Data scientists all the way down
Construction claims and their challenges
Post-pandemic recovery may improve opportunities for trade credit insurers
Hope raises prospects for insurance sector
View from India
India could get a government actuarial department
Is there room for a new regional reinsurer?
UAE
Drawing a new regulatory roadmap
A modern international regulator
Market shows resilience
Robust performance of life and health
A focus on quality
Charting a sustainable path forward
A new phase in the cycle
Pursuing the gold standard in employee benefits
The green economy transition
Setting the stage for a regional pioneer in climate risk insurance
2020 climate review: Global temperatures and ENSO
Resilience in the new age of risk
Insuring oil and gas refineries: The insured's perspective
MENA
Bahrain: 4 listed insurers see 17% surge in combined profit in 2020
Bahrain: gig-Bahrain joins BIBF's corporate sponsorship project
Egypt: Insurers' combined net profit jumps by 25% in 2020
Jordan: COVID-19 causes 3.5% drop in total premiums in 2020
Jordan: Mandatory motor insurance system covers all accidents except for criminal or deliberate acts
Kuwait: New stricter regulations could accelerate insurance M&A
Kuwait: Reinsurer posts 11% rise in net profit in 2020
Lebanon: Non-life premiums grow marginally in 2020 despite economic and political ills
Oman: CMA launches electronic licensing system for health insurance TPAs
Qatar: Oman Re grows with new branch at QFC
Saudi Arabia: Health insurance council offers incentive to encourage mergers among insurers
UAE: DIFC records 20% growth in annual registrations in 2020
UAE: Belt-tightening drivers shun comprehensive motor insurance
Global
Brokers adapted well to COVID-19's forced digital transformation
COVID-19 vaccine-related phishing attacks up by 26%
Insurers should increase number of CAT risk models to boost insurability
UK: Barriers for insurance professionals to help vulnerable clients
Takaful
Malaysia: Takaful operators less affected by COVID-19 than conventional insurers
Saudi Arabia: Health insurer posts 15.5% increase in net profit before zakat of $220m in 2020
UAE: Watania posts 40% surge in net profit for 2020
UAE: SALAMA's audited net profit jumps by 160% in 2020 to over $42m
Product Bites
People on the move
MARKET PROFILE - UAE
Against the backdrop of the ongoing COVID-19 pandemic, the UAE takaful market will have to respond and adapt effectively to changes in demand, competition, regulations and technology in order to thrive in an increasingly complex operating...
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ESG
The (re)insurance sector has an important role to play in the Middle East’s ambition to transition away from a carbon-based economy, and inevitably, public-private partnerships are crucial in this move towards a greener future, says...
In the traditional model of an insurance company, the role of actuary was relatively easy to understand. They were the people who were trusted to get the pricing of risk right.
The severity and frequency of construction claims due to flood or fire in the Middle East have led to reinsurers requiring far more detailed investigation to ensure compliance with clauses incorporated into the majority of reinsurance contracts,...
The challenging business climate brought on by the COVID-19 pandemic has underscored the importance of trade credit insurance for SMEs caught in vulnerable situations, says Mr Michael Gardner of Markel International.
The successful launch of the Hope probe – the UAE’s first Mars mission – raises questions about the role the regional (re)insurance markets can play in similar future milestones. Insurance and reinsurance consultant Amer Daya...
With capacity migrating and several reinsurers shutting their business in the region over the years, there is an obvious gap that needs to be filled. Some market watchers have raised the prospect of setting up a new reinsurer to cater to the...
The long-anticipated merger of the UAE’s insurance regulator with its central bank finally came to pass at the end of January – delivering a single cohesive level of financial oversight that hints at the growing monetary sophistication...
Part of the genius of modern Dubai was the decision to launch the DIFC and so create a new financial services hub for the region. Regulating the insurance sector activity of entities based in the centre falls to the DFSA. We spoke to its chief...
The UAE insurance market continued to achieve an overall increase in profitability and premium growth in 2020 despite the pressures from lower oil prices and the COVID-19 pandemic.
Whilst there has been relatively little action taken by the UAE’s financial services regulators on how to address climate change risks in their regulatory frameworks, this may be about to change from 2021, say Messrs Wayne Jones and Ben Gray...
Mr Michal Lorinc of Aon analyses the global temperature trends to track changes in climate as 2020 set a record for warmth.
Chedid Capital executive director – governance, risk & compliance Mohamed Khalifeh offers his perspective on adjusting risk management and mitigation tactics to address the ever-changing risk landscape.
During this time of uncertainty and with the constantly changing landscape of oil and gas insurance, Mr Mohamed Tahiri of CEERISK Consulting gives the refinery perspective related to risk management and insurance.
Four insurers listed on the Bahrain Bourse have posted an aggregate net profit of BHD13.75m ($36.6m) for the 2020 financial year, an increase of 17% compared to BHD11.78m for the year 2019.
Bahrain Kuwait Insurance Company (gig-Bahrain), a subsidiary of Gulf Insurance Group (gig), announced that it has joined the corporate sponsorship project within the Bahrain Institute of Banking & Finance (BIBF) new iconic building at Bahrain...
The Egyptian insurance sector has posted a 25% jump in net surplus to EGP6bn ($381.5m) – comprising underwriting gains and investment returns – for the 12 months to 31 December 2020, compared to EGP4.8bn in 2019.