The Saudi Arabian Monetary Agency (SAMA) has released a preliminary draft of regulations governing online insurance brokerage business, calling on the public and those interested to provide feedback on the proposed rules.
The Council of Cooperative Health Insurance (CCHI) has revealed details of a compulsory health insurance policy for tourists to the Kingdom. The maximum cover under the plan is SAR100,000 ($26,666) for a tourist.
The improved profitability and underwriting performance of Jeddah headquartered Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) has led Moody's to affirm the company's insurance financial strength rating (IFSR) of Aa3 for the 12th consecutive year.
Walaa Cooperative Insurance has signed a binding merger agreement with MetLife AIG ANB to buy the entire shares of the latter by offering a share swap without paying cash.
Health insurer Bupa Arabia has joined the MSCI Tadawul 30 Index, a joint tradeable index launched by the Saudi Stock Exchange (Tadawul) and MSCI to serve as the basis for exchange-traded funds (ETFs).
Najm for Insurance Services and SAS, the market leader in analytics and anti-fraud technologies, has signed an agreement to counter and reduce fraud in automobile and motor insurance claims.
Two talks are being held on mergers involving four insurance companies, but the discussions are still in the initial stages, Dr Fahd Al-Shathri, deputy governor of the Saudi Arabian Monetary Agency (SAMA), has said.
Morocco is one of only two countries with a plan to reduce its CO2 emissions to a level consistent with limiting warming to 1.5 degrees C, reported National Geographic quoting Climate Action Tracker (CAT) which is an independent scientific analysis produced by research organisations tracking climate action since 2009. The other country is Gambia.
Turkmenistan has become a member of the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), which is part of the stable of the Islamic Development Bank Group (IsDB). Turkmenistan is the 47th member country of the trade insurance group.
Saudi Arabia's primary insurers saw weaker profitability in the first half of this year amid intense competition, and there is increasing pressure for consolidation in the industry, Moody's Investors Service said in a report published yesterday.