Editor's Message

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  Editor's Message

  What a hard year 2019 has been. There was little joy in business with the whirling problems from natural disasters, climate crisis and cyber threats, to domestic political strives, international trade spats, warmongering, nuclear and terrorist...

Special Report

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  Saudi Arabia: Bumpy road to profitability

  With waning profits in the Saudi Arabia insurance market, will the slew of regulatory reforms of the past year help the market achieve full-year profitability?

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Interview

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  Improving resilience in North Africa

  A big part of North Africa’s economy is powered by the informal sector, which is underserved by financial services. This is the segment that the insurance industry should target to close the protection gap, says Swiss Re head of North Africa...

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• Trust Re here to stay

  Middle East Insurance Review met up with Trust Re CEO Talal Al Zain to find out how he plans to rebuild the company.

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• Emerging markets offer new dawn for specialist brokers

  Small reinsurance brokers are finding a niche in emerging markets as more customers are prioritising value over price, says New Dawn Risk head of treaty production Dermot Dick.

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Cover Story

Awards Special

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  6th Middle East Insurance Industry Awards honour 16 industry stalwarts

  This year’s edition of the awards saw a strong focus on customer-centricity and technology in most entries as the industry responds to changing consumer habits.

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Country Profile

Kuwait

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  Getting a leg up

  The long overdue new insurance law is expected to fix the sector’s problems and help put insurers on a sustainable path to growth.

• Lack of regulatory drive restricts Kuwait insurance market's development

  The insurance regulatory environment in the country is among the weakest globally with limited supervision. While the market shows the potential for further growth and sophistication, it is unlikely to progress without appropriate intervention by...

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Feature

Employee Benefits

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  Realigning workplace culture with employee well-being and success

  Employers who address stress in the workplace through better benefits and company practices are gaining a competitive edge in retaining and attracting talent, says Mr Andrew Stocker of MetLife Gulf.

• Better employee perks on the horizon

  The existing gratuity regime in the UAE – and wider GCC region – is ripe for change, particularly when viewed through the prism of changing demographics, international best practice and global trends. Mr Anirban Chatterji of PwC Middle...

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SMEs

• Improving the health and well-being of SMEs in the GCC

  As the SME sector in the GCC is set to grow exponentially by 2022, so too is the demand for quality health insurance that covers the holistic health and wellness needs of employees, says Mr Jerome Droesch of Cigna.

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Insights

Reinsurance

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  Market exits and the repercussions

  The recent exits from the reinsurance market in the Middle East have serious repercussions on new entrants, says Mr Sameer Yogishwar of HDFC International Life and Re Company.

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Marine

• Troubled waters

  Messrs Luke Garrett of HFW and Vyankatesh Tak of Oman Insurance Company provide a critical insight into the marine insurance landscape, which is witnessing its toughest phase in the last decade.

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InsurTech

• From innovation to progress

  Technological advancements alone should not be equated to progress. Partnerships, capacity building and close dialogue between regulators and supervisors, policymakers and the industry will create a deeper impact in the sector and raise the bar to...

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Conference Report

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  Egypt: Efforts afoot to plug the protection gap

  Bridging the protection gap is gaining more importance, and insurers are cooperating with regulators to find the best means to address this issue, said speakers at the 2nd Sharm Rendezvous in Egypt in November.

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News

MENA

• Middle East: GAIF aims to raise technical standards

  The General Arab Insurance Federation (GAIF) is working on improving technical standards among its members, according to Mr Chakib Abouzaid, the secretary general of the organisation.

• GCC: Infrastructure funding needs estimated at $1.6tn till 2023

  The cumulative investment required in infrastructure development in the Gulf from 2019-2023 is about $1tn, excluding large mega projects, said a report by global management consulting firm Oliver Wyman.

• GCC: SAMA and DFSA to strengthen mutual cooperation in the supervision of insurance

  The Saudi Arabian Monetary Authority (SAMA) and Dubai Financial Services Authority (DFSA) have signed an MoU to strengthen mutual cooperation in the supervision of insurance and banking.

Events

• UAE: Charles Taylor InsureTech celebrates launch of DIFC office

  Charles Taylor InsureTech held a reception at the DIFC Capital Club in October to celebrate the group’s new operations at the DIFC.

Diary

• Events

People on the move

• People on the move

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