Judges have begun the first round of judging the over-200 entries submitted for the first Middle East Insurance Industry Awards (MIIA), organised by Middle East Insurance Review (MEIR).
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Specialist insurers Talbot Underwriting (MENA) and Markel International are looking to join the upcoming Lloyd's Middle East platform in the Dubai International Financial Centre (DIFC), senior executives told Middle East Insurance Review.
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The insurance sector in Algeria had an encouraging start to the year, with turnover increasing by 7.2% to US$33.7 billion from January to March, according to data from the National Council of Insurance.
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Gross premiums and contributions in Bahrain increased by around 8% over 2012 to BHD258.41 million (US$685.4 million) in 2013.
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Arig's gross premium income during the first six months of 2014 grew by 5.6% y-o-y to US$236.8 million, helped by increased premium from its engagement in overseas markets and the parent company's specialty and life business.
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Bahrain Kuwait Insurance Co's (BKIC's) net profit for the first half of 2014 increased by 30% to BHD2.6 million (US$6.9 million) from BHD2 million last year, although gross premiums rose 11.6% to BHD21.2 million.
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Bahrain National Holding (BNH) reported a group net profit of BHD2.34 million (US$6.2 million) for the first half of 2014, up 23.2% y-o-y.
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Egypt's largest insurer, the state-owned Misr General Insurance Co (Misr), has achieved EGP505 million (US$70.6 million) in inward premiums from overseas in the financial year ended 30 June 2013, and this is expected to grow to EGP570 million this year.
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The government of Iran is implementing an inclusive programme extending medical insurance to all Iranians.
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Three (re)insurance companies from Morocco, France and Bermuda have joined forces to establish a reinsurance company to cover agricultural risks in Morocco and Africa.
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Total premiums in Palestine increased by 10% last year to US$158.7 million, according to data published by the Palestine Insurance Federation.
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Qatar Insurance Co (QIC) recorded a net profit of QAR635 million (US$174.4) million in the first half of 2014, an increase of 53% over the first six months of last year. Investment and other income stood at QAR591 million, up 62% on the same period last year.
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Loss adjuster Crawford & Company is expanding its presence in the Middle East with the opening of a new office in Qatar.
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International General Insurance Holdings (IGIH) has recorded net earnings of US$18.50 million for the first six months of 2014, a 13% decline from $21.32 million in the same period in 2013.
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AXA Insurance has teamed up with UAE telco Etisalat to offer insurance cover for smartphones, offering protection against accidental damage and theft within and outside the UAE.
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Oman Insurance Co (OIC) reported a net profit of AED127.2 million (US$34.6 million) for the first half of this year, up from the AED94.3 million made during the first half of 2013. Gross premiums increased by 14.4% y-o-y to AED1,815.2 million during the same period.
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The National Health Insurance Company - Daman will be providing health insurance cover to engineering contracting firm GINCO's employees via its Essential Benefits Plan (EBP), the basic package under Dubai's mandatory insurance scheme for workers earning AED4,000 (US$1,089) or less a month.
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