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Dec 2021

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Source: Middle East Insurance Review | Oct 2021

Middle East: FPI launches new ESG fund range
Friends Provident International (FPI) has launched a new environmental, social and governance (ESG) fund range for those who want to invest more responsibly.
 
The responsible investing sector is supported by investment tools and educational articles, aimed at investor education, said FPI in a press statement. FPI is part of the International Financial Group which provides investment, savings and protection solutions to international investors based around the world.
 
The sector features a range of thematic equity funds whose portfolios invest in companies that contribute to positive societal change. The funds fall into one of the following six themes: Climate change; resources and energy; sustainable; human development; multi-thematic; and water and waste.
 
To help advisers and clients evaluate how investment funds are meeting ESG challenges, FPI’s interactive fund centres feature the Morningstar Sustainability Rating.
 
Funds that exhibit low overall carbon risk and have lower-than-average exposure to companies with fossil-fuel involvement will also feature a low carbon icon.
 
FPI investment marketing manager Chris Corkish said, “We know investors are looking more than ever for funds that invest in a responsible manner. As a result, more fund managers are integrating the assessment of ESG criteria into their asset allocation processes.
 
“Evidence shows that funds which integrate ESG are not only becoming more popular but also more successful. This means investors no longer have to sacrifice performance to invest in funds that are doing the right thing.” M 
 
Oman: Sohar International partners with Takaful Oman to offer travel products with COVID 19 cover
Sohar International has partnered with Takaful Oman Insurance to expand its portfolio to include a range of travel takaful products offered to customers with competitive rates and privileges.
 
Alongside other insurance products including health, home, life and personal accident, the travel takaful provides comprehensive coverage, including COVID-19 cover for travellers on international flights. Both citizens and residents of Oman are eligible to enrol in these plans with swift and easy processing.
 
In a statement, Sohar International said its comprehensive travel takaful offers customers a host of benefits including multiple geographical coverage options with emergency medical assistance and expenses up to $1m.
 
The COVID-19 cover can be extended for all plans at an additional cost of 10% of the total contribution amount if required.
 
Catering to the various customer requirements, the cover is packaged in three different plans; each with its set of features and benefits including single and annual multi-trips. It also provides travel coverage of up to two years, subject to the covered members being eligible for the services when they travel outside their usual country of residence for a period not exceeding 90 consecutive days per trip.
 
The eligibility age is up to 70 years and can be extended up to 80 years subject to additional contribution. M 
 
UAE: Noor Takaful launches premium healthcare insurance 
Noor Takaful has collaborated with The Health Bank (THB) for the launch of a new premium insurance solution, bringing the latest healthcare insurance plan to the takaful operator’s customers.
 
The new product, ‘Noor Premier’, will provide digital prescriptions, 24/7 access to a tele-doctor, wellness and lifestyle coaching, medical travel and scheduling assistance, ‘phone or face-to-face counselling support and a second medical opinion from world-renowned facilities.
 
Noor Premier will also offer consolidated digital health records for easy worldwide access, life managements services, dedicated health managers to guide its members and access to a global network of 50,000 leading healthcare providers. M 
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