The Middle East faced its driest winter in decades, prompting authorities to prepare to officially declare states of drought that are spreading beyond the Eastern Middle East to Morocco and as far south as Yemen, reported Reuters.
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More companies in the GCC are expecting to hire staff this year compared to last year, with Qatar leading the pack. At the same time, private-sector salaries in the region will rise at a faster pace compared to 2013 for most of the countries, said a recent study.
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Zurich International Life MEA has launched a proposition called Zurich Business Protect, designed to protect small and medium sized enterprises (SMEs) in the Middle East.
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AIG has unveiled a new structure for the Europe, Middle East and Africa (EMEA) region, streamlining its operating framework from 47 countries to eight zones - MENA, Africa, Central, East, South, North, UK and West - with headquarters consolidated in London.
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Trust Re and Willis have successfully implemented a full e-Accounting process between the two companies, using ACORD data messages and standards.
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Catlin Group has formed a General Aviation Consortium at Lloyd's Asia to write general aviation insurance and reinsurance risks based in the Middle East and Asia-Pacific regions.
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A proposal for Bahrain National Holding Group (BNH) to acquire a majority stake in Al Ahlia Insurance has not been finalised, six months after news surfaced of the likely purchase.
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Gulf Insurance Group posted net profits of KWD10.2 million (US$36.2 million) in 2013, an increase of around 10% compared to the KWD9.27 million reported in 2012.
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Kuwait Insurance Company posted KWD4.2 million (US$15 million) in net profits for 2013 compared with KWD3.9 million for 2012, an increase of 7.9%.
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Chedid Re has teamed up with PartnerRe Wholesale, a new business unit of global reinsurer PartnerRe, to provide capacity to a management general agency (MGA) to underwrite a range of financial lines insurance business.
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Two leading Moroccan insurance companies are entering Cameroon, the second-largest insurance market in the Inter-African Conference for the Insurance Market (CIMA) grouping of 14 markets.
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Oman's regulators have set up a financial stability committee to monitor and manage risks in the banking and capital markets, the country's finance ministry has announced.
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AIG and Bank Muscat have entered into a 10-year bancassurance agreement which will see AIG become the exclusive provider of non-life insurance products to the bank's customers in Oman.
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The Dubai Health Authority (DHA) has approved health insurance permits for 43 insurers, allowing them to provide health insurance cover in the emirate.
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The insurance sector in Abu Dhabi saw earnings grow 62.4% y-o-y in 2013, the highest amongst all the sectors in the emirate, a study by Global Investment House has shown.
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The UAE Insurance Authority (IA) has signed a Memorandum of Understanding (MoU) to boost cooperation with the Asia Competitiveness Institute (ACI), a research centre at the Lee Kuan Yew School of Public Policy at the National University of Singapore.
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First Gulf Bank (FGB), one of the UAE's leading banks, has launched its new "Insta" product range from its bancassurance department. The products, developed jointly with MetLife Alico, can be issued without any medical tests.
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