Enterprise risk management (ERM) is becoming more important, especially with insurance companies' expenditures increasing and investment returns dropping, said Mr Fareed Lutfi, Secretary General of the Emirates Insurance Association (EIA) at a recent seminar in Dubai.
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Seven of the world's top 20 countries with prevalence of diabetes are in the MENA region with the Gulf states leading in the statistics, according to a new research report released in conjunction with World Diabetes Day.
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Global asset managers and international life companies seeking to do business in the Arabian Gulf need to be present and visible in the region to be successful, according to a new research study.
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Wealth growth in the GCC has outpaced the global trend since 2000 as the aggregate wealth per adult in the region has grown by 236% against 125% for the world, according to the latest Global Wealth Report by the Credit Suisse Research Institute.
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Premiums from the maritime and air transport lines in Algeria have shown a downward trend in recent years, according to an executive of the Central Reinsurance Company (CCR).
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AXA Assurance Algeria is targeting to obtain premiums of DZD4 billion (US$46.8 million) this year, or double the figure last year, based on projected growth in the SME market.
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The Egyptian Financial Supervisory Authority (EFSA) has said that new rules governing reinsurance will take effect from 1 January 2015.
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A new reinsurance company will be launched in Egypt in February 2015, said Dr Mohammed Yusuf, Chairman of Egypt's Insurance Holding Company. Its establishment follows feasibility and marketing studies.
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The Ministry of Industry, Trade and Supply (MITS) has opened up the market for insurance for domestic helpers, by cancelling the exclusivity granted to one insurance company.
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Premiums in the Jordanian market increased by 6.8% to US$348.6 million for the eight months to August this year, compared to $326.5 million for the corresponding period of 2013, announced the Ministry of Industry, Trade & Supply.
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The profits of Lebanese insurance companies are expected to fall by at least 20% for this year, due to the rising number of car accidents and fierce competition, said the head of the Lebanese Insurance Association, Mr Assaad Mirza.
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Beirut-headquartered regional reinsurance broker Chedid Capital and Mauritian conglomerate GML have entered into an agreement to form a 50%-50% joint venture that aims to play a major role in the insurance brokerage sector across East Africa and the Indian Ocean.
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The Insurance Authority (IA) of the UAE will provide insurers with sufficient time to amend their conditions following the issue of new financial instructions, said Mr Maher I Afaneh, Financial Expert Assistant at the 11th Gulf Insurance Forum in Dubai.
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The first phase of the Dubai International Financial Centre (DIFC) project to set up a reinsurance association has been completed, and plans are for this to be in place early in the new year, said Mr Mark Cooper, Director, Insurance, Reinsurance & Captives, DIFC Authority, at a recent industry event.
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New York-headquartered Transatlantic Reinsurance (Trans Re) has received the green light to operate in the Dubai International Financial Centre (DIFC) and has appointed Mr Chokri Chakroun as Senior Executive Officer of the branch.
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More than one-third of UAE employees feel distracted at work due to financial worries; with costs associated with illness and the need for appropriate health coverage topping the list of concerns, according to MetLife's first UAE Employee Benefit Trends Study.
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The Dubai Health Authority (DHA) has announced a price regulation model for health services in the private sector that will be applied from 2015, imposing a cap of 4.22% on price increases for healthcare services in the emirate.
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A group of licensed advisers in the UAE are working to form an association, aiming to represent the interests of licensed firms.
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Abu Dhabi National Insurance Company (ADNIC) has launched a mobile app for its consumer insurance solutions, starting first with motor and medical insurance services.
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