Trust Re has received an 'A-' rating from Standard & Poor's, it revealed at its 25th anniversary dinner party in Bahrain where it also announced key developments, including plans to raise capital and set up offices in China and India.
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The General Arab Insurance Federation (GAIF) is expecting to receive a proposal to create an Arab insurance firm with a capital of US$10 billion, said the newly appointed President of regional industry body, Mr Alaa El Zoheiry.
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The International Monetary Fund (IMF) has lowered its economic growth forecasts for most Arab countries over unrest in the region but predicted strong growth in the oil-rich Gulf states.
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Countries in the MENA region can do more as a whole to address the threats from climate change, said the American Security Project (ASP), a Washington-based non-profit public policy and research organisation.
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ACE Group has launched Image Protect, a new insurance product designed to help companies across the MENA region effectively manage their reputational risks.
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The insurance industry in Algeria grew by 5.2% during the first half of 2014, achieving a turnover of DZD73.1 billion (US$877.4 million) against DZD69.4 billion during the same period of 2013, the National Insurance Council said.
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The National Union of Agronomists (UNA) has sounded the alarm over the small number of farmers insured against natural disasters and stressed the urgency of enacting a law mandating agriculture insurance.
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The Jordanian insurance sector achieved an increase of 50% in technical profits to JOD17.8 million (US$25.1 million) for the six months this year over the same period the previous year.
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Total direct premiums in Kuwait's insurance market in the first half of 2014 amounted to KWD152.6 million (US$529 million), an increase of 8% from the corresponding period last year, according to data from the Ministry of Trade and Industry.
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Insurance premiums in Lebanon totalled US$804.5 million for the first half of 2014, up 9% from a year ago, according to the Association of Insurance Companies in Lebanon (ACAL).
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Moroccan insurance company Saham has announced a net profit of MAD152 million (US$17.4 million) for the first half of this year, an increase of 45.6% compared to the same period in 2013.
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Morocc-basd Credit Immobilier et Hotelier (CIH) Bank has received the green light from its board of directors to acquire a 10% stake in Atlanta Insurance and Reinsurance Company, a subsidiary of the Holmarcom group.
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Wafa Assurance has received approval from the Inter-African Conference on Insurance Markets (CIMA), a supervisory body for the insurance sectors of 14 countries in Francophone Africa, to set up two subsidiaries in Senegal to operate life and non-life business.
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Casablanca-headquarered Banque Centrale Populaire (BCP) will soon launch a new insurance subsidiary to be called Attaamine Chaabi, said CEO Mohamed Benchaaboun.
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The Capital Market Authority's (CMA's) new regulations requiring Omani insurers to be listed on the Muscat Securities Market (MSM) and maintain capital of at least OMR10 million (US$26 million) will strengthen the domestic insurance industry, said Moody's Investors Service.
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Turkey reported a 6% increase in premiums to TRY17.1 billion (US$7.5 billion) for the first eight months of this year compared to the corresponding period last year.
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Aviva and its Turkish partner Sabanci Holding are assessing a possible initial public offering (IPO) of a minority stake in their life and pension joint venture, AvivaSA.
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The Turkish Catastrophe Insurance Pool has a penetration rate of 37%, with 6.6 million issued policies, according to the Turkish Insurance Association.
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The Turkish government is preparing legislation to tighten regulations governing construction amid growing safety issues in the sector.
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Dubai is aiming to have the number one health insurance system in the world, in a new strategy mapped by the Dubai Health Authority (DHA).
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The Dubai Multi Commodities Centre (DMCC), in conjunction with Insure Direct (Brokers) LLC and National Health Insurance Company - Daman, has launched an exclusive health insurance solution for all of DMCC's Free Zone member companies.
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French insurer AXA is looking at several business possibilities, including health and general liability insurance, even as it deepens its exposure covering risk in big-ticket construction and real estate projects.
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Abu Dhabi National Insurance Company (ADNIC) has opened its latest branch in Mussafah, Abu Dhabi to provide a full range of services to customers in the area. This branch is now the sixth in ADNIC's UAE network, along with nine sales and service centres across the country.
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