Magazine

Read the latest edition of AIR and MEIR as an Interactive e-book

Feb 2025

Contents

February-Home
Editor's Letter
Magazine article aboutSaudi-Arabia-World-Cup-2034

Saudi Arabia World Cup 2034

Market Profile
Magazine article aboutRegulatory-enhancements-help-boost-non-life-growth

Oman

Regulatory enhancements help boost non-life growth

Establishing (re)insurance catastrophe pools in Oman

Plenty of room for growth in Oman life and health

Oman's Financial Services Authority steps up

Oman general insurance holds steady despite challenges

Dhamani, credit life policies and Oman life and health

Oman retakaful and health insurance take off

Insurance
Magazine article aboutCyber-threats-spare-no-sector-in-the-Middle-East

General

Cyber threats spare no sector in the Middle East

Collaborating to boost cyber insurance in MENA

Appetite for cyber insurance in MENA continues to grow

Insurance aggregators and bancassurance in the UAE

Reinsurance
Magazine article aboutHow-re-insurers-deal-with-weight-loss-drugs

How (re)insurers deal with weight-loss drugs

Global Nat CAT, reinsurance pricing and MENA

Saudi Arabia
Magazine article aboutRole-of-LLMs-in-the-Saudi-insurance-and-InsurTech-sector

Role of LLMs in the Saudi insurance and InsurTech sector

Saudi Arabia's ambitious health insurance goal

Broking
Magazine article aboutInsurance-brokers-From-intermediaries-to-partners

Insurance brokers: From intermediaries to partners

Takaful
Magazine article aboutDemand-for-values-based-financial-solutions-drive-takaful

Demand for values-based financial solutions drive takaful

Notebook
Magazine article aboutHow-MENA-can-insure-renewable-energy-sector

How MENA can insure renewable energy sector

Communication with insurers required for clear regulatory vision

Alternative risk transfer and sovereign insurance in MENA

View from India - Foreign investment in Indian insurance

News

MENA

Algeria: Insurance market increases by 5% in 3Q2024

Algeria: Insurers to play a fundamental role in the stock market

Bahrain: SIO to increase employer social insurance contributions

Bahrain: Solidarity-BNH acquisition deal sealed

Egypt: Medical costs projected to surge by over 30% in 2025

Egypt: GWP up by 26% in first ten months of 2024

Jordan: Central Bank of Jordan rejects motor premium increase

Morocco: Regulator studies launching compulsory home insurance

Oman: Integration of health organisations with the Dhamani platform making steady progress

Qatar: Doha insurance set to launch India reinsurance branch

Saudi Arabia: PIF announces completion of acquisition of 23.08% stake in Saudi Re

UAE: Insurance premiums set to rise in January

UAE: Market reaches almost $14bn in first three quarters of 2024

UAE: Watania Takaful partners with Aura to offer health coverage to SMEs

Global

Global: Reinsurers show greater flexibility

Global: New cycle ushers in price reductions, renewed focus on innovation

Global: 2024 Nat CAT losses dominated by flood

US: Los Angeles fires insured losses could top $30bn

Takaful

Malaysia to support development of takaful in Nigeria

Malaysia: Shariah-compliant finance company to offer motor takaful protection

Singapore: Etiqa offers first takaful product in over a decade

UAE: Watania Family Takaful caters for SMEs

Product Bites

Product bites

Diary
People on the move

People on the move

Market Profile

Oman

Regulatory enhancements help boost non-life growth

Economic recovery, consumer activity, continued digitalisation, awareness of Nat CAT risk and regulatory enhancements by the Financial Services Authority were growth drivers of the non-life insurance industry over the past year. 
 

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Establishing (re)insurance catastrophe pools in Oman

The sultanate’s sole local reinsurer continues to invest in the local market through participating in important initiatives such as the Nat CAT pool and introducing new services to meet market needs and serve all segments. Oman Reinsurance Company’s Mr Khaled Nouiri offers updates on the market and recent developments.
 

Plenty of room for growth in Oman life and health

Liva Insurance’s Ms Hanaa Al Hinai talks us through some of the most promising growth opportunities for life and health players in the sultanate – as well as some of the potholes in the road to development. 
 

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Oman's Financial Services Authority steps up

The biggest change to the regulatory environment for insurers in Oman throughout the year was undoubtedly the establishment of the Financial Services Authority, which was set up in March 2024. We offer a round-up of a busy year.
 

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Oman general insurance holds steady despite challenges

The Oman non-life insurance sector has remained resilient and adaptable over the past year, due to continued digital transformation and profitability in lines such as motor and property, said DAMANA Holding’s Mr Georges Chidiac. However, the year has not been without its challenges.
 

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Dhamani, credit life policies and Oman life and health

Oman’s Dhamani health insurance programme and the new Unified Credit Life policy are set to expand healthcare access, attract international insurers and reshape the insurance landscape, enhancing financial security and service quality. We spoke to Gallagher’s Mr Jamie Gee for insights. 
 

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Oman retakaful and health insurance take off

Oman’s insurance market is a small one and takaful business even smaller, but this important sector has shown both tenacity and an upward trajectory. Health insurance is a promising line that has emerged as the fastest-growing segment of the insurance industry in the sultanate. The year 2024 saw a lot of activity in these two areas. 
 

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