Two-thirds (65%) of respondents to a survey experienced a mental health issue - such as anxiety or depression - over the past year, and 57% experienced a physical ailment, including allergies and gastrointestinal disorders, according to the "GIG Well-being Report 2024".
While the nature of motor insurance business varies from one Arab country to another, especially in terms of laws and regulations, all Arab motor insurance markets face common challenges that require taking prompt measures to control losses, said speakers at a recent webinar organised by the General Arab Insurance Federation (GAIF).
Gulf Insurance Group (GIG) is expected to see its gross written premium remain broadly flat for 2024 but fall in 2025 following the revocation by the Health Ministry of a health insurance contract for retired citizens which had been awarded to the Group, according to AM Best.
Mumbai-headquartered Mahindra Insurance Brokers, part of the Mahindra Group, has announced the opening of its reinsurance office at Dubai International Financial Centre (DIFC), according to a statement posted on the DIFC website.
Reinsurers domiciled in the Middle East and North Africa (MENA) region continued to benefit from positive pricing momentum over the recent renewal periods, albeit to a lesser extent than the global reinsurance market, according to a new report from AM Best.
The fierce competition whipped up around this year's Middle East Insurance Industry Awards has resulted in a list of finalists comprising a total of 55 insurers, brokers, risk managers, service providers and industry leaders.
Gulf Insurance Group (GIG), one of the leading insurance groups in the Middle East and North Africa region, has announced the formation of a new board, which comprises the current directors representing majority shareholder, Fairfax Financial Holdings, and two newly elected independent members, who bring valuable expertise in the financial, economic and insurance sectors.
Turkiye overtook Saudi Arabia as the biggest market among 13 markets in the Middle East and North Africa, according to data published by Swiss Re Institute (SRI).
Natural catastrophes, which are increasing in terms of frequency and the size of economic losses they cause, should prompt Arab insurance markets to exert greater efforts to face this threat, said speakers at a recent seminar addressing Nat CAT threats in the region.
Bermuda-domiciled specialty insurance carrier Relm Insurance has entered the MENA region through the acquisition of B&F Partners Ltd., now known as Relm Insurance MENA Ltd.