Dusseldorf-headquartered international multiline reinsurer, Deutsche Rück Group, further expanded its business in the 2024 financial year while simultaneously strengthening its financial position, the group said in a statement released yesterday.
Specialty MGA Africa & Middle East has appointed Ms Laila El Bahtouri as treaty senior underwriter and Mr Mohamed Bader Bouananir as senior underwriter for specialty lines.
Africa Specialty Risks (ASR) has appointed Mr Trevor Oates as head of reinsurance.
The National Insurance Commission of Nigeria (NAICOM) and Nigerian Federal Fire Service have reviewed and strengthened their partnership. As per the new agreement the Federal Fire Service will integrate fire insurance policy into its checklist to boost compliance levels and promote insurance penetration in Nigeria.
The National Insurance Commission of Nigeria (NAICOM) and Malaysia insurance will collaborate in two important areas of capacity building and investment opportunities in takaful insurance.
The General Arab Insurance Federation (GAIF) has announced plans to establish an association of Arab actuaries, in line with the objectives of the federation to be supportive of the development and integration of the Arab insurance industry.
The Middle East market saw a mixture of healthy and poor performers, the latter mostly being driven by risk loss activity, an imbalance that is a concern for reinsurers, says Gallagher Re in its January 2023 "1st View Market Report" released on 1 January.
Morocco's Supervisory Authority of Insurance and Social Welfare (ACAPS) and Egypt's Financial Regulatory Authority (FRA) have signed a memorandum of understanding (MoU) with the Financial Regulatory Authority of Egypt (FRA).
The General Arab Insurance Federation (GAIF) stressed the need to accelerate digital transformation in the insurance industry to enhance efficiency and boost the sector's development, as it ended its 33rd Conference last week.
There is a need to establish an Arab insurance database that would enable Arab insurers to draw up strategic and forward-looking plans for their various activities, Mr Lasaad Zarrouk, the president of the General Arab Insurance Federation (GAIF) has said.