Uncertain times ahead for MENA insurance
Egypt
Life business is the bright spot for Egypt
Regulating sustainability, InsurTech, takaful and price cutting
Outstanding growth in life in Egypt
Steady growth of non-life despite challenges
Where has Egypt's reinsurance capacity gone?
Technology an enabler for Egyptian insurers
Saudi Arabia
Oil windfall to benefit Saudi insurance industry
Fund raising and consolidation driven by capital requirements
Bringing health insurance into the future
The road to motor insurance for Vision 2030
Türkiye
Negative headlines? The truth paints a different picture
Insurance sector ripe for growth
Coping with rampant inflation
Battling inflation
General
Growth through acquisition
View from India - Are insurers ready for electric vehicles?
The effects of inflation on insurance claims
Lessons from Southeast Asia drive Middle East success story
Bancassurance and future distribution channels
The focus for bancassurance
Life & health
Preventing fraud and abuse in medical insurance
SIRC: Inflation implications for reinsurance
The strength of traditional broking
Bancatakaful gaining traction
Staying relevant through innovation
MENA
Middle East: JENOA adopts flood risk in the region
GCC: UAE and Saudi insurance markets forecast to grow by at least 5% this year
Egypt: Motor insurers eyeing 10% increase in premium income
Lebanon: Insurance regulatory reform in limbo because of political deadlock
Morocco: Insurers' counterparty risk remains under control
Qatar: QIC Group net profit rises 14% to $110m in 1H2022
Saudi Arabia: Insurers required to pay small motor third-party liability claims within 5 working days
Saudi Arabia: CMA greenlights Walaa's capital increase for merger with SABB Takaful
Turkiye: Regulator seeks structural solution for motor third-party insurance branch
UAE: DIFC Insurance Association enters new era with leadership changes
UAE: Goverenment launches website for owners of vehicles damaged in floods
Global
Global: Reinsurance M&A stalls amid macroeconomic risks, volatile claims
Global: Poor claims experiences could put up to $170bn of global insurance premiums at risk by 2027
Global: Commercial insurance industry under growing pressure from economic uncertainty, ESG activism and deglobalisation
Takaful
GCC: Takaful operators continue to suffer from intense competition
Egypt: Contributions leap by 108% in 1H2022
Saudi Arabia: SAMA approves merger between SABB Takaful and Walaa
Turkiye: Takaful contributions soar by 109% in 1H2022
UAE: Dar Al Takaful announces 1H2022 results
Top causes of insurance claims
South Korea: Largest general insurers stick with coal
Landfills could soon be inundated with wind turbine blades
Cyber security and data privacy top people-related risk in Asia
Semiconductor industry supply chain risks
Disconnect between finance and operations teams exposes new risks
Climate change risk blindspots
Climate catastrophes are being ignored
Risks that worry mid-sized companies
Malaysia: KTMB offers takaful plan for passengers
Saudi Arabia: Bupa Arabia gets SAMA's final nod on insurance product
UAE: Daman rolls out exclusive packages for Golden Visa holders
UAE: SALAMA works with wellness-centric health insurance platform
UAE: Online third-party motor insurance solution launches at competitive rates
People on the move
MARKET PROFILE - Egypt
MARKET SPOTLIGHT - Saudi Arabia
The Kingdom of Saudi Arabia has been focused on enhancing several public services as part of its Vision 2030 plan, with healthcare and health insurance at the forefront. Billions of dollars are being invested into bringing the kingdom’s...
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MARKET SPOTLIGHT - Türkiye
The Turkish insurance market is still underpenetrated compared to its peers and will provide significant potential as new insurers set up shop and acquire a share of the relatively untapped market. While the insurance premium/GDP ratio is 7%...
Rising commodity prices could prove to be a burden for most countries – and a double-edged sword for the energy-producing countries of the Middle East.
Egypt’s insurance sector achieved top-line growth of 13.1% to reach EGP27.8bn ($1.4bn) during the January-June period of 2022, led by robust performance of the life and takaful segments. In particular, life not only outpaced that of non-life...
All eyes are likely to be on the activity of Egypt’s insurance regulator as life insurance business surges ahead of P&C insurance in the first half of the year. We take a look at the most significant regulatory developments to touch the...
Life and medical insurance in Egypt have been growing steadily despite the challenges that hit the country in the past period and will remain growth drivers in the coming years.
Rising energy prices caused by Russia president Vladimir Putin’s invasion of Ukraine is proving to be a huge benefit to several countries in the Middle East, which are in the position to take advantage of the windfall in order to increase...
Saudi insurers are raising funds following requirements to increase their minimum capital. A few have signed M&A deals leading to further consolidation of the market. Middle East Insurance Review spoke to Badri Management Consultancy’s Mr...
With its recent acquisition of a majority stake in Gulf Assist, Europ Assistance aims to bring new services and tools to its partners in the Middle East with aspirations to improve the quality of services. Messrs Pascal Baumgarten and Enrique...
As the era of electric vehicles begins in India, how prepared is the insurance industry to handle the new risk? Tata Motors Insurance Broking and Advisory Service’s Mr M Ravichandran briefs Middle East Insurance Review on how the insurers...
Despite post-COVID recovery being well under way, MENA’s insurance industry is facing significant claims inflation. GRS Middle East Loss Adjusters’ Mr Jim Pittman looks at the factors in play.
The full agenda for this year’s Singapore International Reinsurance Conference is taking shape under the steady guidance of the Singapore Reinsurers’ Association. We take a sneak peek at how the proceedings are firming up.
Oneglobal Broking is a relatively new insurance broker – and a new entrant to the DIFC. We caught up with Mr Matthew Warren to see where new business opportunities lie and which geographies the broker will focus on.
Over the last year or so, there has been an uptick of activity related to bancatakaful across multiple markets. We look at some of the notable developments.
RISC Institute is a financial services training and talent development organisation serving the insurance, capital markets, risk management and personal financial planning sectors in the MENA region. We spoke to RISC’s Mr Silvan Said about how...
Boutique digital broker JENOA Insurance & Risk Management has adopted global flood maps from RMS to provide an analytical view of flood risk in the Middle East.
S&P Global Ratings has forecast that gross premiums in the UAE will grow by approximately 5% and the Saudi insurance market will see GWP increase by 5-10% in 2022.
The Egyptian Compulsory Vehicle Insurance Pool is working to help motor insurers meet the target of EGP1.3bn ($67.9m) in premium income in the current financial year ending 20 June 2023 (FY2023). This represents a targeted growth rate of 10%.
Over the past five years, fire and explosion, natural catastrophes and faulty workmanship or maintenance have been the major causes of loss by value of insurance claims, according to the Global Claims Review 2022 published by Allianz Global...
South Korea’s two general insurers Samsung Fire & Marine Insurance (Samsung FMI) and Hyundai Marine & Fire Insurance (Hyundai MFI) have no plans to phase out existing insurance underwriting for coal, according to their latest ESG...
Tens of thousands of wind turbine blades will end up in landfills by the end of the decade unless end-of-life programmes are established soon, according to a new study End-of-life policy considerations for wind turbine blades led by the University...
Malaysia railway company KTMB has teamed up with Etiqa General Takaful to provide a new integrated ticketing system passenger takaful plan to users and electric train service passengers.
Bupa Arabia has received the final approval from the Saudi Central Bank (SAMA) to sell its new insurance product called ‘Bupa Policy Benefit Upgrade’ in the kingdom.
The National Health Insurance Company (Daman) has launched exclusive health insurance packages for Golden Visa holders in the UAE.