Natural catastrophes, which are increasing in terms of frequency and the size of economic losses they cause, should prompt Arab insurance markets to exert greater efforts to face this threat, said speakers at a recent seminar addressing Nat CAT threats in the region.
Bermuda-domiciled specialty insurance carrier Relm Insurance has entered the MENA region through the acquisition of B&F Partners Ltd., now known as Relm Insurance MENA Ltd.
The share of life insurance in the Arab region varies from country to country from only about 2% of the premiums in some markets to over 51% in others, pointed out Mr Chakib Abouzaid, the secretary-general of the General Arab Insurance Federation (GAIF).
The need for insurance in the MENA region has never been stronger than it is today - and that's why the industry is attracting the best-of-the-best at every level, from the C-suite on down.
The Dubai World Insurance Congress began just two weeks after unprecedented levels of rain in the UAE. The risk landscape in the MENA region is volatile with significant developments in political violence, Nat CAT and economic uncertainties.
AMAN UNION and the International Credit Insurance & Surety Association (ICISA) have announced a Joint Strategic Collaboration aimed at fostering mutual cooperation and knowledge sharing in the realm of trade and investment insurance.
Bahrain-based Arab War Risks Insurance Syndicate (AWRIS) has announced a strategic partnership with Cyprus-based Ixpan, a pioneering platform specialising in risk underwriting/transfer solutions.
The number of mergers and acquisitions (M&As) in the insurance industry in the Middle East & Africa (MEA) dropped by more than a third to 15 in 2023 from 24 in 2022, according to the report "Insurance Growth Report 2024" by the global law firm, Clyde & Co.
Misr Insurance Holding Co's senior specialist marketing and business development Azza Gaber bagged the General Arab Insurance Federation's (GAIF) Insurance Research Award.
The board of directors of the General Arab Insurance Federation (GAIF) has announced a number of recommendations to be implemented by the grouping.