The increasing number and frequency of losses, including fire incidents in skyscrapers, are putting insurers under pressure to increase retention levels. As the prolonged soft market continues to prevail, cedants are enjoying plentiful and cheap capacity. Global reinsurers are drawn by the large number of infrastructure projects in a region with limited exposure to catastrophe risk and scope for increased penetration in political, terrorism and cyber security.

Setting the tone for the industry

COUNTRY PROFILE - Oman

In a decisive year where national insurers are becoming publicly listed and the minimum capital requirements doubled, the industry is in transformation. Improved levels of transparency, accountability and efficiency are essential parts of the...

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Diabetes: It's worse than you thought, because it could be better than you think

LIFE & HEALTH

With the significant financial impact of diabetes on insurers, Mr Greg Solomon of Willis Towers Watson urges for a shift to using evidence-backed dietary advice to policyholders, and for improvements in medical underwriting with a greater emphasis...

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Editor's Message

Editor's Message
With September, there is renewed hype about business and a fresh start to ending the year with a big bang. The regional and global business scenes don’t hold out much promising hope, yet the drive is on to get the best possible on all fronts....

Interviews

A strategic shift for Oman Re
Oman Re, the country’s sole home-grown reinsurer, is actively engaged in implementing a turnaround strategy and has firmed up plans to strengthen its foothold in the Sultanate and benefit from the synergy with its strategic partner to build a...
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Special News

Two MENA countries among world's top-5 highest-growth markets
Total premiums in the 14 MENA countries reached US$57.6 billion last year, up 7.1% y-o-y, according to the latest sigma report on “World Insurance in 2016”. The 2016 growth rate was better than 2015’s 4.9% and 2014’s 6.8%....

Events News

Zaris & Partners is now Broktech Insurance & Reinsurance Brokers
Zaris & Partners has changed its name to Broktech Insurance & Reinsurance Brokers SAL as part of its rebranding and new marketing campaign.

Cover Story

Reinsurance

Fire-powered retention levels
The increasing number and frequency of losses, including fire incidents in skyscrapers, are putting insurers under pressure to increase retention levels. As the prolonged soft market continues to prevail, cedants are enjoying plentiful and cheap...
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Country Profile

Oman

Setting the tone for the industry
In a decisive year where national insurers are becoming publicly listed and the minimum capital requirements doubled, the industry is in transformation. Improved levels of transparency, accountability and efficiency are essential parts of the...
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Profitable but ...
The market is fundamentally profitable with return on equity superior to most of the GCC peers though premiums in P&C fell marginally by 1.7%. Mr Sachin Sahni of S&P assesses the risk factor in the market.
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Legislation that leads to more IPOs
With a large number of recent IPOs in Oman caused by amendments to the Oman Insurance Companies Law, Ms Catherine Jaskiewicz of BSA looks at the various provisions of the new legislation and the regulatory framework.
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Curtain raiser

ME Healthcare Conference

A Summit to diagnose health insurance issues
Middle East Insurance Review is bringing the Middle East Healthcare Insurance Conference to Muscat where the government is planning to introduce compulsory health insurance by January 2018.

Takaful Rendezvous

Explore hidden growth avenues to beat competition
Although the takaful industry has grown rapidly especially in the Middle East and Southeast Asia, it is still not fully exploited and, in most markets, takaful is lagging behind conventional insurance.

Life & Health

Diabetes: It's worse than you thought, because it could be better than you think
With the significant financial impact of diabetes on insurers, Mr Greg Solomon of Willis Towers Watson urges for a shift to using evidence-backed dietary advice to policyholders, and for improvements in medical underwriting with a greater emphasis...
Be digitally healthy
There is an increasing demand for new products and service innovations, digital tools, true product portability and flexibility, and a more integrated approach to the overall customer experience in health insurance. Messrs Damian Delaney of Now...
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Insights

HR Practices

Managing the HR revolution
As the insurance industry makes the transition to a largely unchartered terrain, traditional HR practices are unlikely to prove adequate to handle emerging strategic, business and employment practices challenges. Mr Christos Adamantiadis of Oman...
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Legal Page

Compensation payment sans policy
Is an insurer obliged to pay compensation for third party damages even when no policy confirming insurance coverage or its terms, including limits, could be found? In a groundbreaking verdict, using extra-contractual evidence, the Israeli Supreme...
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Takaful

Global trends

Converging trends in global takaful
Ms Farzana Ismail of Milliman makes quantitative and qualitative analyses of the global family and general takaful scene highlighting the different drivers for the respective businesses.
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Takaful in Malaysia

In need of a balancing act
The large protection gap in Malaysia and the low takaful penetration rate of the 60% Muslim population there highlight the huge potential of the industry. Mr Ezamshah Ismail of INCEIF says that with greater compliance leading to greater trust,...
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News

MENA

Already more than 500 signed up for 25th FAIR in Bahrain
A stellar array of insurance luminaries and speakers from across the world including the leaders of the world’s two thought leadership bodies, International Insurance Society (IIS) and The Geneva Association, will deliberate crucial issues...
Diabetes is worsening in the Middle East and Africa region
The diabetes burden is getting worse, not better, in the Middle East and Africa (MEA) region – putting growing pressure on healthcare providers and, in turn, the healthcare insurance industry.
MENA: Insurers need to transform strategy to sustain profits
Sustained profitability can only be achieved by MENA insurers through well-executed operational transformation strategy, backed by robust technology and a customer-centric approach, said EY in its report, “Insurance Opportunities in the Middle...