The rising profile of political risk
Bahrain and Qatar face flood risk challenge
Insurance to make agriculture climate resilient
Monitor to mitigate (risk)
Record rainfall threatens to drown Arabian Gulf
Morocco
AgriTechs can help agriculture grow despite the challenges ahead
A competitive non-life market in Morocco
Growth and stability in Moroccan reinsurance
Higher insurance profitability in Morocco despite macroeconomic challenges
New developments for regulations in Morocco
Life insurance continues to grow at rapid rate
Inflation, Nat CAT and claims in Moroccan reinsurance
General
Egypt's insurers see respite despite gloomy outlook
UAE: Insurers review risk management polices amid floods
Floods call for collaboration between insurance and technology
SIRC Connect
Ensuring mental health wellbeing in reinsurance
Saudi Arabia: Listed insurers record profits across the board
Newcomers can make an impact in the MENA region
Shariah-compliant policies in Canada
Insurers need consistency amid volatility in the region
MENA
Middle East: Chedid Capital acquires remaining 20% stake in Groupe Ascoma
Middle East: Climate warming makes GCC states more vulnerable to flooding
Middle East: Wary reinsurers adjust Nat CAT coverage
Middle East: S&P says insurers currently broadly unaffected by Israel-Hamas war
GCC: Growth prospects in insurance market
Bahrain: Nasco Insurance Group acquires Crescent Global Insurance Services
Egypt: Regulator prepares studies on forming national reinsurer
Morocco: Insurers use digital technology to crack down on fraud
Qatar: Central Bank developing digital insurance framework
Saudi Arabia: Direct channel dominates sales but market share dips
Saudi Arabia: Government to insure historical sites
Türkiye: Top reinsurers disclose losses arising from Kahramanmaras earthquake
UAE: Comprehensive auto insurance premiums rise by up to 20% in 1Q2024
UAE: Dubai National Insurance approves a cash dividend of 10%
UAE: Insurance sector in DIFC posts record-high premiums in 2023
UAE: Anoud Tech launches UAE Operations
Global
Global: New record for Nat CAT losses in 2023
Global: Munich Re maintains promising outlook for the year
US: Social inflation remains worrisome for casualty insurers
Takaful
Bahrain: Takaful International reports 13% increase in profit
Malaysia: Takaful operations push MNRB's aftertax profit to historic high
Morocco: Takaful business gains momentum
Qatar: Listed takaful providers' profit outpaces conventional in 1Q
Saudi: Aljazira Takaful profit jumps by 79% in 1Q
UAE: High underwriting earnings boost Watania's profit in 1Q
UAE: SALAMA 1Q net profit jumps 118%
Rising cyber threats pose serious concerns for financial stability
Climate change financial impact could be twice that of previous estimates
Insurers optimistic about AI impact on underwriting quality
Avian flu could be transmitted to humans
Inflation main driver for rising cargo crimes
Why are major cities in China sinking 'rapidly'?
Climate change could spread malaria risk to new countries
Climate change creates a 'cocktail' of serious health hazards
Vulnerability exploitation surged by nearly 3X in last one year
Safety and risk management infrastructure expanded
Almost 85% of supply chains can't respond to disruptions in 24 hours
Indonesian forests under threat from nickel mining
Four ASEAN countries among the world's top emitters at high risk of climate disaster
Intangible versus tangible risks comparison
Daman launches its first non-health insurance product
Liva Insurance partners with Thawani Pay to provide third party motor insurance to app users
Chubb and Arta partner to launch embedded valuable insurance product
Saudi Arabia newly launch insurance for heritage buildings and artworks
Marsh introduces a crypto-asset insurance solution tailored for clients in the EU
People on the move
MARKET PROFILE - Morocco
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MAPPING THE RISK ENVIRONMENT
The Arabian Gulf was hit with record heavy rain in April, with a year’s worth of rainfall hitting the region in just a single day. The insurance implications are worrying, with possible knock-on effects on reinsurance. We take a look at the...
INSURANCE - General
The insurance industry in Egypt has been challenged by inflation and currency problems but things are looking better. Middle East Insurance Review spoke to Orient Takaful Insurance’s Mr Mohamed Abdel Rassoul about the market and upcoming...
Many insurers in the MENA region still need to be focused on the growing threat to the continued stability of their business models presented by the increase in number and severity of natural catastrophes. Others are turning their attention to the...
Bahrain and Qatar witnessed substantial rainfall in April this year, which served as a wake-up call for the two nations to assess vulnerabilities from extreme weather events and build resilient communities.
Agriculture is deeply impacted by climate change, especially in arid regions like the Middle East. Agri-technologist Mr Deepak Pareek shares his thoughts on how insurers and governments in the Middle East can contribute to sustainable agriculture...
Complex and high-risk navigation in the marine sector can be managed by monitoring other vessels and even weather events. Preventative measures can then be used to reduce risk. We find out more.
The unique advantages of Morocco’s geographical location notwithstanding, its agricultural sector grapples with a variety of risks. DeepLeaf AgriTech’s Mr El Mahdi Aboulmanadel says technology with government and regulatory support can...
There are a number of factors contributing to Morocco’s dynamic insurance landscape – premium growth, demand for health and property insurance and the introduction of compulsory lines.
The reinsurance market in Morocco has stabilised and will offer ample opportunities for growth in the coming year, says IGI Casablanca’s Mr Youssef Alaoui.
The UAE insurance industry is built on strong foundations and the market offers tremendous opportunities for serious players, says Union Insurance Company’s Mr Ramez Abou Zaid.
Indian agriculture needs to adopt both insurance and technology proactively if it wants to survive the ravages of climate change, especially floods. Mahindra Insurance Brokers’ Mr Akash Singh Soam lays out the blueprint for the country’s...
Mental health wellbeing in the workplace has become more important than ever, as remote offices have increased social isolation and combined workplace and home stress into a tangled knot that many employees cannot unravel without professional help....
Insurers in Saudi Arabia have displayed strong performance in premium growth and profitability. The recovery and growth of motor insurance in the country has improved the performance of the industry, according to analysts.
Having new entrants is a healthy indicator that the market has potential and that there is room for further development; however, they must innovate and not replicate the existing formulas, says Makeen Insurance & Reinsurance Brokers’ Mrs...
Many in Canada’s immigrant Muslim population are not protected due to lack of shariah-compliant products. More importantly, they are unable to secure loans that could help them build a life, according to CHES Special Risk’s Mr Gary...
The DIFC remains an attractive hub for MGAs and regional (re)insurers looking to gain access to markets in the GCC and the Middle East. An uncertain risk environment is starting to pose challenges for insurers in the region.
Chedid Capital has announced the acquisition from the Husson family of the remaining 20% stake in Groupe Ascoma, sub-Saharan Africa’s leading independent brokerage network.
Ongoing economic development and rapid urbanisation will result in further accumulation of infrastructure and private assets that need to be insured, including against natural catastrophe risks, said Swiss Re Institute (SRI).
International reinsurers are starting to categorise the Middle East as a Nat CAT hot spot, given the increased frequency of natural hazards in the region in recent years, according to Apex-Egypt Reinsurance Brokerage managing director Khaled...
Cyber attacks have more than doubled since the pandemic and while companies have historically suffered relatively modest direct losses from cyber attacks, some have experienced a much heavier toll.
Climate change will reduce future global income by about 19% in the next 25 years with the poorest areas and those least responsible for heating the atmosphere taking the biggest monetary hit, according to a new study.
Almost two-thirds (62%) of insurance executives recognise AI and machine learning technology as elevating underwriting quality and reducing fraud in the insurance industry.