InsurTech: Boom or bust?
Kuwait
Listed insurers outperform takaful counterparts
Oil and gas windfall to fuel sustained growth
Insurers struggle with licensing
Motor the silver lining for InsurTechs
Morocco
Growth rebounds to pre-crisis levels
Expanded health scheme likely to impact revenues
General
Event cancellation insurance facing post-pandemic conundrum
New technologies transforming insurance
View from India - Insurance penetration - what's missing?
Life & health
Macroeconomic instability and geopolitical risk: Impacts and implications
SIRC 2022: Diversity at the forefront
Renewals alert: Pricing and T&C in focus
Overcoming challenges in Islamic finance to unlock takaful's global potential
Solving the region's talent issues
Updated curriculum necessary to meet industry demands
Technology in training and development
A career full of opportunities
MENA
Finalists for 9th Middle East Insurance Industry Awards announced
Algeria: Insurance body says progress made on industry reform proposals
Egypt: Head of regulatory body outlines scope of functions
Jordan: Insurers and lawyers form cooperation committee
Kuwait: Regulator reminds insurers to renew licences by 30 Sep under new law
Lebanon: GlobeMed partners with university to foster a culture of continuous learning
Lebanon: Insurance data unclear in wake of economic and financial crisis
Oman: Insurance industry wants disaster insurance to be mandatory for properties
Saudi Arabia: Amana explores another merger opportunity
Tunisia: Sompo Japan shares insurance know-how in strategic partnership with AMI
Turkiye: New board of insurance regulator sets out work goals
UAE: DIFC Courts pronounce landmark decision for regional insurance market
UAE: Insurers ready to offer health cover for more UAE Golden Visa holders
Global
Global reinsurance capital down, profits and solvency up at 1H2022
Worldwide commercial lines direct premiums to exceed $1tn in 2022
Global: The reinsurance market has reached 'a tipping point'
Global: Insurance sector outlooks at risk from inflation, rising rates
Global: Rise in demand and prices expected to continue driven by increasing exposures and risk
Takaful
Oman: Restructuring of takaful company bears results
Palestine: Two new takaful operators to enter the market
Qatar: Local takaful companies post aggregate $31m in surpluses in 2021
Saudi Arabia: Walaa and SABB Takaful shareholders approve merger
Tunisia: Islamic bank gains control of takaful operator
UAE: Takaful Emarat board proposes $13.6m capital reduction
Climate change can impact recyclable energy sources too
Record-breaking heatwaves 'normal' by 2035
Cyber attack costs have risen by 80%
Corporate giants to view water pollution as financial risk
Discarded solar panels a toxic problem for landfills
Man-made crises add to Nat CAT burden
Financial support for fossil fuels doubled in 2021
Floods, heatwaves and landslides - top three concerns in Southeast Asia
As sea level rises, tax base goes down
Bahrain: bni launches 'pay-per-mile' insurance cover
Oman: Braxtone ties-up with NLG to provide roadside assistance service
Pakistan: Salaam-Takaful and Syngenta team up to cover farmers
UAE: Al Ain Ahlia Insurance launches 'School and Family Care Package'
UAE: Policybazaar.ae and Adamjee partner to offer heath plans for Pakistani nationals
People on the move
MARKET PROFILE - Kuwait
Buy Now
MARKET SPOTLIGHT - Morocco
Morocco’s mandatory social health insurance scheme is being reviewed to include workers such as artisans, taxi drivers and farmers. Insurers in the country will have to manage the migration of customers and the expansion may impact premium...
TRAINING AND DEVELOPMENT
Insurers in the MENA region are looking for talent that is well-versed in both technical and functional aspects of the business. They are also investing in training programmes and collaborating with educational institutions to support talent...
The jury is still out over whether InsurTech is still ‘a thing’ or whether its day came and went. Has it already been absorbed within the insurance sector to form a core part of the systems used by insurers on a daily basis? Or is there...
The first six months of the year marked an excellent start for the six Kuwait-listed insurers – achieving consecutive double-digit gains in both GWP and net profit during the first two quarters, backed by robust performance from the four...
The general insurance sector in Kuwait has managed to sustain its positive performance in 2021 through the first half of this year on the back of increased economic activity and is expected to continue doing well in the wake of increasing demand for...
Kuwait’s regulator has called on all insurance companies and related parties to regularise their status and renew licences. However, the additional requirements may prove too much for some insurers. Middle East Insurance Review spoke to law...
The recent financial performance of Morocco’s insurance industry shows that the market is back on its pre-crisis growth trajectory after a difficult period weighed down by the COVID-19 pandemic and its negative repercussions on economic...
The pandemic has shone a spotlight on event cancellation insurance. With the Middle East playing host to more and more events these days, ACE Gallagher’s Mr Simon Fisher talks about the many intricacies involved in providing the necessary...
Most Middle Eastern countries have started embracing digitalisation and over the last few years. The latest technologies like AI, analytics and robotic process automation have seen greater adoption, helping insurers reinvent their business model to...
Despite all efforts, insurance penetration in India has remained consistently low even after two decades of liberalising the industry. What is missing in the whole picture that could enable better penetration levels? Middle East Insurance Review...
The Singapore International Reinsurance Conference has always been able to welcome a diverse set of delegates but has struggled to reflect that diversity on the stage. Singapore Reinsurers’ Association’s Mr Marc Haushofer and Women in...
It was almost as if the reinsurance community had got together ahead of Les Rendez-vous de Septembre in Monte Carlo this year and agreed on the message that it was going to give to the market: Get ready for very substantial rate rises in the 1/1...
With penetration rates still very low the world over, takaful has much potential for growth. Fitch Ratings’ Mr Bashar Al-Natoor looks at some of the challenges that need to be overcome as well as factors that work in the sector’s favour.
The lack of local/regional talent continues to be a problem for the insurance industry. The Chartered Insurance Institute’s Ms Gaenor Jones gives us her thoughts on how the issue can be addressed.
Beyond the business side of things, the wave of digitalisation that swept through the insurance industry during the pandemic has also affected training and development. The Foundation for Insurance and Finance Education’s Mr Husain Al Ajmi...
Actuaries are very much in demand in the MENA region. We spoke to The Lebanese Association of Actuaries’ Ms Rita El-Sokhon to get her thoughts on the role of actuaries and what potential candidates can expect from the profession.
A total of 58 insurers, brokers, risk managers, service providers and industry leaders have emerged as the finalists for the 9th Middle East Insurance Industry Awards.
Representatives of Algeria’s insurance industry met officials of the Ministry of Finance in July on the need for reform of the sector, according to Algerian Union of Insurance and Reinsurance Companies (UAR) vice president and insurer Alliance...
The newly appointed chairman of the board of directors of the Financial Regulatory Authority (FRA), Dr Muhammad Farid, has issued a resolution setting out his terms of reference, as well as those of his deputies and assistants.
While the world moves away from coal and other fossil fuels and explores recyclable sources of energy like wind and solar, climate change may slow down the potential of these too in the coming years.
The record-breaking heatwave experienced across Europe in the summer of 2022 will be considered an ‘average’ summer by 2035.
The frequency and the cost of cyber attacks are rising for US businesses and the pandemic is continuing to have lasting effects on the cyber security landscape, according to the specialist insurer Hiscox.
Bahrain National Insurance (bni) has launched the first mileage-based motor insurance, called ‘bni Pay-Per-Mile’, in the kingdom.
National Life and General Insurance Company SAOG (NLG) has entered into a partnership with Bahrain’s Braxtone Group to offer motor roadside assistance (RSA) services for their motor insurance customers.
Syngenta Pakistan Limited has partnered with Salaam Takaful Limited to cover farmers against the impacts of climate change through a weather and parametric index-based crop insurance programme.