Companies across Europe, the Middle East and Africa (EMEA) are buying higher levels of liability insurance as fears increase over possible claims during the economic downturn, said global broker Marsh in a report.
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GCC-based financial advisors and retail investors are becoming increasingly “risk tolerant” and optimistic despite various challenges, including economic volatility, regional regulatory uncertainties and the prevailing geopolitical situation, said research firm Insight Discovery in a new report.
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Regulatory quality among 20 Arab countries retreated in 2011, with the average score amounting to -0.30 points, down from -0.24 points in 2010, said the Worldwide Governance Indicators (WGI) prepared jointly by the World Bank and the Brookings Institution.
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Participants at a two-day meeting of the Federation of Afro-Asian Insurers and Reinsurers (FAIR) have agreed to hold the 23rd FAIR Conference in Beijing, China on 16-20 September 2013, according to a statement from the Omani Capital Market Authority (CMA).
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Takaud Savings and Pensions Co, a member of the KIPCO Group, is planning to offer its first corporate pension plan in the fourth quarter of this year and products for individuals by the first quarter of next year, said media reports.
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Gulf Insurance Co (GIC) has signed a contract with Burgan Bank to obtain credit facilities worth US$52.7 million.
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Premiums generated under the Orange Card system in Lebanon reached US$947,000 in the first half of 2012, down 38% from $1.53 million in the same period last year, said media reports.
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Palestine’s insurance sector has achieved notable growth along the past few years but the structure of insurers’ portfolios remains unsound, said Mr Maher Al Masri, Chairman of the Capital Market Authority (CMA) at the second Palestinian Insurance Forum in Ramallah held in late September.
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TheCityUK, an independent body responsible for promoting financial services in the UK and abroad, has added Casablanca, Morocco to its network of international financial centres.
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Oman Reinsurance Co is planning to raise OMR10 million (US$30 million) in an initial public offering by 2014 to comply with regulatory requirements, said the Times of Oman citing a senior executive from the company.
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The QFC Regulatory Authority has released a consultation paper with proposed rule changes aimed at strengthening the current controls rulebook by promoting compliance with recently revised principles set by the International Association of Insurance Supervisors and the Basel Committee on Banking Supervision.
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The lack of medical skills and equipment and long wait for consultation are among the top reasons driving UAE citizens to seek treatment abroad instead of within the country, according to the latest survey conducted by the Dubai Health Authority (DHA) and Dubai Statistics Centre.
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Abu Dhabi National Insurance Company (ADNIC), in partnership with MedImpact Arabia, has implemented the Pharmacy Benefit Management (PBM) service.
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Coface Emirates Services said it is targeting more local SMEs by supporting their development through trade credit insurance (TCI).
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The Ministry of Public Health and Population is completing procedures to launch a new health insurance law in Yemen, said media reports.
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