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IFRS17 implementation in Kuwait

IFRS17 was issued in May 2017 and sets out the principles for recognising, measuring, presenting and disclosing insurance contracts in the financial statements of insurance companies. Al Tamimi Kuwait’s Ms Passant Mansour provides this update on IFRS17 implementation in the Kuwait market.

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IFRS17 implementation in Qatar

Insurers in Qatar have been making progress in adopting IFRS17. While some insurers may have the resources needed to implement the new standard, others will need to overcome data collection issues.

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IFRS17 in Lebanon set back by economic woes

With Lebanon’s financial system paralyzed amid a deepening economic crisis, the country’s insurance industry has witnessed a major setback in the implementation of IFRS17. We spoke to Commercial Insurance Lebanon’s Mr Georges Salem to find out more.

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Insurers urged to prepare for the future

This year’s AqabaConf tackled major topics the regional insurance industry needs to consider to achieve sustainability and broaden horizons. Speakers also stressed the importance of forging stronger relationships with stakeholders from the private and public sectors.

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AIO calls for support for agriculture insurance in Africa

There is potential to grow the size of agriculture insurance business in the African continent but further support from governments and insurers is required to cater for the needs of farmers, said speakers at the 49th Conference and General Assembly of the African Insurance Organisation.

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Great prospects for marine insurance

Speakers at the IUMI Asia Forum 2023 addressed issues faced by the marine insurance industry in the region and the opportunities that lie ahead.

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Life & health

Health insurance premiums rise as deferred surgeries resume

Healthcare costs and insurance premiums in the Middle East are rising with the average annual increases now returning to pre-pandemic levels. Middle East Insurance Review spoke with AFIA Insurance Brokerage Services’ Mr Avinash Babur about the reasons for this surge.

Medical insurance gets expensive in Jordan

Increasing medical costs in Jordan could lead to higher health insurance premiums and will have a negative impact on those unable to afford proper healthcare. We look at the impact a new wage and fee structure in the medical sector could have on insurance in the country.

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Life insurance and Gen Z

With 40% of the Indian population consisting of Gen Z and millennials, it is a big group for the life insurers to catch them young. Being digitally literate and positively inclined towards insurance is an additional advantage with this group. Middle East Insurance Review spoke with Bharti AXA Life insurance’s Mr Nitin Mehta about how life insurers are exploiting this opportunity.

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Magazine

Jul 2023

Portfolio transfer of reinsurance contracts and discontinuation of the operation of Emirates Retakaful Limited, DIFC (Emirates Re DIFC)

Magazine Table of Contents

Insurance

General

Challenges of implementing IFRS17 in the UAE

IFRS17 implementation in Kuwait

IFRS17 implementation in Qatar

IFRS17 in Lebanon set back by economic woes

Insurers urged to prepare for the future

AIO calls for support for agriculture insurance in Africa

Great prospects for marine insurance

Life & health

Health insurance premiums rise as deferred surgeries resume

Medical insurance gets expensive in Jordan

Life insurance and Gen Z

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Magazine

Jul 2023

Contents

Magazine Table of Contents

Insurance

General

Life & health

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