Magazine

Feb 2017

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

Can technology make insurance more relevant?

GUEST EDITORIAL

Modern technologies, and digitisation in particular, have the potential to make insurance more appealing, more affordable and better understood. As a result, wide insurance gaps across the globe may narrow, boosting the industry’s contribution to economic and societal development, says Dr Kai-Uwe Schanz of Dr. Schanz, Alms & Company.
 


Tough regulations to trigger timely consolidation

COVER STORY - Regulations

A new wave of stringent regulations across the Middle East is set to trigger the much-needed consolidation leading to fundamental shakeups, pricing discipline and better consumer protection in a fragmented industry reeling from intense competition...

Semblance of the right track

COUNTRY PROFILE

The Saudi insurance industry scored high by the end of 2016 with profits soaring high as seen by preliminary financial results despite sluggish growth in GWP.

Featured Articles


All Stories

  • Magazine article aboutSemblance-of-the-right-track

    Semblance of the right track

    The Saudi insurance industry scored high by the end of 2016 with profits soaring high as seen by preliminary financial results despite sluggish growth in GWP.

  • A new normal in sight

    The GWP in the Saudi insurance market is unlikely to see double-digit growth in 2016 as in the previous years, though profitability is improving. The mirage of consolidation could eventually become a reality in the coming years.

  • An industry ripe for consolidation

    After increased earnings but slowing growth last year, 2017 will witness the pursuit of the uninsured and may yet become the year of M&A, when long-awaited consolidation of the insurance sector finally begins to happen. Mr David Anthony of...

Cover Story

Regulations

  • Magazine article aboutTough-regulations-to-trigger-timely-consolidation

    Tough regulations to trigger timely consolidation

    A new wave of stringent regulations across the Middle East is set to trigger the much-needed consolidation leading to fundamental shakeups, pricing discipline and better consumer protection in a fragmented industry reeling from intense competition...

Special Feature

Accounting standards

  • Magazine article aboutIFRS-17-insurance-contracts-Manage-the-changes-early

    IFRS 17 insurance contracts - Manage the changes early

    The upcoming accounting changes are the single most important accounting change for insurers, and a very important development towards a modern and advanced financial reporting environment. Mr Adeel Mushtaq of EY takes a closer view of the new...

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News

MENA

  • MENA: Economic growth to pick up to 3.1% this year - World Bank

    Economic growth in the MENA region is forecast to recover to 3.1% this year, with oil importers registering the strongest gains, according to the World Bank in its report “Global economic prospects – Weak investments in uncertain...

  • MENA sovereign ratings continue to deteriorate

    Overall sovereign creditworthiness in the MENA region has continued to deteriorate, according to a report from S&P Global Ratings. The report covers the 13 sovereigns in the region: Abu Dhabi, Bahrain, Egypt, Iraq, Jordan, Kuwait, Lebanon,...

  • Two insurers among GCC's 15 fastest growing listed companies

    Qatar Insurance Company (QIC) and Bupa Arabia for Cooperative Insurance have been named among the 15 fastest-growing companies in the GCC, taking the second and third spot, respectively, for their strong financial performance during the 2011-15...

Guest Editorial

  • Magazine article aboutCan-technology-make-insurance-more-relevant-

    Can technology make insurance more relevant?

    Modern technologies, and digitisation in particular, have the potential to make insurance more appealing, more affordable and better understood. As a result, wide insurance gaps across the globe may narrow, boosting the industry’s contribution...

Insights

Technology

  • Magazine article aboutThe-transforming-role-of-insurance-CIOs

    The transforming role of insurance CIOs

    The role of insurance CIOs is evolving rapidly as they seek to harness disruptive technologies with all possible measures to give their organisations an edge in this digital age.

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  • Insurance in the IoT era

    In the second of this two-part essay, Mr Anthony Bachara of GapCorp Insurance Brokers Muscat – the 2016 winner of the 3rd Essay Contest organised by the MENA Insurance CEO Club (MICC) on disruptive innovation in insurance – urges...

Security

  • Blockchain: A new tool to cut costs

    Blockchain is a unique opportunity for financial institutions, changing our lives in profound ways and unleashing a set of new capabilities to transform the way we interact and collaborate in our activities with better security and better...

Life & Health

Pensions

  • Magazine article aboutCashing-in-on-the-pensions-opportunity

    Cashing in on the pensions opportunity

    The pension crisis that is enveloping the Western world as well as the MENA region presents significant opportunities for the insurance industry. Private pensions, which are almost unknown in the region, are becoming an urgent need, offering vast...

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Journal

Diary of Events

People on the move

Feature

1/1 Renewals

  • Magazine article aboutPressure-on-prices-and-terms-lingers

    Pressure on prices and terms lingers

    Reinsurers of all sizes are struggling to reach profitable results, and combined ratios are coming down nearer to 100%. Arab reinsurers, sooner or later, will have to follow the lead of global players and seriously consider consolidations to reach...

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  • Another challenging year for reinsurers

    A roundup of the global January renewal reports shows a mixed picture with further price declines in some classes with over-capacity and a slower inflow of capital in other classes. Demand seemed stable.

Takaful – Market Profile

  • Magazine article aboutChina-a-fertile-ground-for-takaful

    China a fertile ground for takaful

    New regulations for agricultural cooperatives in China may provide a gateway for the introduction of takaful into China, says Dr Omar Clark Fisher of Khidr Solutions Consultancy.

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Editor's Message

  • Editor's Message

    It is February, and the world is getting used to a new Trump Presidency in the US, tougher Brexit, greater nationalism and greater populism in the world, with the migration problem still a hot potato, and tensions in the Middle East still brimming....