From Editor-in-Chief

IFSB marks decade of taking a road less travelled

The Islamic Financial Services Board (IFSB) celebrates its 10th year which will be marked by an anniversary dinner this month, on the sidelines of its annual summit held in Malaysia. Middle East Insurance Review sits down for an interview with...

Q-Re goes for make-over

QFC-based reinsurer Q-Re has made a clear statement of intent by putting in place a strong vision backed by an experienced team as it seeks to re-make itself into a leading reinsurance player. By Ridwan Abbas

Emirates Insurance - Move to diversify shows good early signs

Emirates Insurance CEO Jason Light speaks to Middle East Insurance Review about the company's diversification into the energy reinsurance market amid keen competition in the UAE. By Ridwan Abbas

Marine: The approach to marine risk assessment

Although piracy incidents in the Indian Ocean have declined, new hot spots are emerging and the risks of cargo theft and natural disasters continue to loom. Captain Andrew Walker of AIG discusses the threats to marine insurance and the need for...

Marine: Protecting your assets in transit

Given the challenges in the transportation sector, risk engineering can make a difference to companies as they enter new markets, says Mr Daniel Morrison of Zurich.

Marine: The Middle East - A key hub for global transport

Mr Andrew Kemp of freight transport insurer TT Club looks at the business development opportunities for brokers afforded by the Middle East and its increasingly important role as a global freight transport hub.

Facing the future with hope

Egypt's instability is casting shadows on the insurance sector. Despite the recent growth trends, players are uncertain of what the future holds.

Interview with regulator: Egypt remains attractive

The tough economic and political conditions have not prevented Egypt's insurance sector from growing and attracting foreign interest, says Dr Adel Moneer, in an interview with Middle East Insurance Review before leaving the Egyptian Financial...

Federation stands tall for industry

The Insurance Federation of Egypt is taking the necessary measures to help insurers overcome the current turbulence, while resuming its endeavours to regain Egypt's regional role, says President Abd El-Raouf Kotb.

Curtain raiser for AIO: The lure of Africa

Africa, with its developing economies and relatively low insurance penetration, is fast becoming the new gold rush for insurers. But with 55 different market conditions and national boundaries, investors require a good understanding of specific...

Curtain raiser for AIO: Strong demand for political risk covers in Africa

Demand for political risk insurance (PRI) has been growing notably in Africa, and although insurers are taking a more cautious approach to underwriting, capacity remains robust, says Mr Kit Brownlees of Gallagher London.

Curtain raiser for AIO: Insuring against interruption

Firms are focussing on operational issues in order to mobilise the resources necessary to secure their place in Africa's growing economy. As these firms grow, insurance is moving up the agenda in African boardrooms, but business interruption (BI)...

North Africa - the next takaful destination?

Despite takaful's late emergence in North Africa, investors are now aware of its potential and moving quickly to take advantage of this promising area, especially since the results of the Arab Spring revolutions have brought changes in favour of...

Takaful Regulations: IFRS4 Phase II - Stumbling over the building blocks?

IFRS4 Phase II will radically affect the way insurance accounts are presented, as it would impact the profit arising in an insurance entity. Ms Farzana Ismail and Mr Lee Kin Hoe of Actuarial Partners Consulting examine the implications for takaful...

Takaful Business Update: Takaful in a state of flux

Tough decisions need to be made to get the takaful model out of its inward-looking state to return to growth and profitability, and at the same time perform its noble mission, said speakers at the recent World Takaful Conference in Dubai.

ACE Group celebrates 60th Anniversary with new logo

BIA holds Insurance Awareness Week

MENA & GCC: Political risk eases in Gulf

Political risk has eased in 13 countries worldwide, including three Middle Eastern countries - Bahrain, Oman and the UAE - after several years of downgrades due to the Arab Spring, the political effects of the global financial crisis and persistent...

Middle East: Internal audit needs to take lead in risk awareness - PwC

Internal audit must significantly improve its performance or risk losing relevance as other internal risk functions become more vital contributors in the risk management area, said a PwC survey.

Bahrain: Trust Re's underwriting profit surges 74.5% in 2012

Trust Re saw its net underwriting profit grow by 74.5% y-o-y to US$15.4 million in 2012, while net profit rose by almost 6% to $17.8 million.

Global reinsurer capital hits record high

Global reinsurer capital reached a record level of US$505 billion at 31 December 2012, an increase of 11% from a year ago, according to the Aon Benfield Aggregate (ABA) report.

MIGA approves new facility for fragile economies

The Multilateral Investment Guarantee Agency (MIGA), the political risk insurance arm of the World Bank Group has approved the creation of the Conflict-Affected and Fragile Economies Facility to further deepen MIGA's support for investments into...

Australia: IAG eyes takaful segments in Malaysia and Indonesia

Insurance Australia Group (IAG) is keen to tap into opportunities in the takaful sectors in Malaysia and Indonesia, said Chief Executive Mike Wilkins in a recent interview with the Australian Financial Review.

Kenya: Takaful Insurance of Africa shares surplus with participants

Takaful Insurance of Africa (TIA) has announced surplus sharing worth KES15.6 million (US$184,000) from its contribution pool for the year 2012.

Malaysia: Prudential BSN sees 15% increase in new business

Prudential BSN Takaful (PruBSN) has recorded a 15% increase in new business sales to MYR265.7 million (US$85.9 million) on an Annual Contribution Equivalent (ACE) basis for the financial year ended 31 December 2012.

GCC Islamic banking assets continue healthy expansion

Islamic banking assets of commercial banks in the GCC are expected to have grown 14% on year to US$445 billion at the end of 2012, with the outlook for the industry remaining relatively positive in 2013, according to estimates by Ernst & Young's...

Middle East lags behind Southeast Asia in family takaful growth - Milliman

Family takaful in the Middle East has been stagnant since 2009, but global demand for family takaful products is expected in the foreseeable future, with contributions expected to more than double from US$2.2 billion in 2011 to about $5.6 billion in...

Global takaful sector tops 200 players

The number of takaful operators worldwide has increased to 200, with four additional new companies entering the segment compared to 196 the previous year, latest figures in the 7th World Islamic Insurance Directory (WIID) 2013 have shown.

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