Saudi Arabia World Cup 2034
Oman
Regulatory enhancements help boost non-life growth
Establishing (re)insurance catastrophe pools in Oman
Plenty of room for growth in Oman life and health
Oman's Financial Services Authority steps up
Oman general insurance holds steady despite challenges
Dhamani, credit life policies and Oman life and health
Oman retakaful and health insurance take off
General
Cyber threats spare no sector in the Middle East
Collaborating to boost cyber insurance in MENA
Appetite for cyber insurance in MENA continues to grow
Insurance aggregators and bancassurance in the UAE
How (re)insurers deal with weight-loss drugs
Global Nat CAT, reinsurance pricing and MENA
Role of LLMs in the Saudi insurance and InsurTech sector
Saudi Arabia's ambitious health insurance goal
Insurance brokers: From intermediaries to partners
Demand for values-based financial solutions drive takaful
How MENA can insure renewable energy sector
Communication with insurers required for clear regulatory vision
Alternative risk transfer and sovereign insurance in MENA
View from India - Foreign investment in Indian insurance
MENA
Algeria: Insurance market increases by 5% in 3Q2024
Algeria: Insurers to play a fundamental role in the stock market
Bahrain: SIO to increase employer social insurance contributions
Bahrain: Solidarity-BNH acquisition deal sealed
Egypt: Medical costs projected to surge by over 30% in 2025
Egypt: GWP up by 26% in first ten months of 2024
Jordan: Central Bank of Jordan rejects motor premium increase
Morocco: Regulator studies launching compulsory home insurance
Oman: Integration of health organisations with the Dhamani platform making steady progress
Qatar: Doha insurance set to launch India reinsurance branch
Saudi Arabia: PIF announces completion of acquisition of 23.08% stake in Saudi Re
UAE: Insurance premiums set to rise in January
UAE: Market reaches almost $14bn in first three quarters of 2024
UAE: Watania Takaful partners with Aura to offer health coverage to SMEs
Global
Global: Reinsurers show greater flexibility
Global: New cycle ushers in price reductions, renewed focus on innovation
Global: 2024 Nat CAT losses dominated by flood
US: Los Angeles fires insured losses could top $30bn
Takaful
Malaysia to support development of takaful in Nigeria
Malaysia: Shariah-compliant finance company to offer motor takaful protection
Singapore: Etiqa offers first takaful product in over a decade
UAE: Watania Family Takaful caters for SMEs
Product bites
People on the move
MARKET PROFILE - Oman
INSURANCE - General
With adversarial AI predicted to boost success rates of cyber criminals in the future, QBE’s Ms Sarah Hamlat said it has become clear that insureds welcome additional risk management services alongside insurance policies. Such tools and risk...
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SAUDI ARABIA
The insurance industry in Saudi Arabia is undergoing a significant transformation, driven by advances in technology. As the sector seeks to enhance operational efficiency, improve customer experiences and innovate product offerings, understanding...
The World Cup, once viewed as the ultimate sporting event in the football calendar, is now viewed by some host countries as a bit of a poisoned chalice.
Economic recovery, consumer activity, continued digitalisation, awareness of Nat CAT risk and regulatory enhancements by the Financial Services Authority were growth drivers of the non-life insurance industry over the past year.
The sultanate’s sole local reinsurer continues to invest in the local market through participating in important initiatives such as the Nat CAT pool and introducing new services to meet market needs and serve all segments. Oman Reinsurance...
Liva Insurance’s Ms Hanaa Al Hinai talks us through some of the most promising growth opportunities for life and health players in the sultanate – as well as some of the potholes in the road to development.
The Middle East sees a surge in cyber insurance uptake as digital transformation and escalating cyber threats drive businesses and governments to prioritise cyber security. Competitive market dynamics and growing awareness of cyber risks fuel the...
A combination of improved cyber hygiene and a more stable underwriting environment puts the Middle East cyber market in a strong position to provide opportunities to sectors and regions that would previously have been prohibited from obtaining cyber...
Insurers are no doubt closely monitoring the evolving landscape of development and the usage of weight-loss drugs. Despite the current high costs and unknown long-term unknown factors, they can be a valuable tool in tackling the projected increase...
The year got off to a schizophrenic start with the White House announcing that it was withdrawing from the Paris climate accord within days of the news emerging that 2024 proved to be a tipping point that saw planet Earth reach 1.5C above...
Saudi Arabia’s target of providing health coverage to 25m people by 2030 is ambitious one, it is within reach, as the nation has initiated major regulatory reforms and adopted advanced technologies.
The resilience of the insurance industry notwithstanding, recent years have been filled with both challenges and opportunities that are altering how brokers operate. ACE Gallagher’s Ms Yolla El Khoury shares her views on the critical role of...
In Singapore, demand for takaful is driven by the growing Muslim population, rising disposable income and improving financial literacy. Additionally, more than half of Singaporean investors believe in sustainable investing. We spoke with Etiqa...
Renewable energy projects are witnessing rapid growth in the region due to their importance in diversifying sources of energy and finding environment-friendly alternatives. A recent conference in Dubai looked at the part insurers might play.
Enhanced communication between the regulator and insurers is required for the industry to forge a clear regulatory vision, speakers said at the CEO insurance breakfast in Dubai last November.
Moving from a reactive to proactive mode in disaster management has become an imperative in the MENA region. The Centre for Disaster Protection’s Ms Cristina Stefan offers insights into how alternative risk transfer solutions, sovereign...
The insurance sector in Algeria achieved a high turnover in the first nine months of 2024, with international acceptances and takaful showing huge growth.
The Ministry of Finance is currently studying the new draft law on the financial market, which will replace 1993 stock exchange legislative decree.
The Social Insurance Organisation (SIO) announced a 1% increase in employer contributions to mandatory social insurance, effective January 2025. According to a circular sent to the owners of companies, the total employer contribution will rise to...