Zurich: Zeroing in on opportunities
RSA: In good shape to realise ambition
Tunis Re: In step with partners
Construction & Engineering
All risks considered
Time for a mandatory decennial
The boom, bust and innovation
Risk-management priorities
Egypt
Time to build force
Takaful in Egypt: In need of a differentiating element
July renewals
From return to sanity to testing times
Boosting demand through value creation
Regulations
Paving ways for a level playing field
Bancassurance
For the sake of investors
Saudi Insurance Symposium
Insurers need to do more to keep in step with Vision 2030
World Takaful Conference
Where's the profit?
Looking inward for innovation
Disruption of insurance? Don't get carried away
MENA
MENAP: Faster growth next year
Algeria: Premiums grew 2.4% to $1.2 bln in 2016
Bahrain: Insurance sees return on equity of 5% for 2016-18
Bahrain: A first FAIR Conference in Oct
Iran: Quake-hit residents supported by insurance
Iran: Motor accidents inflict $9.9-mln economic toll daily
Iran: Export credit agency reports surge in business
Kuwait: Market to see fewer players
Kuwait: Traffic Dept ponders daily fine for non-renewal of motor insurance
Kuwait: Health Ministry eyes electronic system to collect premiums
Morocco: Regulator mulls amending insurance law to keep up with digital changes
Morocco: Mr Mehdi Tazi, former CEO of Saham, now a majority shareholder in insurance broker Belassur
Morocco: More than 1 in 4 citizens lack access to healthcare
Morocco: Wafa Assurance tops insurance mart for 9th year running
Morocco: Index insurance for farmers to undergo trial this year
Oman: National Life sees record GWP of $263 mln
Oman: Merged entity Arabia Falcon Insurance starts ops
Qatar: P&C premiums forecast to grow by 10% in 2017-18
Qatar: QIC Group posts 15% GWP growth to $849 mln in 1Q2017
South Sudan: Govt gets loan to join African financial bodies
Tunisia: Mandatory motor premiums increased by 10-20% from 8 May
Tunisia: Collective agreement gives insurance execs 6.8% pay rise
Turkey: Total premiums up 16% in 1Q despite slow motor business
UAE: New regulations to offer policyholders better protection
UAE: Sheikh Mohammed cancels 20% co-pay on private treatment for Thiqa holders
UAE: Insurance Authority plans two protection funds
UAE: Bright profit outlook for insurance industry this year
UAE: Abu Dhabi Global Market creates financial services talent hub
UAE: Orient nets 35% of overall profits of insurance mart
UAE: Over 40% of millennials yet to start saving for retirement
UAE: Motor insurance buyers favour agency repair & accident cover
UAE: New drivers to receive two-year licences
UAE: Zurich & Standard Chartered in 10-year bancassurance deal
Global
WannaCry attacks spur demand for cyber insurance: Fitch
Scor merges European hubs to create a single EMEA operation
Takaful
Global takaful industry remains small despite 12% growth last year
Malaysia: Tune Protect receives green light for retakaful window
Malaysia: Allianz Malaysia halts HSBC Amanah Takaful M&A talks
Malaysia: BIMB said to consider sale of stake in Syarikat Takaful
Pakistan: Health insurer launches takaful window operations
Saudi Arabia: More localised jobs needed in insurance - SAMA head
Saudi Arabia: Bupa to invest $267 mln to raise stake in Bupa Arabia
Saudi Arabia: Health insurers must offer minimum network of health service providers
Saudi Arabia: Insurance more than doubles underwriting gains in 2016 to $564 mln
Saudi Arabia: Healthcare sector to require $67 bln by 2030
Saudi Arabia: Insurers want annual motor licensing and insurance renewal links
South Africa: FNB Islamic Banking launches takaful
Sudan: Lawmakers pass new Insurance Control Act
UAE: Abu Dhabi National Takaful's gains soar for 7th year in a row
UAE: Dar Al Takaful issues rights to raise capital
People on the move
FEATURE - July renewals
Buy Now
COVER STORY - Construction & Engineering
Construction and engineering insurers in the Middle East have learned to live with the infrastructure slowdown following the oil prices crash and now increasingly seek to differentiate their products and broaden their scope to retain market share....
THE LAST PAGE
Dr Kai-Uwe Schanz of Dr. Schanz, Alms & Company cautions against the disruption debate raging across the global insurance landscape taking on a life of its own, and says it’s time to pause and recap a few facts.
Zurich Insurance Company, operating from the DIFC, adopts an agile business model and continues to develop in the region. It is committed to MENA and will look at ways to better balance its portfolio and explore cross border opportunities, says Mr...
RSA prides itself on always being forward-looking and is confident that the market will reward it with profitable growth in 2017. Mr Chris Dooley, Chief Executive Officer – UAE & Managing Director – Bahrain, says his goal is to...
Growing protectionism and stringent rating requirements are keeping regional reinsurers on a tight leash. But there are exceptions. With a prudent underwriting strategy, high technical capacities and perfect partners, Tunis Re manages to sustain...
There are not many takers for decennial liability insurance despite the UAE Civil Code stipulating that contractors are liable to compensate the employer for 10 years from the date of delivery, if the building suffers any collapse, or there is a...
New products such as surety insurance – guarantees for contracts and other financial obligations – are set to grow with construction companies in the Middle East staring at major debt obligations accentuated by delays in government...
The insurance market has made efforts to deal with the profound economic reforms in the country over the past couple of years, including currency float. While growing the business, the industry has made steady strides to modernize online...
The first takaful company in Egypt started operations in 2003 and the market has grown in number of players and size of contributions. Mr Omar Gouda of Africa Retakaful says takaful operators have a long way to go and should seriously think of the...
Though the January renewals saw the return of sanity and focus on profitability, the July renewal will see partnerships tested. Mr Mahomed Akoob of Hannover ReTakaful says business is challenging, and challenging is good!
MENA insurers need to offer more value by providing tailored solutions, leveraging new technologies and embracing innovations to stay competitive, says Mr Ronald Chidiac of Zaris & Partners.
Excessive commissions and upfront fees charged to customers while selling life and savings products are going to be history if the UAE Insurance Authority has its way. Mr Anand Singh of Kennedys reviews the draft regulations and examines if a level...
The UAE Central Bank’s new directive will have a direct impact on the bancassurance business and hit the revenues of banks and life insurance companies in the short term.
Despite the progress of the past decade, insurers are required to strengthen their operational strategies and performance to keep up with the Kingdom’s future ambitious vision, said speakers at the 4th Saudi Insurance Symposium in Riyadh in...
The takaful industry in the Middle East is under significant pressure on the overall profitability despite impressive topline growth for general takaful operators. Speakers at the 12th World Takaful Conference deliberated the vexed issues and...
While the seed of takaful was right, the tree has not grown organically. An inside-out innovation can transform it into a true takaful tree. If protection can be simplified by keeping complexities behind, a true takaful model can be created, which...
Economic growth in the Middle East, North Africa, Afghanistan and Pakistan (MENAP) region is expected to remain at 2.6% for 2017, rising to 3.4% in 2018, compared to expected global growth of 3.5% and 3.6%, respectively. Higher commodity prices and...
Premiums of the Algerian insurance market grew 2.4% om 2016 to DZD133.9 billion (US$1.2 billion) [including international acceptances], compared to the previous year, said Mr Abdelhakim Benbouabdellah, Secretary of the National Insurance Council and...
The return on equity in the Bahraini P&C insurance industry is estimated to average about 5% annually in the 2016-18 period, nearly unchanged from 2015, but down from an annual average of 7.4% of the 2011-15 period, according to S&P Global...