Most insurers rated by A.M. Best that are domiciled in the Middle East are adequately capitalised and well-positioned to absorb the impact that lower oil prices will have on the insurance sector, including lower-than-expected growth in premiums and greater fluctuations in asset prices over the short term, said the rating agency in a recent report.
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GCC motorists who do not "read the small print" on their motor insurance contracts to ensure they have sufficient coverage levels for their needs or risk serious financial consequences, said Nexus Group, a leading insurance broker in the region.
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QBE is now offering trade credit insurance through its Dubai branch to companies based in the MENA region.
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The Union of Algerian Insurers and Reinsurers (UAR) has launched a study into motor insurance premium rates, said Mr Hassen Khelifati, CEO of Alliance Assurances in a news report.
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Mr Alaa El Zoheiry, Chairman of the General Arab Insurance Federation (GAIF) and Managing Director of Arab Misr Insurance Group (gig), has been named the Insurance Personality of the year title for 2014 in Egypt in a survey conducted by local magazine Amwal Al Ghad.
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Pharaonic American Life Insurance Company - MetLife Alico and ALEXBANK have entered into a partnership to provide bancassurance solutions to 1.6 million customers, across the bank's network of 170 branches across the country.
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The Jordan Insurance Federation (JOIF) has criticised the Ministry of Industry, Trade & Supply for its decision to oblige insurance companies to cover motor damages caused by the snowstorm which hit the country at the beginning of January.
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Eighty-seven per cent of Jordanians support early retirement, a recent opinion poll by the Social Security Corporation (SSC) has shown.
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The government needs over US$103 million to repair roads destroyed by the heavy storms that battered southern Morocco last November, said the Minister of Equipment, Transport and Logistics, Mr Aziz Rebbah.
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Two leading investment holding firms, Oman National Investment Corporation (ONIC) and Oman International Development and Investment Co (OMINVEST), have entered into a memorandum of understanding (MoU) to explore a merger possibility.
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Qatar's traffic administration has linked up with all auto insurance companies through a unified system, allowing vehicles damaged in traffic accidents to be assigned automatically to an auto repair garage.
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Qatar Insurance Company (QIC) has established a fully-owned Malta-based EU subsidiary, QIC Europe Limited (QEL), through which it aims to enhance its property & casualty and specialty insurance cover in EU and non-EU European jurisdictions, reported Gulf Times.
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Natural catastrophes, business interruption and supply chain, and fire/explosion were named as the top risks facing Turkish businesses, according to the fourth annual Allianz Risk Barometer. This is the first time that the Risk Barometer shows the top 10 risks in Turkey.
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Premiums in the UAE insurance market have hit AED33 billion (US$9 billion) last year, compared to AED29.5 billion in 2013, a growth of around 12%, according to preliminary estimates of the Insurance Authority (IA).
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Insurance ranks well behind other business sectors in popularity among UAE business students looking for a job, according to the newly released Deloitte Middle East Talent in Insurance Survey.
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Bermuda-based Ironshore International has acquired Lloyd's coverholder Visionary Underwriting Agency, effectively completed in December 2014, as it looks to expand its business in Asia and Africa.
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MetLife and Emirates Money Consumer Finance, a subsidiary of the leading banking group Emirates NBD, have entered into a preferred partnership agreement. The partnership is expected to cater to the growing need for simple and affordable insurance solutions in the UAE.
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