Over 1,000 delegates from 36 countries have registered to attend the upcoming General Arab Insurance Federation (GAIF) Conference in Egypt.
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Brokerslink, one of the world's largest independent insurance broker networks, has reorganised its previous Europe, Middle East and Africa (EMEA) trading area by splitting it into two separate regions: Europe and Middle East & Africa (MEA).
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Brokerslink, one of the world's largest independent insurance broker networks, has reorganised its previous Europe, Middle East and Africa (EMEA) trading area by splitting it into two separate regions: Europe and Middle East & Africa (MEA).
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Three insurers from North Africa - Egypt's Misr Insurance Company, Algeria's Compagnie Centrale De Reassurance and Tunisia's Tunis Re - are in the nine-member steering committee of the African Oil and Energy Insurance Pool.
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A total of 31 companies from the insurance sector are featured among the "Top 500 Companies in the Arab World 2014" ranking released by Forbes Middle East.
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Mapfre Asistencia has introduced a new structure in the Middle East designed to build a closer relationship with its partners and markets. The new structure includes a direct presence, through central commercial offices in the UAE and a network of commercial branches in several Middle East countries.
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MetLife Alico is rebranding to MetLife across its operations in the Gulf, four years after it acquired Alico in 2010. It said that the rebranding will not result in any change to services, policies or commitments made to customers and business partners.
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The Middle East Business Aviation Association (MEBAA) has extended its Middle East business aviation insurance scheme (MAIS), originally designed exclusively for operators, to include competitive coverage for maintenance, repairs and overhaul (MRO), pilots, ground handlers, refuellers, fuel sales agents and other stakeholders in business aviation.
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The Algerian national reinsurer, Compagnie Centrale de Reassurance (CCR), has recorded a turnover of DZD20.3 billion (US$255.5 million) in 2013, an increase of 23.3% over DZD16.4 billion in 2012.
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Algeria's first private-sector insurer, Macir Life, has become a member, sponsor and exclusive insurer of the Circle of Commerce and the Algerian-Spanish industry (CCIAE).
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Government spending on social safety nets in Bahrain is equivalent to 1.45% of GDP, the highest among 13 Arab countries and territories, according to a report released by the World Bank.
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Total premiums in Egypt rose by 11% to EGP10.1 billion (US$1.4 billion) for the nine months from 1 July 2013 to 31 March 2014, compared to EGP9.1 billion for the same period a year ago.
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The Egyptian Financial Supervisory Authority (EFSA) has approved, for the first time, life insurance policies for police officers. Each policy is worth EGP100,000 (US$13,973) in case an officer is killed on duty, and EGP50,000 if he dies from natural causes before reaching retirement.
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Jordan-based broker Apex Insurance is considering setting up in the Dubai International Financial Centre (DIFC) and opening a branch in Africa, Mr Zuhair Al Atout, CEO of Apex Insurance, told Middle East Insurance Review in an exclusive interview.
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AXA Middle East and Visa have signed an MoU to issue the first insurance credit card in the Levant, following months of field studies and a one-year trial.
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Bahrain-headquartered Trust International Insurance and Reinsurance Company (Trust Re) has received approval from the Casablanca Finance City Authority (CFCA) to set up a presence in the Casablanca Finance City (CFC).
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Saham Finances, a unit of Morocco-based investment firm Saham Group, has bought a 66% controlling stake in Corar-AG, the third-largest insurance provider in the Rwandan market, for an undisclosed sum.
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Private insurers have been given a one-year grace period to comply with the law banning them from providing basic healthcare insurance, following the launch of the national health insurance scheme, Seha.
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The insurance regulator in Tunisia, the General Insurance Committee, is currently working on developing a five-year programme for 2015-2019 which will set out the priorities for the insurance sector, according to the head of the agency.
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Morocco's state-owned reinsurer Société Centrale de Réassurance (SCR) is planning to have an operational branch in the Dubai International Financial Centre (DIFC) by the end of this year, revealed CEO Mohamed Larbi Nali. "Our preparations are in the final stages as we fortify our presence in the Arab region," he told Middle East Insurance Review in an interview.
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Green Crescent Insurance is to double its capital to AED200 million (US$54.5 million) by selling convertible bonds to AXA Group and Kanoo Group, the company said in a statement filed with the Abu Dhabi Securities Exchange.
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Road safety is a major concern for around two thirds of people in the UAE, a YouGov survey has shown.
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Abu Dhabi National Insurance Company (ADNIC) has expanded its colour-coded fleet motor products following the launch of similar products for individual consumers in March.
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Zurich has signed an exclusive five-year agreement with Sharjah-headquartered United Arab Bank (UAB) to market and distribute its general insurance products in the UAE. For a start, UAB is offering Zurich's motor, home, life and travel insurance cover, with further specialist insurance propositions, including personal accident, to follow shortly.
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Eighty percent of UAE drivers polled by comparison website Souqalmal.com said they prefer to buy their car insurance online.
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The Dubai International Financial Centre (DIFC) is gaining ground as an insurance hub as it continues to attract global players to set up their operations in the Centre.
By Cynthia Ang
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