From Editor-in-Chief

GTG: Taking takaful to the next level

The Global Takaful Group (GTG) is ramping up its activities and becoming more visible in its role of facilitating the exchange of information and experiences amongst members. Mr Shahril Azuar Jimin, Chairman of GTG and Chief Commercial Officer of...

Libya: Insurers expect brighter future

The future looks positive for Libya Insurance Co and the industry in general, but a lot more needs to be done on the regulatory front, says Mr Mokhtar M Daerah, Chairman and General Manager. By Osama Noor

Bancatakaful - Crucial to satisfy the needs of customers

Middle East Insurance Review asks Mr Sohail Jaffer of FWU Global Takaful Solutions about the basic tools for success in bancatakaful and how companies can build up a sustainable, long-term strategy.

C&E: Beware the sting in the tail!

With the construction market in the Arab region looking underpriced, Mr Raik Wittowski of Swiss Re Corporate Solutions warns against the dangers of treating construction insurance as a commodity.

C&E: Construction in a changing environment

The construction and engineering sector needs insurers and risk managers to help it stay one step ahead, says Mr John Ambrose of ACE.

C&E: Insuring architects and engineers

Demand for professional indemnity (PI) insurance for architects and engineers has increased significantly in the MENA region, along with the rising number of construction projects. Mr Samir Hemsi of Argo Re looks at the process involved in...

Call for code of conduct to guide players

A code of conduct would help players operating in the highly competitive UAE insurance market, said participants at the first UAE roundtable organised by Middle East Insurance Review. But while there are obstacles to growth, participants maintain a...

Interview with regulator: Guidance for a leading market

The UAE insurance market, still in the lead among the GCC markets with US$7.2 billion in premiums in 2012, can expect to see new regulations concerning insurance brokers and financial aspects of insurance operations in the second half of this year,...

Aviation: Aircraft technology: what does the future hold?

Mr David Bickerton of Airclaims Middle East looks into the crystal ball to see the kinds of changes in aviation technology and what this could mean for underwriters.

Aviation: Risk management in the Middle East business aviation market

From forming different alliances with major aviation insurance players to offering risk management solutions and perfecting crisis management, the aviation risk and insurance management process is evolving. Mr Ali Al Naqbi of the Middle East...

Actuarial issues: A case for accurate reserving

Mr Raghav Ohri of Lux Actuaries & Consultants discusses the importance of accurately estimating unpaid claims in non-life insurance, and how these reserves are calculated.

Takaful: Product integrity and takaful reputation risk

Mr Steven Dewhurst and Professor Andrew White of DAC Beachcroft look at the widespread practice of "re-engineering" takaful contracts from conventional insurance contracts and examine the significant reputational and legal risks it creates for...

Shariah speaks: To tell or not to tell?

How much should management share with their Shariah boards? Does it make more sense to only present what is deemed "palatable" in order to ensure a faster approval of products? Two scholars share their thoughts on cultivating an open and effective...

Iraq: Ready for take-off

Steady growth in Iraq's insurance sector has been seen, although levels of premiums still appear to be lower than their potential. Mr William Wakeham of AAIB looks at some of the latest developments and growth drivers in this emerging market.

Iraq: After the fire: Status of Defense Base Act in post-war Iraq

Mr Michal Gnatek of Lockton examines the workers' compensation options available to US companies deploying human assets in emerging countries like Iraq.

Bancatakaful: At the crossroads

Banks and insurers - be they conventional or Islamic - are at the crossroads as they will need to improve their products and services to meet the needs of their markets in order to succeed, says Mr Tamer Saher of RGA Reinsurance Company Middle East.

Making bancatakaful a money - spinning proposition

Mr Muhammad Ashfaq-Ur-Rehman looks at what is needed to unlock the potential in bancassurance and bancatakaful.

Bancatakaful in Qatar: A great opportunity

There is room for both takaful and bancatakaful to expand in Qatar, says Mr Pervaiz Ahmed of Qatar International Islamic Bank.

Sudan: Making headways despite challenges

Sudan's insurance sector has continued to grow despite the country's unstable economic and political conditions. Still, there are signs that the sector's development has not been in tandem with the country's true potential.

Sudan: Regulator upbeat on insurance prospects

Sudan's takaful experience has been rewarding for serious players and the market has a promising future, says Mr Mohammed Musa Idris, General Manager of the Insurance Supervisory Authority.

Takaful: Meeting great expectations

Takaful's share of global gross premiums remains paltry, and discourse on the segment has focussed more on the potential than on the realisation. Speakers at the 8th Asia Takaful Conference in Singapore gave their takes on what can be done.

Lifting corporate governance standards in the QFC

Ms Susan Dingwall of Norton Rose Fulbright LLP looks at rules recently announced by the Qatar Financial Centre (QFC) Regulatory Authority which seek to strengthen regulation on governance and risk management.

MENA & GCC: Insurers should help realise Africa's potential - AIO

Insurers should help realise Africa's rich potential by offering their expertise in mitigating risks, said speakers at the 40th African Insurance Organisation (AIO) Conference in Cairo.

MENA & GCC: Political uncertainty overshadows marine business in MENA

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 &...

MENA & GCC: Emerging risks should be tackled through "unconventional" means - GAIF

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...

Insured losses in Germany from floods could reach US$8 bln - AIR Worldwide

Catastrophe modelling firm AIR Worldwide has estimated insured losses in Germany from the recent floods in central Europe at between EUR4 billion (US$5.2 billion) and EUR5.8 billion.

GIC Re plans worldwide expansion

India's national reinsurer General Insurance Corporation of India (GIC Re) is plannig to expand globally through strategic alignments in South Africa, upgrading its status in Brazil, enhancing its presence in South Asia and building a presence in...

IFSB Summit calls for more equitable economic growth

Maintaining stability in the Islamic financial system and pursuing an inclusive growth agenda were two major themes which arose from the 10th Islamic Financial Services Board (IFSB) Summit held in Malaysia recently.

Asia a beacon of opportunity for Islamic insurers

The takaful sector in Southeast Asia remains on a strong growth trajectory, although companies face challenges especially in the areas of operational efficiency as well as developing new talent, said speakers at the 2nd Annual World Takaful...

Risk management and compliance are key issues for takaful - Deloitte

The global takaful sector faces various challenges in the areas of governance & regulatory compliance, risk management, operational excellence, product governance & strategy, as well as talent development.

Bahrain: CBB outlines Islamic finance strategy

The Central Bank of Bahrain (CBB) has outlined a four-point strategy to keep Bahrain at the forefront of Islamic finance.

ONIC Holding to invest in Takaful Oman

ONIC Holding will become one of the founding shareholders of Takaful Oman, after its decision to invest in the setting up of Oman's first Islamic insurance company.

Oman: Al Madina to go public, paves way for takaful switch

Al Madina Insurance Company is planning to float an IPO in the fourth quarter of this year, as part of plans to make its operations Shariah compliant. Under the draft takaful regulation, insurers have to be public firms to function as takaful...

Saudi Re's life insurance seminar

As part of its efforts to share best practices with its clients, Saudi Re organised a seminar on "Developing Life Insurance in KSA" which was attended by a number of executives and technical managers of insurance companies in Saudi Arabia.

Chedid Re organises workshop for Saudi insurance sector

Chedid Re Saudi Arabia held a workshop, titled "MINDS 2013 - Mission for Insurance Development in Saudi Arabia" in Beirut in early June, gathering managers from both technical and risk management departments.

Asia Capital Re celebrates Dubai branch opening

Singapore-based Asia Capital Reinsurance Group (Asia Capital Re) held a cocktail reception in late May to mark the opening of its branch in the Dubai International Financial Centre (DIFC), its second branch office after Hong Kong.

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