All the time in the world
Jordan
Listed insurers see sustained rebound in profits
No shortage of capacity for developing market
New regulator, new Jordan insurance law
Dramatic change required to save general insurance
Investment inertia impedes InsurTech growth in Jordan
Yemen
Insurance sector shows stability in a tumultuous market
General
Aviation insurance in the Middle East
Aviation risk: Managing post-COVID challenges
View from India - Economic rebound bodes well for non-life
Life & health
Lack of awareness challenges life insurers
View from India - Steady growth ahead for life insurance
(Life) insurance and ESG - perspectives for the GCC
View from India - Hard market conditions are no deterrent to growth
A promising year ahead for reinsurance
Takaful M&A boosted by growth prospects
ESG for takaful and insurance in Pakistan
View from India - India's InsurTech moment has arrived
How will the war for talent play out?
Can insurance catch up as cyber risk surges?
MENA
MENA: More consolidation expected as regulatory regime tightens
MENA: GlobeMed tops TPA companies' rankings in the region
Algeria: CAAR to launch cyber insurance products
Algeria: Insurance sector predicted to grow by 10% this year
Morocco: Regulator says insurance law revision is progressing
Morocco: Market premiums grow nearly 8% to $4bn in 9M2022
Oman: QIC's subsidiary agrees to merge with local insurer
Saudi Arabia: Saudi Enaya and United Insurance explore merger
Turkiye: Insurers present scenarios for insurance market
Turkiye: Traffic insurance losses mount in first nine months
UAE: Central Bank tightens supervision of insurers' funds with intermediaries
UAE: Health insurers increase deductibles in medical policies
Global
Global: Hurricane Ian drives Nat CAT insured losses to $115bn
Global: Rising interest rates will make life insurers increasingly attractive targets for M&A
Global: Aircraft lessors sue insurers for $8bn over trapped Russian 'planes
UK: Insurance and energy bill rises boost business credit use
Takaful
Egypt: Misr Takaful Insurance-Hayat receives licence
Jordan: Al-Manara receives regulatory approval to sell takaful products
Jordan: Insurance federation signs cooperation pact with international takaful body
Indonesia: Shariah Insurance Association launches family takaful blueprint
Morocco: Majority of participatory bank borrowers have acquired mortgage takaful plans
Pakistan: Takaful operator inks bancatakaful pact with microfinance bank
Qatar: Beema to become public shareholding company and launch IPO
UAE: SALAMA and French broker APRIL Group form partnership
Rapidly melting glaciers release unknown bacteria into water ecosystems
Risks to democratic processes are increasing significantly
Availability of fresh water in a changing climate
Majority make use of their cyber insurance
The human firewall and modern cyber defence
More than two-thirds of Kiwis are underinsured
Cyber attacks: Indian healthcare is the second most targeted globally
Geopolitical risks threaten productivity in 2023
Climate resilience programme for urban areas in 10 countries
Fraud rings continue to rise
Saudi Arabia: EXPRO launches insurance for VIP government staff
UAE: LIC International launches equity-linked whole life plan
UAE: Unique insurance product powered by Fitbit
People on the move
MARKET PROFILE - Jordan
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INSURANCE - General
With air traffic in the region continuing to gather pace post-pandemic, attention has turned to attritional losses and rising claims costs, says McLarens Aviation’s Mr David Hitchen.
TAKAFUL
The GCC takaful industry recorded a surge in M&A activity last year. S&P Global Ratings’ Mr Emir Mujkic expects the momentum to continue as ongoing pressure on earnings, intense competition and higher capital requirements will result...
Readers with long memories will remember when the working week across a significant amount of the Middle East was six days.
The profits and GWP of Jordan’s 19 listed insurers have grown steadily in double digits in the first nine months of 2022. In particular, their aggregate earnings achieved a relatively strong rebound, after witnessing a 50% contraction in 2021.
Jordan’s (re)insurance industry, while still performing relatively well and not lacking capacity, faces a few tough challenges. The country’s ongoing development, however, means that there is reason for positivity. We spoke to Hannover...
The pandemic hit Jordan’s insurance sector hard. There is great hope that the new regulator and the new insurance law will spell a new phase of growth and profitability for a sector that has been beset by myriad problems over recent years.
Despite the crisis that hit Yemen and continued for more than seven years, the insurance sector has proven steadfast and resilient, registering notable growth over the last three. United Insurance Company’s and Yemen Insurance...
The post-pandemic pick-up in travel that has come after more than two years of low activity has introduced myriad new risks for airlines to deal with. United Insurance Brokers’ Mr Osama AlTajer discusses these risks and looks at how they can...
The Indian non-life insurance industry reported 15.34% growth in the first six months of the financial year 2022-2023, with gross premium underwritten rising to INR12.5tn ($15.2bn) from INR10.85tn in the same period of last year.
The Indian economy continues to remain a bright spot in the global economy and is currently growing at a healthy rate of over 6%, which bodes well for the reinsurance industry. We spoke to a number of foreign reinsurance branch CEOs from the market...
DIFC’s Ms Gracita Aoa-de Gracia looks at what 2023 might hold for the region’s reinsurance sector.
ESG standards and their implementation are having an impact on all sectors of society. In a developing country like Pakistan, sustainability is a compulsion for organisations to make it a part of their purpose. However, this is not true in most...
India is today one of the most sought after InsurTech destinations, both for early-stage start-ups as well as for unicorns. The market, with 142 InsurTechs, is expected to see major activity in 2023 with favourable regulations, rising demand from...
Possibly the most frequently brought up issue for the MENA insurance industry in the last year was the ability of the sector to attract and retain talent, particularly local ones, and with good reason.
Cyber risk is another rapidly growing area of concern. According to Swiss Re Institute’s (SRI) cyber insurance report published in November last year, annual global cyber losses are estimated to be around $945bn.
More consolidation and M&A activity is expected in the regional insurance industry as regulators continue to tighten their supervision regimes particularly around capitalisation and solvency requirements, according to PwC Middle East.
For the fourth consecutive year, GlobeMed claimed the top spot in the latest TPA Companies Rankings in the MENA region.
Compagnie Algerienne d’Assurance et de Reassurance (CAAR) said that it is currently working on the launch of new services in the fight against cyber risks as the use of technology increases among businesses in the country.
Fast-melting glaciers are releasing staggering amounts of unknown bacteria into rivers and streams, which could transform icy ecosystems, according to new research.
One third of countries across the world have seen risks to their democratic processes increase significantly during the past five years, with corporates operating in poorly ranked countries facing ESG and supply chain threats, according to Verisk...
Currently 3.6bn people face inadequate access to water for at least a month per year and this is expected to increase to more than 5bn by 2050, according to the first edition of the State of Global Water Resources 2021 report.
Saudi Arabia’s Government Expenditure and Project Efficiency Authority (EXPRO) has introduced a health insurance scheme for VVIP and VIP categories of government employees in the kingdom.
LIC International, a joint venture company owned by Life Insurance Corporation of India (LIC) with its headquartered in Bahrain and branches in Dubai and Abu Dhabi, has launched a new unit-linked insurance plan (ULIP) product for the UAE market.
Dubai National Insurance (DNI) has joined hands with wellness-backed insurance platform Wellx to launch Wellx Fit, an insurance product that offers all policyholders a complimentary Fitbit device to track activity and stay on top of their health...
Egypt: IUMI names Egypt’s representative Kuwait: Kuwait Re hires manager property Saudi Arabia: Gulf General appoints new CEO Saudi Arabia: Amana announces changes in top management UAE: GIG Gulf...