MENA has not seen any consolidation in the real sense in the past two years, leaving the market with more or less the same number of insurance players. The pace will remain slow until there is a change in the mindset of shareholders, especially those of family-owned companies, and a real push from regulators giving insurers only two options – comply or consolidate.

Strength in the face of adversity

COUNTRY PROFILE - Lebanon

Though challenges remain with saturation in domestic market, Lebanon’s insurance sector has responded with tenacity and still growing though at a slower rate.

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All eyes on Africa

SPOTLIGHT ON AFRICA

The low penetration rate, huge population size, growing infrastructure investments and diversified economies, all offer immense opportunities for Africa’s insurance industry to grow and prosper.

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All Stories

Editor's Message

Editor's Message
The complex geopolitical situation does present high risks in the region. But interestingly, those operating here work with a salutary ‘business as usual’ motif, minimising the impact of these tensions.

Interview

Oman Insurance: True success can only be achieved with a great team
After seven years in Asia, Mr Jean-Louis Laurent Josi returns to Dubai as the new CEO of Oman Insurance Company (OIC), ready to tackle one of the world’s most dynamic and innovative insurance markets.
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Cover Story

M&A

Elusive consolidation
MENA has not seen any consolidation in the real sense in the past two years, leaving the market with more or less the same number of insurance players. The pace will remain slow until there is a change in the mindset of shareholders, especially...
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Country Profile

Lebanon

Strength in the face of adversity
Though challenges remain with saturation in domestic market, Lebanon’s insurance sector has responded with tenacity and still growing though at a slower rate.
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The drive to flourish with life
Regional strife has impacted the business environment, but the life sector has done well, outpacing industry and economic growth with a 5% surge in premiums. The upward trend looks set to continue in 2018.
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Spotlight on Africa

All eyes on Africa
The low penetration rate, huge population size, growing infrastructure investments and diversified economies, all offer immense opportunities for Africa’s insurance industry to grow and prosper.
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Mobile tech aids healthcare access
Technology is making affordable healthcare a reality in Africa, says Ms Sonja de Pattenden of Now Health International.
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Feature

Insurance for SMEs

Health is a big issue for small businesses
Health insurance should be a vital part of the armory for SMEs operating out of the Middle East as it serves to attract and retain talent, says Mr David Healy of Aetna International.
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SMEs at risk
SMEs can easily fail due to under-insurance or overlooking other critical protection they need to manage business risks, says Mr Anthony Cerchiai of Nexus Insurance Brokers.
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Insights

Political Risk Insurance

Managing risks in an unstable world
The complex geopolitical situation in the Middle East presents high risks for businesses operating in the region. Messrs Jason Herriot and Vipul Gupta of MS Amlin explain how the company delivers the right insurance cover at the right price.

Cyber Risks

Cyber security in a data-driven world
Tighter data privacy laws should come on the heels of the digital revolution in the Middle East to combat cyber attacks, says Mr Simon Isgar of Kennedys.
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Technology Column

Invita uses Beyontec Suite for faster motor claims processing
By using Beyontec Solutions’ claims management system, motor TPA Invita Claims Management Company is able to process a motor claim request from days to a matter of hours for insurers in Bahrain.

Takaful – Market Profile

Africa

Momentum stalled but potential remains
Takaful operations account for a negligible portion of Africa’s total insurance business and has so far failed to show strong presence in the continent. Still, there are encouraging attempts to benefit from the continent’s massive Muslim...
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Conference Report

World Takaful Conference: The differentiating factor
With cutting-edge technologies like AI and blockchain being integrated into insurance, the need for takaful and insurance operators to differentiate their offering and adopt new technologies is crucial to unlock long-term profitable growth,...
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News

MENA

GCC: Healthcare spending to hit $104bn by 2022
A changing demographic and epidemiologic structure is stimulating demand for healthcare services in the GCC. At the same time, the role of the private sector in healthcare is increasing, encouraged by incentives, mandatory health insurance and other...
Algeria: Qatari insurer to complete property project this year
Qatar General Insurance and Reinsurance Company (QGIRCO) is developing a huge real-estate project in Algeria, expected to be completed by the end of this year, said media reports.
Bahrain: New law allows private employees access to pension benefits
The Shura Council has approved a law that will allow private sector employees to purchase assumed years of service so that they can enjoy relevant pension benefits in line with civil servants and military personnel.