Welcome to the party
Challenging business environment for non-life
Oman
Challenges exist for takaful
Favourable outlook for reinsurance despite global challenges
Insurers see drop in profitability
Oman's regulator is a hive of activity
Online channels boost insurance sales
Prudent outlook for life and health sector
The rising insurance industry
Saudi Arabia
Hajj insurers prioritise effective underwriting and actuarial revisions
General
Can motor insurance be profitable?
Pet insurance gaining traction in the Middle East
UAE unemployment insurance scheme uncertainties
War products gain interest but underwriting challenges remain
Life & health
Health insurance in North Africa
Mandatory health insurance in the GCC
Technological advances in implementing mandatory health insurance
Healthcare expenditure in GCC predicted to see growth
Stark urban and rural divide
Malaysia: Motor takaful stands up to conventional motor insurance
Failure of risk management in Australia
MENA
Middle East: Accounting changes keep GCC insurers on their toes
Middle East: July reinsurance renewals shift to full quota share model
Algeria: Labour ministry considers broadening the membership base of mutual insurers
Egypt: FRA issues regulations on digital transformation of non-bank financial sector
Egypt: High inflation makes it difficult for insurers to sustain real growth
Jordan: Health insurers reject contract terms proposed by pharmacists
Lebanon: Life premiums plunge by 32% to $250m in 2022
Morocco: Insurance sector mulls solution to received premiums owed by intermediaries
Tunisia: Number of fatal road accidents up sharply
Turkiye: Insurers expected to increase coinsurance
UAE: DIFC Insurance Association joins international trade body
UAE: Insurance sector's solvency nearly twice the required minimum at end-2022
UAE: Price war in motor insurance market
Global
Global insurance premiums forecast to grow despite economic slowdown
Global Nat CAT insured losses reach estimated $52bn in 1H 2023
US: Reinsurance costs expected to increase
Takaful
Global sukuk shows pockets of opportunity
Nigeria: Brokers seek to expand retail business via takaful
Oman: Takaful controls 14% of overall insurance market in 2022
Tunisia: Al Baraka Bank makes mandatory offer for shares of El Amana Takaful
UAE: Methaq's general assembly refuses to release the BOD and the auditor from liability for 2021 and 2022
Mining needs to be stepped up to meet net-zero targets
Rush for nickel is ravaging the environment
Shrinking Arctic glaciers are unearthing a new source of methane
Financial institutions still underestimating climate risks
Risk of isolation increases with sea-level rise
Ecosystems are beyond 'tipping point' now
Conflict deaths at highest level this century
Minimising risk in AI-driven healthcare
Snow and ice disappearing in the Hindu Kush Himalayas
Transparency around cyberattacks is important
Middle East: Arma begins offering professional indemnity and D&O liability
Egypt: Contact Insurance Brokerage offers free insurance for 'phone customers
Saudi: Al Rajhi provides free coverage for flights under new partnership
UAE: Dubai Insurance Company launches employee protection insurance for Dubai South
People on the move
MARKET PROFILE
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MARKET SPOTLIGHT - Saudi Arabia
Insurers in Saudi Arabia have been preparing themselves to provide cover for hajj pilgrimage post pandemic. Middle East Insurance Review spoke with Tawuniya’s Mr Mohammad Alsaeed for insights.
INSURANCE - Life & health
The Middle East is serving as a role model for how a health information exchange platform can be used to help in the implementation of mandatory health insurance. However, such initiatives must be led by regulators for it to work effectively. Middle...
RISK
Risk management has never previously had the focus it has today, and that should make every risk management professional excited to be part of the industry. In fact, the Governance Institute of Australia’s 2020 risk management survey...
It was a long time coming, but the world seems finally to have grasped the idea that it has to take responsibility for mitigating climate change and alter the way it does things.
General insurance businesses control the lion’s share of market premium income but suffer cutthroat competition which is hindering growth of operators and affecting profitability of the sector. The future looks promising with several mega...
Oman’s takaful insurance market is young and faces numerous challenges. However, it is progressing gradually. Middle East Insurance Review spoke with Takaful Oman Insurance’s Mr Neelmani Bhardwaj.
Reinsurers face significant challenges this year, prioritising adequate pricing to maintain desirable solvency ratios. Oman’s rapid economic growth poses an opportunity for reinsurers to benefit from a thriving insurance market. Middle East...
Can insurers in the Middle East beat motor claims inflation impacting their profitability? Growing motor claims is leading to a corresponding rise in premiums but will it be the right strategy? Middle East Insurance Review spoke with...
The pet insurance industry in the Middle East might still be a nascent market but it is growing quickly. Driven by expatriates and young, urban professionals, the industry is set to expand by 9.9% from 2022 to 2027 according to some sources....
Uncertainties and challenges surround the UAE’s mandatory unemployment insurance scheme as its enrolment deadline gets a further extension. Middle East Insurance Review spoke with Dubai Insurance Company’s Ms Dana Kansou to find out more.
In 2022, Malaysia’s motor takaful growth hit 20.7% against a five-year average growth of 13.8%. Middle East Insurance Review spoke to Zurich Takaful’s Mr Junior Cho and Syarikat Takaful Malaysia’s Mr Sabri Ramli about motor...
The adoption of IFRS17 and IFRS9 in the GCC region represents a significant change in accounting practices for some insurers and has fundamentally changed the way that they report their financial results, said S&P Global Ratings.
Reinsurance structures for pro rata property business moved towards a full quota share model during the July renewal season in the Middle East, according to broker Gallagher Re.
The Ministry of Labour is examining the importance of strengthening complementary social security and broadening the base of members of mutual insurance companies.
The world will have to mine more lithium, copper and nickel with urgency if it wants to hit its net-zero goals, according to the International Energy Agency (IAE).
The demand for nickel, which is used in mobile ‘phones and electric car batteries besides stainless steel, is likely to grow at least 65% by 2030, according to a new report by International Energy Agency.
Shrinking glaciers in the warming Arctic are exposing bubbling groundwater springs which could provide an underestimated source of the potent greenhouse gas methane according to a new research study.
Arma Underwriting has announced that it has begun writing professional indemnity and directors and officers liability, with the backing of Allied World’s Syndicate 2232 at Lloyd’s.
Contact Insurance Brokerage and retailer Mobilaty signed a partnership agreement to provide free insurance for the devices and ‘phones of the retailer’s customers for a period of one year, including comprehensive coverage for external...
Travel company Almosafer has partnered with Al Rajhi Takaful to provide customers in Saudi Arabia free trip insurance with every flight booking.