Arabian Gulf pension fund assets are expected to double from US$2.4 trillion to $5 trillion by 2020, said a report by PwC.
Buy Now
Although insurance rates across Europe, the Middle East and Africa (EMEA) remained largely stable throughout the first three quarters of 2013, rate reductions across most lines of business in the last quarter and for 1 January renewals marked a downward pricing trend that is expected to continue in 2014, said Marsh.
Buy Now
The Middle East accounted for around a 28% share of all terrorist attacks recorded worldwide last year, according to Aon Risk Solutions.
Buy Now
Arig Group posted a 5.7% y-o-y growth in net profit to US$18.6 million in 2013, thanks to favourable loss experience.
Buy Now
Bahrain Kuwait Insurance Company (BKIC) achieved a net profit of BHD3.7 million (US$9.8 million) in 2013, down 11.9% y-o-y, as a result of increased losses due to the high rate of motor accidents. Fire and general accidents also recorded a few large losses.
Buy Now
A new Social Security Law governing pensions and retirement is awaiting King Abdullah's ratification under a Royal Decree after it was endorsed by both Houses of Parliament, said media reports.
Buy Now
AXA has signed an agreement with Fondep-Microcredit, a local microfinance institution (MFI) to form a partnership to market microinsurance products in Morocco.
Buy Now
Arab Misr Insurance Group (gig) has launched what is believed to be Egypt's first insurance product for inbound tourists.
Buy Now
Qatar Insurance Company (QIC) has reached an agreement to acquire the entire share capital of Antares Holdings, a specialist insurer and reinsurer operating in the Lloyd's market.
Buy Now
Qatar General Insurance and Reinsurance Company (QGIRC) has announced an increase in net profit of more than 10 times to QAR2.1 billion (US$580 million) for the financial year ended 31 December 2013.
Buy Now
Q-Re said it expects to write approximately US$269 million of property, casualty and speciality lines premiums from the 1 January renewals.
Buy Now
A total of 30,780 women have been treated under the National Health Insurance Scheme (NHIS) since its launch last July.
Buy Now
Doha Insurance has reported a 10% growth in gross premiums to QAR516.7 million (US$141.9 million) and a 12% y-o-y increase in net profit to QAR67.0 million in 2013, buoyed by investment returns.
Buy Now
The conflict in Syria is costing the economy US$109 million in GDP per day and eight years in development per year, said a UN report.
Buy Now
Tunis Re's GWP grew to over TND82.4 million (US$51.9 million) in 2013 compared to TND77 million in the previous year, a 7% increase, according to results published on the company's website.
Buy Now
Lloyd's is set to open an office in Dubai, with plans to move into the Dubai International Financial Centre (DIFC) and be operational within the next 12 months.
Buy Now
Dubai's compulsory health insurance system has been named ISAHD - Insurance System for Advancing Healthcare in Dubai - which means "happiness" in Arabic.
Buy Now
Dubai-headquartered Oman Insurance Company (OIC) has reported a gross written premium of AED2.9 billion (US$789.5 million) for the financial year 2013, up 19.5% over the previous year.
Buy Now
The Insurance Authority (IA) has revoked the licences of two insurance brokers and suspended one for violating regulations.
Buy Now
Orient Insurance's profit grew by 9.3% y-o-y to AED240 million (US$65.3 million) in 2013, thanks to a strong growth in investment income from AED82.1 million in 2012 to AED102.9 million last year.
Buy Now
Emirates Insurance Company (EIC) saw gross premiums increase by 11.8% y-o-y to AED721 million (US$196.3 million) in 2013.
Buy Now
The National Health Insurance Company - Daman has opened its first branch in Sharjah to better provide services to residents in the Northern Emirates.
Buy Now
The Dubai International Financial Centre (DIFC), which last year grew at the fastest pace since the 2008 global financial crisis, is set to expand its size and scope.
Buy Now