services.
The Commission for the Organisation and Supervision of Stock Exchange Operations (COSOB) has launched the first laboratory (FinLab) dedicated to the development of technological innovation in the financial sector in Algeria.
The Bahrain Insurance Association (BIA) and the Bahrain Association of Banks (BAB) have established a joint strategic committee to enhance close cooperation between the insurance and banking sectors in the kingdom.
One in three British businesses is being put at risk from extreme weather due to a lack of awareness and support according to new research by Aviva Insurance.
Swiss Re Corporate Solutions will collaborate with risk analytics firm Reask to expand the scope of its parametric windstorm solution STORM.
To assist the airline industry to get automated flights (flights without pilots) off the ground could be a big challenge for the insurance underwriters.