Magazine

Read the latest edition of AIR and MEIR as an Interactive e-book

Oct 2022

Contents

October-Home
Editor's Letter
Magazine article aboutInsurTech-Boom-or-bust-

InsurTech: Boom or bust?

Market Profile
Magazine article aboutListed-insurers-outperform-takaful-counterparts

Kuwait

Listed insurers outperform takaful counterparts

Oil and gas windfall to fuel sustained growth

Insurers struggle with licensing

Motor the silver lining for InsurTechs

Market spotlight
Magazine article aboutGrowth-rebounds-to-pre-crisis-levels

Morocco

Growth rebounds to pre-crisis levels

Expanded health scheme likely to impact revenues

Insurance
Magazine article aboutEvent-cancellation-insurance-facing-post-pandemic-conundrum

General

Event cancellation insurance facing post-pandemic conundrum

New technologies transforming insurance

View from India - Insurance penetration - what's missing?

Life & health

Macroeconomic instability and geopolitical risk: Impacts and implications

Reinsurance
Magazine article aboutSIRC-2022-Diversity-at-the-forefront

SIRC 2022: Diversity at the forefront

Renewals alert: Pricing and T&C in focus

Takaful
Magazine article aboutOvercoming-challenges-in-Islamic-finance-to-unlock-takaful-s-global-potential

Overcoming challenges in Islamic finance to unlock takaful's global potential

Training and development
Magazine article aboutSolving-the-region-s-talent-issues

Solving the region's talent issues

Updated curriculum necessary to meet industry demands

Technology in training and development

Actuarial
Magazine article aboutA-career-full-of-opportunities

A career full of opportunities

News

MENA

Finalists for 9th Middle East Insurance Industry Awards announced

Algeria: Insurance body says progress made on industry reform proposals

Egypt: Head of regulatory body outlines scope of functions

Jordan: Insurers and lawyers form cooperation committee

Kuwait: Regulator reminds insurers to renew licences by 30 Sep under new law

Lebanon: GlobeMed partners with university to foster a culture of continuous learning

Lebanon: Insurance data unclear in wake of economic and financial crisis

Oman: Insurance industry wants disaster insurance to be mandatory for properties

Saudi Arabia: Amana explores another merger opportunity

Tunisia: Sompo Japan shares insurance know-how in strategic partnership with AMI

Turkiye: New board of insurance regulator sets out work goals

UAE: DIFC Courts pronounce landmark decision for regional insurance market

UAE: Insurers ready to offer health cover for more UAE Golden Visa holders

Global

Global reinsurance capital down, profits and solvency up at 1H2022

Worldwide commercial lines direct premiums to exceed $1tn in 2022

Global: The reinsurance market has reached 'a tipping point'

Global: Insurance sector outlooks at risk from inflation, rising rates

Global: Rise in demand and prices expected to continue driven by increasing exposures and risk

Takaful

Oman: Restructuring of takaful company bears results

Palestine: Two new takaful operators to enter the market

Qatar: Local takaful companies post aggregate $31m in surpluses in 2021

Saudi Arabia: Walaa and SABB Takaful shareholders approve merger

Tunisia: Islamic bank gains control of takaful operator

UAE: Takaful Emarat board proposes $13.6m capital reduction

Global Risk Review

Climate change can impact recyclable energy sources too

Record-breaking heatwaves 'normal' by 2035

Cyber attack costs have risen by 80%

Corporate giants to view water pollution as financial risk

Discarded solar panels a toxic problem for landfills

Man-made crises add to Nat CAT burden

Financial support for fossil fuels doubled in 2021

Floods, heatwaves and landslides - top three concerns in Southeast Asia

As sea level rises, tax base goes down

Product Bites

Bahrain: bni launches 'pay-per-mile' insurance cover

Oman: Braxtone ties-up with NLG to provide roadside assistance service

Pakistan: Salaam-Takaful and Syngenta team up to cover farmers

UAE: Al Ain Ahlia Insurance launches 'School and Family Care Package'

UAE: Policybazaar.ae and Adamjee partner to offer heath plans for Pakistani nationals

Diary
People on the move

People on the move

Insurance

General

Event cancellation insurance facing post-pandemic conundrum

The pandemic has shone a spotlight on event cancellation insurance. With the Middle East playing host to more and more events these days, ACE Gallagher’s Mr Simon Fisher talks about the many intricacies involved in providing the necessary coverage.
 

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New technologies transforming insurance

Most Middle Eastern countries have started embracing digitalisation and over the last few years. The latest technologies like AI, analytics and robotic process automation have seen greater adoption, helping insurers reinvent their business model to achieve significant operational and cost efficiencies, says KPMG’s Mr Anay Srivastava.
 

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View from India - Insurance penetration - what's missing?

Despite all efforts, insurance penetration in India has remained consistently low even after two decades of liberalising the industry. What is missing in the whole picture that could enable better penetration levels? Middle East Insurance Review spoke with Insurance Brokers Association of India’s Mr R Balasundaram to find out what is missing.
 

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Life & health

Macroeconomic instability and geopolitical risk: Impacts and implications

Global events over the last few years have significantly affected most peoples’ lives. HAYAH Insurance Company’s Mr Mohamed Seghir gives his thoughts on how this will affect life insurance in the GCC and what the industry can do to adapt to these changes.
 

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