Modern technologies, and digitisation in particular, have the potential to make insurance more appealing, more affordable and better understood. As a result, wide insurance gaps across the globe may narrow, boosting the industry’s contribution to economic and societal development, says Dr Kai-Uwe Schanz of Dr. Schanz, Alms & Company.

Tough regulations to trigger timely consolidation

COVER STORY - Regulations

A new wave of stringent regulations across the Middle East is set to trigger the much-needed consolidation leading to fundamental shakeups, pricing discipline and better consumer protection in a fragmented industry reeling from intense competition...

Buy Now

Semblance of the right track

COUNTRY PROFILE

The Saudi insurance industry scored high by the end of 2016 with profits soaring high as seen by preliminary financial results despite sluggish growth in GWP.

All Stories

Editor's Message

Editor's Message
It is February, and the world is getting used to a new Trump Presidency in the US, tougher Brexit, greater nationalism and greater populism in the world, with the migration problem still a hot potato, and tensions in the Middle East still brimming....

Guest Editorial

Can technology make insurance more relevant?
Modern technologies, and digitisation in particular, have the potential to make insurance more appealing, more affordable and better understood. As a result, wide insurance gaps across the globe may narrow, boosting the industry’s contribution...

Cover Story

Regulations

Tough regulations to trigger timely consolidation
A new wave of stringent regulations across the Middle East is set to trigger the much-needed consolidation leading to fundamental shakeups, pricing discipline and better consumer protection in a fragmented industry reeling from intense competition...
Buy Now

Country Profile

Semblance of the right track
The Saudi insurance industry scored high by the end of 2016 with profits soaring high as seen by preliminary financial results despite sluggish growth in GWP.
A new normal in sight
The GWP in the Saudi insurance market is unlikely to see double-digit growth in 2016 as in the previous years, though profitability is improving. The mirage of consolidation could eventually become a reality in the coming years.
Buy Now
An industry ripe for consolidation
After increased earnings but slowing growth last year, 2017 will witness the pursuit of the uninsured and may yet become the year of M&A, when long-awaited consolidation of the insurance sector finally begins to happen. Mr David Anthony of...
Buy Now

Feature

1/1 Renewals

Pressure on prices and terms lingers
Reinsurers of all sizes are struggling to reach profitable results, and combined ratios are coming down nearer to 100%. Arab reinsurers, sooner or later, will have to follow the lead of global players and seriously consider consolidations to reach...
Buy Now
Another challenging year for reinsurers
A roundup of the global January renewal reports shows a mixed picture with further price declines in some classes with over-capacity and a slower inflow of capital in other classes. Demand seemed stable.
Buy Now

Insights

Technology

The transforming role of insurance CIOs
The role of insurance CIOs is evolving rapidly as they seek to harness disruptive technologies with all possible measures to give their organisations an edge in this digital age.
Buy Now
Insurance in the IoT era
In the second of this two-part essay, Mr Anthony Bachara of GapCorp Insurance Brokers Muscat – the 2016 winner of the 3rd Essay Contest organised by the MENA Insurance CEO Club (MICC) on disruptive innovation in insurance – urges...
Buy Now

Security

Blockchain: A new tool to cut costs
Blockchain is a unique opportunity for financial institutions, changing our lives in profound ways and unleashing a set of new capabilities to transform the way we interact and collaborate in our activities with better security and better...
Buy Now

Life & Health

Pensions

Cashing in on the pensions opportunity
The pension crisis that is enveloping the Western world as well as the MENA region presents significant opportunities for the insurance industry. Private pensions, which are almost unknown in the region, are becoming an urgent need, offering vast...
Buy Now

Special Feature

Accounting standards

IFRS 17 insurance contracts - Manage the changes early
The upcoming accounting changes are the single most important accounting change for insurers, and a very important development towards a modern and advanced financial reporting environment. Mr Adeel Mushtaq of EY takes a closer view of the new...
Buy Now

Takaful – Market Profile

China a fertile ground for takaful
New regulations for agricultural cooperatives in China may provide a gateway for the introduction of takaful into China, says Dr Omar Clark Fisher of Khidr Solutions Consultancy.
Buy Now

News

MENA

MENA: Economic growth to pick up to 3.1% this year - World Bank
Economic growth in the MENA region is forecast to recover to 3.1% this year, with oil importers registering the strongest gains, according to the World Bank in its report “Global economic prospects – Weak investments in uncertain...
MENA sovereign ratings continue to deteriorate
Overall sovereign creditworthiness in the MENA region has continued to deteriorate, according to a report from S&P Global Ratings. The report covers the 13 sovereigns in the region: Abu Dhabi, Bahrain, Egypt, Iraq, Jordan, Kuwait, Lebanon,...
Two insurers among GCC's 15 fastest growing listed companies
Qatar Insurance Company (QIC) and Bupa Arabia for Cooperative Insurance have been named among the 15 fastest-growing companies in the GCC, taking the second and third spot, respectively, for their strong financial performance during the 2011-15...