Magazine

Jun 2017

Read the latest edition of AIR and MEIR as an Interactive e-book

From return to sanity to testing times

FEATURE - July renewals

Though the January renewals saw the return of sanity and focus on profitability, the July renewal will see partnerships tested. Mr Mahomed Akoob of Hannover ReTakaful says business is challenging, and challenging is good!
 

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All risks considered

COVER STORY - Construction & Engineering

Construction and engineering insurers in the Middle East have learned to live with the infrastructure slowdown following the oil prices crash and now increasingly seek to differentiate their products and broaden their scope to retain market share....

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Disruption of insurance? Don't get carried away

THE LAST PAGE

Dr Kai-Uwe Schanz of Dr. Schanz, Alms & Company cautions against the disruption debate raging across the global insurance landscape taking on a life of its own, and says it’s time to pause and recap a few facts.


All Stories

Cover Story

Construction & Engineering

  • Magazine article aboutAll-risks-considered

    All risks considered

    Construction and engineering insurers in the Middle East have learned to live with the infrastructure slowdown following the oil prices crash and now increasingly seek to differentiate their products and broaden their scope to retain market share....

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  • Time for a mandatory decennial

    There are not many takers for decennial liability insurance despite the UAE Civil Code stipulating that contractors are liable to compensate the employer for 10 years from the date of delivery, if the building suffers any collapse, or there is a...

  • The boom, bust and innovation

    New products such as surety insurance – guarantees for contracts and other financial obligations – are set to grow with construction companies in the Middle East staring at major debt obligations accentuated by delays in government...

Interviews

  • Magazine article aboutZurich-Zeroing-in-on-opportunities

    Zurich: Zeroing in on opportunities

    Zurich Insurance Company, operating from the DIFC, adopts an agile business model and continues to develop in the region. It is committed to MENA and will look at ways to better balance its portfolio and explore cross border opportunities, says Mr...

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  • RSA: In good shape to realise ambition

    RSA prides itself on always being forward-looking and is confident that the market will reward it with profitable growth in 2017. Mr Chris Dooley, Chief Executive Officer – UAE & Managing Director – Bahrain, says his goal is to...

  • Tunis Re: In step with partners

    Growing protectionism and stringent rating requirements are keeping regional reinsurers on a tight leash. But there are exceptions. With a prudent underwriting strategy, high technical capacities and perfect partners, Tunis Re manages to sustain...

Life & Health

Regulations

  • Magazine article aboutPaving-ways-for-a-level-playing-field

    Paving ways for a level playing field

    Excessive commissions and upfront fees charged to customers while selling life and savings products are going to be history if the UAE Insurance Authority has its way. Mr Anand Singh of Kennedys reviews the draft regulations and examines if a level...

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Country Profile

Egypt

  • Magazine article aboutTime-to-build-force

    Time to build force

    The insurance market has made efforts to deal with the profound economic reforms in the country over the past couple of years, including currency float. While growing the business, the industry has made steady strides to modernize online...

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  • Takaful in Egypt: In need of a differentiating element

    The first takaful company in Egypt started operations in 2003 and the market has grown in number of players and size of contributions. Mr Omar Gouda of Africa Retakaful says takaful operators have a long way to go and should seriously think of the...

Insights

Bancassurance

  • Magazine article aboutFor-the-sake-of-investors

    For the sake of investors

    The UAE Central Bank’s new directive will have a direct impact on the bancassurance business and hit the revenues of banks and life insurance companies in the short term.

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News

MENA

  • MENAP: Faster growth next year

    Economic growth in the Middle East, North Africa, Afghanistan and Pakistan (MENAP) region is expected to remain at 2.6% for 2017, rising to 3.4% in 2018, compared to expected global growth of 3.5% and 3.6%, respectively. Higher commodity prices and...

  • Algeria: Premiums grew 2.4% to $1.2 bln in 2016

    Premiums of the Algerian insurance market grew 2.4% om 2016 to DZD133.9 billion (US$1.2 billion) [including international acceptances], compared to the previous year, said Mr Abdelhakim Benbouabdellah, Secretary of the National Insurance Council and...

  • Bahrain: Insurance sees return on equity of 5% for 2016-18

    The return on equity in the Bahraini P&C insurance industry is estimated to average about 5% annually in the 2016-18 period, nearly unchanged from 2015, but down from an annual average of 7.4% of the 2011-15 period, according to S&P Global...

People on the move

Diary

Conference Reports

Saudi Insurance Symposium

World Takaful Conference

  • Where's the profit?

    The takaful industry in the Middle East is under significant pressure on the overall profitability despite impressive topline growth for general takaful operators. Speakers at the 12th World Takaful Conference deliberated the vexed issues and...

Takaful Feature

  • Magazine article aboutLooking-inward-for-innovation

    Looking inward for innovation

    While the seed of takaful was right, the tree has not grown organically. An inside-out innovation can transform it into a true takaful tree. If protection can be simplified by keeping complexities behind, a true takaful model can be created, which...

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Feature

July renewals

  • Magazine article aboutFrom-return-to-sanity-to-testing-times

    From return to sanity to testing times

    Though the January renewals saw the return of sanity and focus on profitability, the July renewal will see partnerships tested. Mr Mahomed Akoob of Hannover ReTakaful says business is challenging, and challenging is good!

    Buy Now

  • Boosting demand through value creation

    MENA insurers need to offer more value by providing tailored solutions, leveraging new technologies and embracing innovations to stay competitive, says Mr Ronald Chidiac of Zaris & Partners.

The Last Page

  • Magazine article aboutDisruption-of-insurance-Don-t-get-carried-away

    Disruption of insurance? Don't get carried away

    Dr Kai-Uwe Schanz of Dr. Schanz, Alms & Company cautions against the disruption debate raging across the global insurance landscape taking on a life of its own, and says it’s time to pause and recap a few facts.