Editor's Message

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  Editor's Message

  We burst into March with so much promise of action in the Middle East. There are many things happening on the regulatory front – some very proactive and forward-thinking, while others are long overdue. Some old issues resurface and remain. But...

Guest Editorial

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  Bright prospects await Arab insurance landscape

  The General Arab Insurance Federation (GAIF) can do more to boost the region’s insurance industry and enhance cooperation between Arab companies, says Mr Chakib Abouzaid of GroupMed Reinsurance Brokers.

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Interview

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  Adding value in an increasingly complex market

  London-based EC3 Brokers is the new kid on the block, having just established its latest venture in the DIFC, marking the company’s strategic expansion into the Middle East and Africa region. Its newly-appointed senior executive officer Steve...

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Cover Story

Life Insurance

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  The vicissitudes of life

  Life insurance remains a tough sell in MENA, but changes are afoot, creating opportunities for players able to adjust their strategies for business development and transformation to achieve sustainable growth for this line of business.

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Country Profile

Saudi Arabia

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  Looking forward to a new era

  The Saudi insurance market is still full of untapped opportunities, and the future bodes well with the government’s ambitious development plans. The sector is expected to take a leap forward in the coming period despite seeing slower growth...

• The market shall overcome growth challenges

  Operators are to benefit from the new economic developments in Saudi Arabia and overcome the slow growth witnessed over the past two years, says Mr Elie Abi Rached, CEO of Chedid Re, Saudi Arabia.

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Feature

M&A

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  Pushing for consolidation

  Messrs Robin Milner and Fergal O’Shea of Willis Towers Watson review factors likely to influence M&A involving Middle East insurers in the next few years – and how consolidation would benefit the market.

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Renewals

• Reinsurers grapple with new dynamics

  The Middle East reinsurance market is seeing a major shift with traditional European reinsurers exiting and new ones entering the scene, says Mr Ahmed Rajab of Shields Reinsurance Brokers.

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Insights

Risk

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  Why insurance companies fail

  Though there are many and varied reasons for the failure of insurance companies, Mr Murad Al Haj Mahmoud of Al-Etihad Cooperative Insurance Co argues that ultimately poor governance is to be blamed.

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Takaful Feature

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  New takaful regulations seek to drive distribution

  Insurance regulators in the GCC are introducing a slew of new rules pertaining to the distribution of takaful. Mr Peter Hodgins of Clyde & Co reviews some of these regulations.

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News

MENA

• Middle East & Africa: Rated insurers well capitalised to offset regional risks

  Suppressed oil prices have impacted the economies of countries in the Middle East and Africa (MEA), although (re)insurers rated by A.M. Best in the region generally remain well-capitalised, the rating agency said in a report.

• Middle East: Active cyclone season in 2018 highlights risks

  The Arabian Peninsula last year experienced its most active tropical cyclone season since 1992, said Willis Re in its report, ‘Summary of Natural Catastrophe Events 2018 - Insured losses and economic impact due to natural disasters’.

• GCC: Region's market outlook for 2019 is mostly positive

  The economic outlook for the GCC region as a whole remains positive, as the surge in oil revenues and fiscal reforms of past years will provide the necessary cushion for GCC countries to support economic growth through capital expenditure, said...

Diary

• Events

People on the move

• People on the move

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