7 October
Abu Dhabi and Dubai
UAE insurance market set for growth
Life insurance growth a marathon, not a sprint
Medical inflation detrimental for life and health reinsurers
New opportunities for non-life
Insurers prepare for complex regulatory environment
Israel-Palestine war impact on renewal discussions
Squeezing reinsurance margins not a sustainable tactic to lower price of risk
Finding the right balance between risk and reward
Investing in underwriting capacity and data-driven models
Reinsurance rates must develop further
Don't underestimate how brittle the reinsurance market is
Reinsurance profitability in the regions is back
View from India - Sikkim flood insurance implications
Saudi Arabia
Saudi Arabia expected to see more consolidation
General
Alternative distribution channels are growing
GCC bancassurance partnerships must evolve to stay relevant
Fighting fire with fire (insurance)
Egypt: Promising insurance sector despite challenging times
Life & health
Forging a sustainable healthcare insurance industry
Generative AI's potential in life and health insurance
Indonesia's retakaful operators challenged by new regulations
Parametric solutions in takaful
Takaful associations collaborate to grow expertise
Türkiye: Insurance industry focuses on Nat CAT and growth
MENA
MENA: Expertise and advice capability rated highly in picking reinsurance brokers
Algeria: Largest insurer eyes growth in overseas, starting with Africa
Bahrain: Insurance market improves topline and net results in 1H2023
Egypt: Proposals raised for Nat CAT insurance pool
Jordan: Government and officials intensify efforts to prepare for Nat CAT
Oman: Authority issues online insurance regulations
Qatar: Central Bank to regulate insurance price comparison platforms
Saudi Arabia: SAMA launches public consultation on draft revised motor insurance rules
Tunisia: Around 100 exporters enjoy trade credit insurance subsidies for exports
Tunisia: Proportion of farmers with insurance is less than 8%
Türkiye: High reinsurance premiums are inevitable in 2024
Türkiye: 'Quake insurance coverage jumps higher in Istanbul
UAE: Central bank's directive restores order to motor insurance pricing
Global
Scenario planning for insurers crucial amid economic uncertainty
Global: Important developments expected in global insurance standards in 2024
Global: 100 insurer groups command 61% of total gross direct premiums in 2022
Takaful
Indonesia: Extending spin-off deadline will boost development of takaful
Malaysia: Great Eastern proposes to acquire two AmMetLife units
Pakistan: TPL takaful window in strategic partnership with the country's biggest banks
Social unrest is rising and risk landscape becomes unpredictable
Interest in nature-related investments growing
Workplace mental health in Asia
Dark web monitoring service to help pre-empt cyber threats
Rising sea levels could flush toxic elements into coastal communities
Climate migration may become difficult for the poor
Multi-factor authentication can cut 99% of cyber attacks
Climate change may render top ports unusable by 2050
Climate litigation on the rise
Countries choose to urbanise in high risk places
CFC launches management liability solution for SME
GIG Jordan and Housing Bank launch travel insurance app
Insurance Federation of Egypt launches policies to boost financial inclusion
People on the move
REINSURANCE
MARKET PROFILE - Abu Dhabi and Dubai
Regulatory changes, geopolitical uncertainties and macroeconomic pressures have contributed to the growth of the UAE insurance market. Revamps of the mandatory health insurance scheme and compulsory unemployment insurance have also boosted the...
Buy Now
Real success for a global reinsurer is increasingly about spotting opportunities in different geographies as they arise – and then moving prudently to capitalise on them. We caught up with Allianz Re’s Mr Holger Tewes-Kampelmann on the...
The history of mankind is littered with incidences of war. It’s what we have always done and it’s probably what we will always do. But it doesn’t make it any less shocking each time war breaks out.
Insurance penetration remain low and closing the protection gap is a task that will take a lot of time. Customer trust and demand for cover is low, according to Sukoon’s Mr Emmanual Deschamps.
Inflation was a major topic in Monte Carlo for many lines of business. In Dubai, significant medical inflation is a concern for life and health reinsurers. Middle East Insurance Review spoke to Gen Re’s Dr Mazen Abouchakra for insights.
The Israel-Palestine war threatens to impact surrounding countries including Lebanon, Syria and Egypt. Middle East Insurance Review spoke to (re)insurance leaders about the potential impact the war may have on the industry.
Collaboration is essential in overcoming the existential problems posed by climate change. We spoke to Hannover Re’s Mr Jean-Jacques Henchoz to find out more about how the reinsurer is growing and adapting to market dynamics.
Meeting the challenge of rising catastrophe risk is best met by a reinsurance sector that is healthy and well capitalised. We spoke to SCOR’s Mr Thierry Léger about finding the right solutions for a healthy industry and a healthier...
A challenging period for profitability in 2022 had caused insurers in Saudi Arabia to slow plans to merge. Middle East Insurance Review looks at the progress of M&A activity in the country this year.
Insurers in the Middle East face several challenges in using embedded insurance and market aggregation platforms as a distribution channel. Despite the challenges, Policybazaar.ae’s Mr Neeraj Gupta said such distribution channels have been...
The GCC region has witnessed several bancassurance partnerships and this is expected to grow further in the future but both banks and insurers must evolve to stay relevant in the face of increasing competition from web aggregators and InsurTechs.
Many countries in the Middle East and North Africa are affected by climate change and the region is especially vulnerable to increased frequency of extreme climatic events. Middle East Insurance Review spoke with Speciality MGA UK’s Mr Phillip...
Retakaful in Indonesia has much potential to grow, but in the short to medium term the direction of the sector depends on proposed regulations - including new capital requirements. ARB Indonesia’s Mr Mike Seward spoke to Middle East Insurance...
Parametric solutions may offer many advantages for takaful operators but they must overcome challenges in pricing and design. AXA Climate’s Mr Toby Behrmann spoke to Middle East Insurance Review about the adoption of parametric solutions in...
Takaful operators in Malaysia and Indonesia have recorded stable growth over the past year. However, they face challenges getting the right talent and expertise to scale their operations. Speakers at the Takaful Rendezvous 2023 shared their insights...
Insurers in Türkiye have been challenged by Nat CAT and economic. However, some remain undeterred in developing solutions to help the country recover from catastrophic events and prepare for future ones.
More than half (55%) of respondents to a regional survey on selecting a reinsurance broker for treaty placements said that know-how and the ability to advise the insurer about reinsurance structures are their top two criteria in making their choice.
Algeria’s biggest insurance company, the state-owned National Insurance Company intends to expand its operations abroad.
Bahrain’s insurance market saw a growth of 3.1% during the first half of this year, with insurance premiums reaching BHD151.49m ($401.89m), compared to BHD146.86m in the corresponding period of 2022, according to data from the Central Bank of...
Social unrest, strike action and political activism are on the rise across the globe, triggered by inequality and a growing concern that social liberties are being eroded according to a new report by Gallagher Re.
More than two-thirds (69%) of global investors have engaged in nature investment plans to increase their investments according to a new report from climate and nature advisory firm Pollination.
A new report has revealed that 82% of workers in Asia have a high (35%) to moderate (47%) mental health risk, which highlights a growing concern of workplace wellbeing in Asia.
Specialist insurance provider CFC announced the launch of a management liability solution designed to meet the needs of SMEs in the Middle East.
GIG Jordan and Housing Bank have launched a travel insurance service that allows customers to purchase and issue insurance policies for international travel to destinations worldwide, including Europe and the Middle East.
The Insurance Federation of Egypt (IFE) has launched two new types of insurance policies - for irrigated crops and informal workers, in efforts to boost financial inclusion.