Fit for the future
InsurTech
Disruption in full swing
The upside of digital disruption
Growing takaful with InsurTech
United Arab Emirates
Time to re-examine strategies
Stable returns for UAE insurers make the market attractive for foreign investors
Retirement and savings to spur growth in the GCC: Gulf Insurance Forum
Oman
New regulations promise better prospects
Energy
Tech-based threats the new emerging risks for energy companies
Broking
In the digital economy, a great customer experience is more important than ever
Maximising the reach of trade credit insurance
Reinsurance
Mechanisms of collaboration among emerging-market reinsurers
Protecting the entrepreneurial spirit
Takaful needs to be more affordable, say experts
Better cooperation paves the way for further growth
Regulations for a better marketplace
MENA
MENA: Reinsurance market has lower level of underwriting returns
MENA: GAIF works on electronic links for cross-border motor insurance
Industry veterans publish book on pioneers of Arab insurance
Middle East: Minority of residents think they could take more action on climate change
Algeria: Insurers hit by debts owed by paralysed industrial groups
Bahrain: Govt unveils new growth blueprint
Bahrain: Call to streamline motor insurance policies
Egypt: Private sector players to participate in national health insurance system
Egypt: Insurers step up establishing risk management panels to obtain credit rating
Egypt: Technical loss rate narrows on higher premiums in 1H
Egypt: Prudential Financial invests in Sarwa Life
Jordan: Industry's 1H net profit surged 40% to $18m
Kuwait: Gulf tensions raise the cost of insurance on local oil tankers by 775%
Libya: Insurer signs cooperation protocol with Insurance Institute of Egypt
Morocco: Disaster insurance scheduled to be introduced next year
Morocco: State-owned agriculture bank sets up insurance brokerage
Oman: Regulator issues rules for mandatory health insurance scheme
Qatar: QFC expands its platform to more FinTech providers
Saudi Arabia: Regulator introduces medical insurance policy for tourists
Tunisia: New insurance law to introduce simplified contracts
Turkey: Ministry establishes state-owned reinsurer
Turkey: 40,000 insure Istanbul homes within 4 days following quake
UAE: Dubai adopts coding to enhance standardised medical service reporting
UAE: Etihad Credit Insurance awards contract to Coface
UAE: Number of local hires in insurance sector grows
UAE: Traffic deaths fall by 34% in five years
Global
Losses from cyber attacks set to reach all-time high
Global economy to dodge recession, but expect flat growth
Green and sustainable bond issuance by insurers gaining momentum
Takaful
Egypt: Takaful firms narrow 1H technical loss rate
Egypt: Takaful operators vying for national bank's Islamic branch clients
Saudi Arabia: Bupa Arabia joins MCSI EM Index
Saudi Arabia: Walaa to take over MetLife AIG ANB via share swap
Saudi Arabia: Al Etihad engages SRB to boost shariah-compliant products
UAE: Salama to raise foreign ownership to maximum limit
MAPFRE ASISTENCIA team at the 26th FAIR Conference in Marrakech
50th Gulf Assist Board of Directors Meeting in Bahrain: Completing 25 years of Gulf Assist in the Middle East Market
People on the move
COUNTRY PROFILE - United Arab Emirates
COVER STORY - InsurTech
The insurance industry has long been characterised as conservative when it comes to innovation, but the disruptive forces threatening traditional business models are pressuring players for a transformational response in order for them to remain...
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FEATURE - Energy
The energy sector remains a key target for terrorism and political violence. The recent drone attack on Saudi oil facilities has raised important questions for energy operators and insurers regarding identifying and mitigating potential future risks...
INTERVIEW
The rise of emerging technologies offers insurers the opportunity to transform the way they do business and engage with customers and partners. MetLife is building and scaling its core technological capabilities and taking them global in its effort...
EVENTS
MAPFRE ASISTENCIA Middle East unit attended the 26th Federation of Afro-Asian Insurers and Reinsurers (FAIR) Conference which took place at Palmeraie Golf Palace in Marrakech, Morocco from 23-25 September.
It’s November! And the times are hard, says everyone. It is the time of global economic turmoil. It is the time of political tensions with pressures and in-fighting. It seems the worst of times with cold war dynamics and fake news...
The level of disruption is rising globally. And after six years of being classified as ‘vulnerable’, the insurance sector has moved into the ‘volatile’ quadrant where it can no longer afford to take the wait-and-see approach...
InsurTech can and will help in the promotion, standardisation and harmonisation of takaful products, as well as their broader integration with existing Islamic finance mechanisms. Partnerships, collaboration and ecosystems need to remain in focus...
Growth has decelerated in the UAE insurance sector in 2018 for the first time in 10 years, which should prompt players to revisit their business strategies, avoid harmful competition and expand their offerings in new areas, especially life and...
Improvement in regulatory supervision, risk-management practices and pricing capabilities have been drivers in the growth of the UAE market. And given its size, the market would be attractive to a number of regional and international insurers,...
Demographic changes, along with the growing interest in shifting the burden of social services to the private sector in the GCC, should encourage insurers to expand their offerings in the end-of-service benefits and savings programmes, said speakers...
Mr Murtadha M J Ibrahim Al Jamalani of Oman Chamber of Commerce and Industry (OCCI) discusses the status of the insurance sector in the sultanate and explains why there remains much to be done so that players can further benefit from potential...
True omnichannel customer service, a strategy that integrates multiple contact methods for clients and customer service teams, ensures that customer journeys can flow and cross between them based on individual needs, says Ms Carine Moneyron of Nexus.
Trade credit insurance has a lot more room for growth in the Middle East unlike in many European countries where almost 90% of businesses insure their receivables. Ms Syama Jilani of RKH DIFC explains the opportunities for brokers, underwriters and...
Mr Youssef Fassi Fihri of Société Centrale de Réassurance (SCR) shares the findings of a recent study on the measures that emerging-market reinsurers deploy to counter a number of perceived disadvantages relating to their...
To respond to the needs of the new generation in order to remain relevant and increase its share of the Islamic finance industry, Mr Ikram Thowfeek of MIT Global proposes the concept of ‘entrepreneurial takaful’, designed to protect...
Takaful represents 17% of total combined premiums in Malaysia, but to make the next leap in growth, it has to be made more inclusive and affordable.
The emphasis on cooperation was the common thread that ran throughout the Federation of Afro-Asian Insurers & Reinsurers (FAIR) Conference held in Marrakech on 23 to 25 September, where industry players discussed top concerns such as developing...
Dealing with regulatory challenges is a priority for (re)insurers in Africa in order for the industry to achieve sustainable growth and flourish, said speakers at the 24th African Reinsurance Forum held in Tunis in September.
The MENA reinsurance market is slightly behind the global average in terms of the combined ratio, and therefore, has a lower level of underwriting returns, said Mr Salman Siddiqui, director of analytics at AM Best.
The General Arab Insurance Federation (GAIF) is working on setting up electronic links for its Orange Card motor insurance facility, to smoothen vehicle travel between Arab states, said Mr Chakib Abouzaid, secretary general of the federation.
Insurance veterans Messrs Tayseer Treky and Misbah Kamal have recently released ‘Memory of Arab Insurance: Interviews’ – a compilation of 10 interviews featuring industry practitioners from Iraq (Messrs Baha Baheej Shukri and Abdul...
The 50th Gulf Assist Board of Directors Meeting was held on 17 October at InterContinental Regency, Bahrain.