Insurance as main driver of Algeria's economic development
Algeria is a prime example of a North African nation that has plenty of potential for the growth of insurance – both life and non-life. We caught up with Conseil National des Assurance’s Mr Laaziz Faid to discuss insurance regulatory...
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View from India - India's insurance regulatory framework overhauled
In recent months, there have been sweeping changes in IRDAI’s regulatory framework. These should usher in a fresh environment for the industry. Middle East Insurance Review spoke to law firm Cyril Amarchand Mangaldas’s Mr Indranath...
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Applying AI in insurance
According to experts, the application of AI in InsurTech can range from providing behaviour-based insurance products based on real-time data gathered to classifying claims and estimating claim amounts with greater accuracy.
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Accelerating InsurTech adoption in Saudi Arabia
Saudi Arabia has been witnessing a growing interest in InsurTech, with several companies emerging in the sector. Saudi Arabia’s regulatory frameworks pave the way for harnessing the power InsurTech in the region.
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Bringing innovation to takaful
Worldwide, takaful operators have been slow at innovation but things are about to change with several new-age players who are using technology and cutting-edge solutions to attract the masses. Ouch! is one such takaful company that is introducing...
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Improving takaful with preventative claims due diligence
Takaful performance in the GCC has been affected by rising claims and costs. Chedid Re’s Mr Wasim Alwani believes that fraudulent activities can be prevented with more emphasis on preventative due diligence, rather than reactive due diligence...
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Opportunities abound for Malaysian takaful
There is significant consumer demand for ethical and socially-responsible insurance solutions that will drive takaful adoption in Malaysia. Etiqa Insurance and Takaful’s Ms Janifer Queen spoke to Middle East Insurance Review about how the...
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Life (insurance) during wartime
To say that Lebanon has had a tough couple of decades would be an understatement. Once considered to be the financial capital of the Middle East, the ravages of history have taken their toll – relentlessly diminishing the size of the life...
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Lebanon's general insurers stay resilient despite market gloom
The political and economic situation in Lebanon continue to pose challenges but the non-life insurance industry remains active amid the tough environment, demonstrating resilience in adapting to conditions of instability. We spoke to Arope...
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Lebanon: New regulations needed for stability
Lebanon’s insurance industry is going through significant changes, such as exclusion of war risks since the outbreak of war, digitalisation and adoption of IFRS17. However, there have been no new regulations or reform to maintain stability. We...
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Slower growth for Tunisian insurers in 2023
Tunisia’s non-life insurers saw slower net premium growth in 2023 compared to 2022, as increased fraud attempts bite into their bottom line. We take a look at some factors that have impacted the market over the past year.
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Flooding in the Gulf highlights lack of risk mitigation
Claims are expected to stream in as the UAE was hit by its heaviest rainfall in more than 75 years. Flooding in the region has brought to light a lack of preparation and mitigation for such weather events.
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Wearables help health insurers deliver better
Wearables help users maintain a healthy lifestyle and health insurers bring down claims ratios. Several countries in the Middle East are now adopting smart healthcare technology solutions.
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Data in health insurance: An underutilised wealth
Access to granular data is essential to understand the health business and take appropriate decisions to improve its performance, say LINK’s Messrs Jihad Ghanem, Jens Sonnenschein, Imad Hamoush.

Morocco's parametric insurance payout sets stage for flood protection expansion
Morocco was rattled by a 7-magnitude earthquake in September 2023, leading to the formation of a parametric insurance pool facilitated by Gallagher Re MENA. Although the financial impact from the Morocco earthquake was said to be manageable, it...
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Revolutionising reinsurance
Work on continuing to grow the legacy of the Singapore International Reinsurance Conference as one of the world’s preeminent reinsurance events, with its 20th iteration later this year, has been going on for some months already. We caught up...

Middle East: AMAN UNION and ICISA collaborate to advance credit insurance initiatives
AMAN UNION and the International Credit Insurance & Surety Association (ICISA) announced a joint strategic collaboration aimed at fostering mutual cooperation and knowledge sharing in the realm of trade and investment insurance.
Algeria: Insurance sector to adhere to AML/CFT requirements
The Financial Intelligence Processing Unit (CTRF) of the Ministry of Finance has contacted financial institutions, including insurance companies and banks, about complying with regulations covering anti-money laundering and countering the financing...
Bahrain: Arig set to report premiums recovered from Saudi insurer as profit
Bahrain-based Arab Insurance Group (Arig) has announced that its appeal to recover amounts due from Saudi Arabian insurer, Al-Rajhi Company for Cooperative Insurance (Al Rajhi Takaful), has been successful in the final hearing before the Committee...

Marine heatwaves have significant impact on microorganisms
Prolonged warm oceanic waters are altering the marine microorganism communities that form the base of the marine food chain according to new research.
Businesses struggling with net-zero plans
Large businesses around the world are struggling with their net zero plans, with barriers including fears of unfair scrutiny of climate efforts and how to address supply chains emissions, according to a survey by the Carbon Trust.
Will 2024 be a turning point for geopolitical risks?
The potential for political instability presents a major risk for 2024, with pre-existing grievances tied to the rising cost-of-living, food and energy insecurity, falling real incomes and high levels of debt generating more frequent acts of...

AXA and Daman partner to launch a new international private medical insurance
AXA and UAE health insurer Daman have partnered to launch an international private medical insurance called Global Healthcare plan.
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UAE: HAYAH launches digital insurance product
HAYAH insurance company launched its first digital insurance solution in the UAE, enabling customers to obtain a policy within minutes online.
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BKIC launch online distance-based motor insurance
Bahrain Kuwait Insurance Company (BKIC) recently launched its first online distance-based motor insurance service.
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