Better off rattling than wobbling
General
Making a better business case for ESG
ESG as a workforce strategy
Overcoming hurdles to adopt blockchain
Blockchain: Insurance use cases, challenges and solutions
Life & health
Futureproofing healthcare with technology
Jordan
Economic recovery needed before market can grow
Addressing the profitability challenge
Intense competition creating barriers to profit
Fragmented market but enough reinsurance potential
Focused on digital development
Adapting to a new regulator
How Middle East insurers can effectively transition to IFRS17
Re-connecting ... Re-shaping the future
Making reinsurance capital more efficient
A new reinsurance partner in DIFC
Reinsurance realities in Kuwait
View from India
Lack of reinsurance support is a top risk
Creation of a takaful champion
The future of actuarial development
MENA
MENA: Online Orange Card launch
GCC: Oman's NLGIC to enlarge regional footprint
Egypt: Financial regulator develops credit rating system for the unbanked
Egypt: Insurance for state-owned airline's Russia flights
Jordan: Insurance federation lists measures needed to develop the sector
Kuwait: KIC's strong operating performance backed by solid technical results
Qatar: Listed insurers' net profit more than double in 2021
Tunisia: Regulator seeks presidential decree to enact insurance law
UAE: Insurance players expect cyber business to surge
UAE: Federal credit insurer increases its coverage, reaches more markets in 2021
Global
Global: Russia-Ukraine war adds to a bumpy start to 2022 for global reinsurers
Global: Insured Nat CAT losses to exceed $14bn for 1Q2022
US: Cyber insurance sees rapid premium growth, declining loss ratios
Takaful
Egypt: Contributions drop by 25% in 2021
Qatar: QIC to form shariah-compliant asset management joint venture
Saudi Arabia: Local reinsurer to increase capital to $356m through IPO
UAE: Dar Al Takaful and Watania merger to take effect in June
Global: IFSB issues exposure draft on takaful core principles
Insurers also seek disclosure of environmental data from companies
Real-time data is a crucial asset in fraud fighting
Over a half of insurers experience increased pressure on ESG
Workers in UK consider a greener role even at a lower salary
Australia: Overhaul of cyber policy recommended
US: New rules proposed to enhance and standardise climate-related disclosures
Companies finance fossil fuel production
Major financial organisations align over sustainability reporting
G20 nations lose $1tn a year due to preventable health conditions
Asia Pacific leads the first quarter of 2022 in natural hazard losses
Kuwait: Launch of new comprehensive travel insurance product
Pakistan: Salaam Takaful extends parametric-based crop takaful coverage
Pakistan: EFU Life and Bykea partner to offer in-ride takaful protection
UAE: yallacompare launches exclusive 24/7 personal accident extension
People on the move
INSURANCE - General
MARKET PROFILE - Jordan
The aggregate profits of the 18 listed Jordanian insurers shrank 31.4% y-o-y to JOD17.7m last year due to economic slowdown from the pandemic and intense competition. The dismal situation means that industry stakeholders need to develop viable...
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TAKAFUL
Many in the takaful industry have become inured to claims that the sector is finally going to turn the promise of significant growth into reality. But now it appears that real change might be on the horizon with the merging of two UAE-headquartered...
In many ways, the Middle East has become as sophisticated as any other part of the world over the past 20 years.
The growing awareness of ESG represents a business opportunity. For GCC insurers that operate in hydrocarbon-dependent economies, this means rethinking their businesses and looking across their value chain to address ESG-related risk holistically...
Over the last few years, ESG issues have become more of a concern among younger generations. Marsh’s Mr Scott Williams talks about how this could affect an insurance organisation’s ability to attract and retain talent.
Blockchain offers vast potential to improve the operations of insurers in the MENA region. It can be used to develop smart contracts, automate claims and even provide digital evidence for underwriting. However, blockchain adoption in the region...
Jordan’s insurance market saw growth in premiums but a collapse in profits in 2021. However, further adoption of technology and a new regulator could mean a brighter future.
Jordan life insurers face a market with low disposable incomes and rising unemployment rates, both of which affect the appeal of their products. We spoke to some experts to get their thoughts about the challenges facing the industry.
With the IFRS17 implementation deadline looming on the horizon, KPMG’s Mr Anay Srivastava takes a look at some of the things insurers can do to make sure their transition strategy is on point.
The announcement from the Singapore Reinsurers’ Association in early April that the 18th SIRC 2022 would be an in-person event came as a great relief to the many thousands of delegates and visitors who have made the annual reinsurance event a...
As a global business, Allianz Re views the world through a very wide lens. We spoke to the reinsurer’s Mr Holger Tewes-Kampelmann to see where the opportunities and risks lie and what the year ahead might hold in store.
With its DIFC operation having recently opened in March this year, we spoke to Gallagher’s Mr Nadim Semaan to find out more about the move and what its plans are.M
Nicholas Actuarial Solutions, an established player in Southeast Asia, is one of the latest entrants in the MENA actuarial space. We spoke to Mr Nicholas Yeo to find out what drew the company to the Middle East and what potential lies ahead for...
The Inter-Arab Automobile Insurance Card (Orange Card) was launched in a digital format on 1 April 2022, dispensing with hard copies, said Tunisian Unified Automobile Bureau head Ahmed Hadroug.
Oman International Development and Investment Company (OMINVEST) said its subsidiary National Life & General Insurance Company (NLGIC) has entered into agreements to acquire 100% of UAE-based RSA Middle East.
The Financial Regulatory Authority (FRA) is adopting an expansionary strategy to develop non-bank financial activities, by setting the necessary controls and legislation to keep pace with digital transformation processes, in line with global markets.
More than 680 financial institutions with more than $130tn in assets have sought disclosure of environmental data from nearly 10,400 companies.
In a recent study FRISS has highlighted the challenges and opportunities facing insurers in their efforts to combat fraud throughout the policy lifecycle.
Insurance businesses are rethinking their strategies and the way that they undertake business, as 55% of senior executives working in the sector said that over the last two years, they have experienced increased pressure on ESG matters from...
Lebanon’s insurance and reinsurance broker Globe Travel Solution has partnered with Kuwait Insurance Company and insurance brokerage company Insure & Secure to launch a new travel insurance product in Kuwait.
Salaam Takaful has launched a parametric crop takaful product, a weather-index-based solution on a parametric basis backed with satellite technology and advisory service.
Bykea, an all-in-one app for transportation, delivery and payment services, has partnered with EFU LifeAssurance to offer in-ride takaful protection to its customers and driver-partners.