Egypt and Saudi Arabia are among 17 countries that are significantly under-insured by an annualised sum of US$168 billion, said a new research commissioned by Lloyd's of London.
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American International Group (AIG) has launched a bespoke product to offer business risk and insurance cover to negate the threat of cyber attacks in the Middle East region.
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AXA Mediterranean and Latin America region (AXA MedLA), a subsidiary of AXA Group, and Grameen-Jameel Microfinance have signed a Memorandum of Understanding (MoU) to jointly provide microinsurance solutions in the MENA region and in Turkey.
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Saudi Arabian Insurance Company (SAICO) and Cigna's Global Health Benefits business have signed a 50:50 joint venture (JV) deal to enhance their current partnership in developing their portfolio of health, wellness and insurance products targeted at regional and multi-national employers across the Middle East.
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Dubai has emerged as the top investment target for both investors from the UAE and from other cities in the GCC region, with 80% of HNWIs very likely to make an investment in Dubai during 2013, said global real estate consultant Cluttons in its first Middle East Private Capital Survey.
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State-owned United India Insurance (UII) is planning to enter the Middle East and South Asian Association for Regional Cooperation (SAARC) countries to tap the regions' potential coming from the strong presence of non-resident Indians, said media reports.
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Aria Assistance, the independent UK insurance and assistance company, has inked a strategic partnership with regional TPA provider GlobeMed to provide assistance services for its customers in the MENA region.
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Takaud Savings and Pensions has launched its first corporate solutions services and product designed to support businesses in understanding and managing efficiently and cost effectively their end-of-service-benefit (ESB) liabilities.
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The investment business firms sector reported total assets under management (AUM) of US$16.5 billion as at 30 September 2012, up 72.4% y-o-y.
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Jordan Insurance Federation (JOIF) and the German-Jordanian University (GJU) have signed a Memorandum of Understanding (MoU) to establish the Jordan Insurance Institute, a specialised insurance training and consultation centre.
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National Life and General Insurance (NLG) is sponsoring medical insurance for the staff of Dar Al Atta'a, a non-profit organisation catering to the underprivileged in Oman.
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The Public Authority for Social Insurance (PASI) has signed an agreement for the construction of the Authority's multi-purpose investment project at a cost of OMR68.13 million (US$176.9 million), said media reports.
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The Qatar Finance and Business Academy (QFBA) has launched its 2013 programme, which will cover insurance, Islamic and non-Islamic finance, rules and regulations, compliance and anti-money laundering, as well as soft and basic skills.
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Qatar Insurance Company (QIC) and its main subsidiaries recently earned a financial strength and issuer credit ratings of 'A' (Excellent) and "a", respectively, from A.M. Best, making it the only insurer in the Arab region to obtain two 'A' ratings from international rating agencies, including S&P.
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New legislation to upgrade the banking and financial sector has vested the Qatar Central Bank (QCB) with supervisory authority for additional sectors, including insurance, media reports said.
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The Dubai Health Authority (DHA) has launched the second phase of a project to ensure that all insurance claims in Dubai are electronic, help develop a unified coding of medical information and minimise insurance fraud.
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Edinburgh-based pensions and saving company Standard Life has opened its first Middle East office in the DIFC as part of its strategy to broaden its distribution platform and expand international footprint in high-growth, high-value emerging markets.
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Up to 58% of UAE residents admit they never purchase travel insurance when they go abroad, while a third (32%) only occasionally do so, according to research by Zurich. Arab expats (67%) are the most likely to travel abroad without insurance, followed by Asian expats (43%).
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Abu Dhabi National Insurance Company (ADNIC) has announced an exclusive insurance partnership with Ghantoot Marina and Resort, in a deal that requires ADNIC to provide the resort's yacht and boat owners with preferred rates on insurance products.
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