Magazine

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

May 2022

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

Overcoming hurdles to adopt blockchain

INSURANCE - General

Blockchain offers vast potential to improve the operations of insurers in the MENA region. It can be used to develop smart contracts, automate claims and even provide digital evidence for underwriting. However, blockchain adoption in the region remains at a nascent stage. Middle East Insurance Review spoke to XA Group’s Ms Mina Sahib and Now Health’s Mr Zahir Sharif about what is needed for blockchain to be used more widely.
 


Addressing the profitability challenge

MARKET PROFILE - Jordan

The aggregate profits of the 18 listed Jordanian insurers shrank 31.4% y-o-y to JOD17.7m last year due to economic slowdown from the pandemic and intense competition. The dismal situation means that industry stakeholders need to develop viable...

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Creation of a takaful champion

TAKAFUL

Many in the takaful industry have become inured to claims that the sector is finally going to turn the promise of significant growth into reality. But now it appears that real change might be on the horizon with the merging of two UAE-headquartered...

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All Stories

Insurance

General

  • Magazine article aboutMaking-a-better-business-case-for-ESG

    Making a better business case for ESG

    The growing awareness of ESG represents a business opportunity. For GCC insurers that operate in hydrocarbon-dependent economies, this means rethinking their businesses and looking across their value chain to address ESG-related risk holistically...

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  • ESG as a workforce strategy

    Over the last few years, ESG issues have become more of a concern among younger generations. Marsh’s Mr Scott Williams talks about how this could affect an insurance organisation’s ability to attract and retain talent.

  • Overcoming hurdles to adopt blockchain

    Blockchain offers vast potential to improve the operations of insurers in the MENA region. It can be used to develop smart contracts, automate claims and even provide digital evidence for underwriting. However, blockchain adoption in the region...

Market Profile

Jordan

  • Magazine article aboutEconomic-recovery-needed-before-market-can-grow

    Economic recovery needed before market can grow

    Jordan’s insurance market saw growth in premiums but a collapse in profits in 2021. However, further adoption of technology and a new regulator could mean a brighter future.

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  • Addressing the profitability challenge

    The aggregate profits of the 18 listed Jordanian insurers shrank 31.4% y-o-y to JOD17.7m last year due to economic slowdown from the pandemic and intense competition. The dismal situation means that industry stakeholders need to develop viable...

  • Intense competition creating barriers to profit

    Jordan life insurers face a market with low disposable incomes and rising unemployment rates, both of which affect the appeal of their products. We spoke to some experts to get their thoughts about the challenges facing the industry.

IFRS17

Reinsurance

  • Magazine article aboutRe-connecting--Re-shaping-the-future

    Re-connecting ... Re-shaping the future

    The announcement from the Singapore Reinsurers’ Association in early April that the 18th SIRC 2022 would be an in-person event came as a great relief to the many thousands of delegates and visitors who have made the annual reinsurance event a...

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  • Making reinsurance capital more efficient

    As a global business, Allianz Re views the world through a very wide lens. We spoke to the reinsurer’s Mr Holger Tewes-Kampelmann to see where the opportunities and risks lie and what the year ahead might hold in store.

  • A new reinsurance partner in DIFC

    With its DIFC operation having recently opened in March this year, we spoke to Gallagher’s Mr Nadim Semaan to find out more about the move and what its plans are.M

Takaful

  • Magazine article aboutCreation-of-a-takaful-champion

    Creation of a takaful champion

    Many in the takaful industry have become inured to claims that the sector is finally going to turn the promise of significant growth into reality. But now it appears that real change might be on the horizon with the merging of two UAE-headquartered...

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Actuarial

  • Magazine article aboutThe-future-of-actuarial-development

    The future of actuarial development

    Nicholas Actuarial Solutions, an established player in Southeast Asia, is one of the latest entrants in the MENA actuarial space. We spoke to Mr Nicholas Yeo to find out what drew the company to the Middle East and what potential lies ahead for...

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News

MENA

  • MENA: Online Orange Card launch

    The Inter-Arab Automobile Insurance Card (Orange Card) was launched in a digital format on 1 April 2022, dispensing with hard copies, said Tunisian Unified Automobile Bureau head Ahmed Hadroug.

  • GCC: Oman's NLGIC to enlarge regional footprint

    Oman International Development and Investment Company (OMINVEST) said its subsidiary National Life & General Insurance Company (NLGIC) has entered into agreements to acquire 100% of UAE-based RSA Middle East.

  • Egypt: Financial regulator develops credit rating system for the unbanked

    The Financial Regulatory Authority (FRA) is adopting an expansionary strategy to develop non-bank financial activities, by setting the necessary controls and legislation to keep pace with digital transformation processes, in line with global markets.

Global Risk Review

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