Inflation and interest rates emerge as threats
Egypt
Greater push for livestock insurance in Egypt
Impact of emerging business models on financial inclusion and insurance penetration
Insurers struggle to achieve growth
Life and health in Egypt benefit from new legislation
Medical and credit losses impact Egyptian reinsurance
New requirements for credit insurers in Egypt
How can the insurance industry contribute to Arab national security?
Adequate reinsurance capacity to support cedents
Discipline and rationality reign in mid-term reinsurance renewals
Small reinsurers find opportunities in MENA
Saudi Arabia
Saudi Insurance Authority: A bright new future awaits
Energy transition projects are complex and require proper assessment
General
Technology and crop insurance can mitigate climate-change impact
Life & health
Combating abuse in healthcare insurance
Bank Negara's digital initiatives could be a gamechanger
More collaboration needed between takaful and InsurTech
South Asia is a hotbed for takaful
Pace of takaful consolidation picks up
MENA war and political violence
MENA
GCC: Bahrain National Holding's stake in Saudi insurer to be diluted again
GCC: UAE-based InsurTechs eye Saudi market
MENA: Scope of insurance technology in the region explains modest funding
Egypt: Insurance federation studies serious marine accidents globally
Egypt: Regulator ready to receive applications for registration as asset valuation experts
Egypt: Insurers join efforts to reduce plastic pollution
Morocco: Interest-rate hikes pose liquidity risk to insurers
Oman: Insurers' audited financials show aggregate direct premiums jump by 13% in 2022 to over $1.4bn
Qatar: Central bank introduces licence for digital insurance comparison services
Saudi Arabia: Health insurance covers 11.5m nationals
Saudi Arabia: SAMA approves InsurTech rules
Turkiye: Currency fluctuations pose additional complications in February quake claims
Turkiye: Health insurance leads industry growth in 1H2023
UAE: Central bank cancels 50% discount on motor insurance premiums
UAE: Dubai National Insurance continues to promote cycling safety
Global
Global insured losses from Nat CATs at $50bn in 1H
Global insurance M&A drops sharply in 1H
Global: Q2 sees investment of $917m into InsurTech
US: Maui wildfire insured losses could touch $4.5bn
Takaful
Africa: Takaful sector urges adoption of Islamic insurance
Indonesia: Takaful association upbeat about prospects for this year
Qatar: Takaful sector is GCC's most profitable market in 2022
Tanzania: Zanzibar introduces takaful
First cyber insurance law case in Germany
Intellectual property disputes are a major driver of digital health claims
Working with AI linked to risks of loneliness and insomnia
Climate litigation more than doubles in five years
Cheaper to mitigate deforestation risk, yet companies avoid action
US: Health insurer accused of rejecting claims using AI algorithm
A shake-up in asset and wealth management sector imminent by 2027
Risks to global food supplies rising
Global anxiety levels are declining
ESG credit indicators no longer part of reports
Climate risk to crops is underestimated
Howden launches blended insurance product
UAE: Union Insurance Company launches new individual health insurance plan
Turkiye: Fintech Papara launches insurance arm
People on the move
MARKET PROFILE - Egypt
REINSURANCE
Much like the rest of the world, the Arab region suffers from the impact of climate change, including heatwaves, drought and flood. GAIF’s Mr Chakib Abouzaid shares his insights.
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MARKET SPOTLIGHT - Saudi Arabia
Saudi Arabia’s Council of Ministers has paved the way for the establishment of a formal insurance authority. This could be the final piece of the jigsaw that helps place the (re)insurance sector at the heart of the nation’s Vision 2030...
The smooth running of any (re)insurance business requires a stable set of macroeconomic conditions. Sharp changes to any economic variable that has not been forecast and budgeted for tend to disrupt the forward plans for both the underwriting side...
While Egypt’s agriculture and livestock sector is well established, the country continues to face challenges related to climate change, urbanisation, a rapidly expanding population and food and water insecurity. Middle East Insurance Review...
New and creative business models are considered valuable tools for boosting financial inclusion and insurance penetration especially in markets with populations as large as Egypt’s says GIG Egypt’s Mr Kareem Awad.
While Egypt’s insurance market is proving resilient in the face of the country’s challenging economic conditions, the continuing rise in interest rates and inflation means that insurers are finding it difficult to sustain growth rates in...
During the July renewal cycle, the reinsurance market experienced similar pricing and structural market dynamics to those observed during the January renewal period. However, capacity was adequate and pricing was orderly. Gallagher Re MENA’s...
The July 2023 reinsurance renewals in Middle East saw the initiation of a disciplined approach and prudence in pricing and structural market dynamics. Berkshire Hathaway Specialty Insurance’s Mr Neeraj Yadvendu shares his thoughts.
Saudi Arabia’s ambitions to increase renewable sources of energy present opportunities for insurers to provide comprehensive cover for projects. However, proper assessment and technical expertise is needed. Middle East Insurance Review spoke...
While the insurance industry and Indian government are putting in efforts to support the country’s agriculture sector from the vagaries of climate change, technology is perhaps the best solution in the present circumstances. Bajaj Allianz...
Improper practices in healthcare continue to be a major dilemma that leads to losses in providing services to all parties, including health insurers and the insured. Health insurance is more vulnerable to fraud and misuse, which requires concerted...
Bank Negara Malaysia’s proposed framework for licensing and regulation of digital insurers and takaful operators is likely to bring substantial changes to the insurance sector in Malaysia. Middle East Insurance Review takes a look.
Takaful operators in Malaysia face similar challenges to their conventional counterparts in trying to adapt new technologies. Requirements to comply with shariah principles present opportunities for tech firms to provide solutions to navigate...
South Asia is home to 640m Muslims, one-third of the region’s population, which offers huge scope for the growth and development of takaful.
The MENA region is a highly complex war and political landscape that demands significant underwriting focus. Arch Insurance International’s Mr Jalal Chtioui says this offers significant potential for market development and growth where price...
Bahrain National Holding (BNH), one of the largest insurance companies in the Kingdom of Bahrain, looks set to again reduce its stake in Arabian Shield Cooperative Insurance Company.
Saudi Arabia is becoming the market of focus for UAE-based InsurTechs, said Daman chief government and development officer Saif AlJaibeji in an article by Wamda, platform of programmes and networks that aims to accelerate entrepreneurship ecosystems...
A growing cohort of InsurTech startups have entered the insurance space to help incumbents digitalise their processes, according to a blog on the website of Wamda, which operates a platform of programs and networks that aims to accelerate...
In a significant legal precedent, a regional court in Germany has delivered the first judicial decision concerning cyber insurance in the country.
Intellectual property (IP) claims account for almost a fifth (18%) of the claims made by digital healthcare providers.
Employees who frequently interact with AI systems are more likely to experience loneliness that can lead to insomnia and increased after-work drinking, according to a new research published by the American Psychological Association.
Howden announced the launch of a blended insurance product that brings together professional indemnity, crime and cyber liability into one policy and under one limit.
Union Insurance Company has launched a new individual health insurance solution in the UAE.
Turkish fintech Papara announced the launch of its insurance arm that would bring fast insurance to users in Turkiye.