Market sees growth rebound across all sectors
A young market with plenty of room for growth, Morocco saw its insurance sector rebound in both premium volume and profits after a difficult period during the COVID-19 years.
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Morocco InsurTechs get government backing
The Moroccan regulator has initiated steps to develop the InsurTech segment in the hopes that it will boost penetration and drive innovation in the market.
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Promising results for life insurance in Morocco
The life insurance sector makes up nearly half of premiums collected in Morocco. Its performance is largely due to the rising popularity of savings products. We look at opportunities that lie ahead for life insurers in the country.
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Staying ahead of the AI challenge
AI and blockchain are increasingly being adopted by the insurance industry worldwide and are expected to have implications on the business as well as current and future manpower needs. We spoke to Insurance Institute of India’s Dr George...
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Aftermath of the Turkiye earthquake
Losses from the massive earthquakes that hit Turkiye and Syria in February have caused more people to buy insurance and regulators to consider implementing better coverage of Nat CAT. It also had an impact on coverage in neighbouring countries....
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Low app engagement hinders growth of InsurTech
Most insurers and InsurTechs in the UAE have developed mobile applications for their customers. However, few customers end up using them. Bayzat’s Mr Faisal Zeineddine discusses what is needed to improve engagement on insurance applications.
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Reinsurance reset at 19th SIRC 2023
The Singapore Reinsurers’ Association has announced that this year’s 19th SIRC will be an all in-person event following the overwhelming success of last year’s event, which drew a record attendance of over 2,200 delegates from 62...
Holistic approach to climate resilience required
Climate-related events are increasing in severity and frequency, greatly impacting poorer economies. We spoke to Gallagher Re’s Mr Antoine Bavandi about what must be done to ensure that the protection gap does not increase further.
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Takaful in Australia
According to takaful companies the world over, shariah-compliant insurance is not just for Muslims but should appeal to customers of all faiths who simply want to take advantage of a product that is ethically sound and competitively priced. We take...
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The potential for microtakaful in Malaysia
Microtakaful is an appealing model to help make coverage affordable for the lower income bracket. In Malaysia, most microtakaful is focused on life and health protection. However, more can also be done to help smaller businesses make use of it.
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Nurturing actuarial talent
Actuaries play an important role in calculating the effects of uncertain events like climate change and in designing insurance products and pricing them appropriately. However, the actuarial talent pool is quite small. Zurich International Life...
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AI-enhanced actuaries
As with many sectors of the industrialised world, AI has been a useful tool for actuaries for several years. Newer, more powerful tools such as ChatGPT will continue to be used by actuaries, making their jobs more efficient and effective. We spoke...
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Insurers among most targeted by cyber attacks
The insurance and finance sector in the Middle East and African region was among the most targeted by cyber attacks in 2022, accounting for 44% of all attacks. We spoke to Marsh Speciality’s Mr Simon Bell about the current ransomware situation...
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Insurance can de-risk agriculture in Middle East
The Middle East’s geography and climate make it particularly susceptible to the negative impact of climate change and agriculture is vulnerable to such changes. Middle East Insurance Review takes a look at how insurers can mitigate the adverse...

Why India has not adopted usage-based motor insurance
Several non-life insurers in India have introduced usage-based motor insurance covers, however these haven’t found favour with customers. Middle East Insurance Review spoke with PolicyBoss.com’s Mr Susheel Tejuja to understand why...
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Middle East: Major markets extend deadline for listed insurers to present financial statements
The authorities in the UAE and Saudi Arabia have given listed insurers more time to publish their 1Q2023 financial statements that are to be based on IFRS17.
Bahrain: Male drivers cause more losses for motor insurers than female
Men constitute 79.5% of drivers who are at fault in traffic accidents in Bahrain, while women account for 20.5%, according to statistics from the General Traffic Department.
Egypt: Insurers face several challenges in implementing IFRS17
Insurance companies in Egypt face five major challenges in applying the international financial reporting standard IFRS17 insurance contracts, according to Lux actuarial consultant Ahmed Nagy.

Insurance brokers ignoring climate crisis
Insurance brokers have been found to be lacking urgency and interest in the transition to net zero according to a recent survey conducted by specialist insurer Ecclesiastical.
Asia asset managers lag behind on ESG risks
A new report Transforming Ambitions into Actions published by WWF Singapore revealed that Chinese fund houses have shown the least progress and improvement in their efforts in addressing ESG risks.
Are managers not capable of dealing with staff mental stress?
While layoffs, increasing cost of living, inflationary pressures and many more issues have elevated employee stress levels, very few managers know how to deal appropriately with workers’ mental health concerns.

Malaysia: Takaful operator launches new online sales portal
Syarikat Takaful Malaysia (STMB) has launched a new online sales portal ‘Click for Cover’.
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Pakistan: New account expands offering of takaful to bank's customers
Pakistan bank Emaan Islamic Banking and TPL Insurance’s window takaful operation, have launched a new bank account ‘Emaan All-in-One Account’ according to a local news report by the Daily Times.
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