The ongoing unrest in various Arab countries should prompt insurers to actively find proper solutions for new conditions, said Mr Othman Bdeir, President of Jordan Insurance Federation (JOIF), at the 4th International Conference on Insurance & Marine Transportation in Aqaba, Jordan recently.
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The world's interconnectedness and the severity of accidents are increasingly creating risks which should not be dealt with through conventional methods, said Mr Abdul Khaliq R Khalil, Secretary General of the General Arab Insurance Federation (GAIF) at a recent seminar in Casablanca.
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GDP growth in the MENA region is projected to slow to 2.5% in 2013 from 3.5% in 2012, reflecting a second year of recession in Iran, subdued growth in Egypt and a modest pickup in Algeria, a World Bank report said.
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QBE has launched environmental liability and aviation excess liability products in the Middle East from its hub in Dubai.
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Japan-based financial services group ORIX Corporation has reached an agreement to buy approximately 25.7% of Bahrain-based Mediterranean and Gulf Insurance and Reinsurance Company's (MEDGULF's) issued shares.
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Trust International Insurance and Reinsurance Company (Trust Re) has increased its paid-up capital to US$140 million from $100 million, and doubled its authorised capital to $200 million.
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Kuwait's insurance market is experiencing a period of uncertainty, as premium growth has been volatile in recent years, and insurers currently await regulatory developments, said A.M. Best in a new report.
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Nexus Financial Services has moved into Kuwait's insurance market as part of its regional expansion, appointing Mr Sunit Arora as General Manager of the new Kuwait office.
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The National Health Insurance Scheme (NHIS) will be fully operational by 2015, said the Supreme Council of Health (SCH), with the first phase of the five-stage scheme which started in July covering the maternity, obstetrics, and gynaecology needs of all Qatari women aged 12 upwards.
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Qatar is preparing a seismic code for buildings which is expected to be ready by the end of 2013, said media reports citing the Central Municipal Council (CMC).
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SEIB Insurance and Reinsurance Company and The College of Arts and Sciences (CAS) at Qatar University (QU) have signed a five-year agreement to organise student internships and workshops in all the relevant fields at the College.
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Abu Dhabi National Insurance Company (ADNIC) has signed an MoU with Universal Hospital of Abu Dhabi that will see ADNIC offering its medical insurance customers access to the Hospital's medical services.
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The Sharjah Health Authority (SHA) has introduced a new unified health insurance scheme with effect from 1 June to provide equal benefits to government employees and their dependents, and support the public and private health sectors in the emirate.
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About 8.6% of medical insurance claims were found to be disputable between the insurers and healthcare providers in the UAE, according to a study by healthcare management company AccuMed PM.
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