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United Arab Emirates tag returned 1242 results

  • UAE: Insurance industry shows resilience in 2024 despite weather-related losses

    2024 proved to be a pivotal year for the UAE insurance industry, showcasing its resilience in the face of unprecedented weather-related losses, according to international actuarial consulting firm Badri Management Consultancy.

    Middle East | 17 Feb 2025
  • UAE: Biggest insurer's net profit climbs by 15% to US$199m

    Orient Insurance, the leading UAE insurance provider and a subsidiary of the conglomerate Al-Futtaim, has announced that its net profit after tax increased by 15% to AED731m ($199m) in 2024, up from AED636m in 2023, according to the company's preliminary financial results for the year ended 31 December 2024.

    Middle East | 16 Feb 2025
  • Insurance market rates for P&C increased in 4Q2024 in UAE and Saudi Arabia

    According to a digital report published by Marsh, (re)insurers in the Middle East are "eager to expand their property portfolios".

    Middle East | 13 Feb 2025
  • UAE: Workers unemployment insurance made better

    The workers in the UAE now have only one option to renew their unemployment insurance cover. This cover can now be renewed for two years only. This two-year policy helps workers avoid lapses in missing out renewals and coverage. The only renewal option available is now for two years.

    Middle East | 10 Feb 2025
  • UAE: Insurer uses AI to eliminate medical exams in life insurance underwriting

    Dubai-headquartered Sukoon Insurance has launched a new AI-powered face-scanning feature for life insurance underwriting while onboarding new life insurance customers.

    Middle East | 10 Feb 2025
  • UAE: ADNIC posts record-breaking performance in 2024

    Abu Dhabi National Insurance Company (ADNIC), a leading multi-line insurance provider for both corporates and individuals, delivered exceptional results in 2024, achieving its highest-ever total insurance revenue and net profit. This performance is attributable to the company's regional expansion and several ambitious initiatives.

    Middle East | 09 Feb 2025
  • UAE: New rules for insurance premium payments

    Insurance customers in the United Arab Emirates will have to make payments directly to insurers instead of through brokers from 15 February 2025, when the new industry regulations are implemented, according to news site the Khaleej Times.

    Middle East | 06 Feb 2025
  • UAE's KYC blockchain platform registers first insurer

    The UAE's federal export credit company, Etihad Credit Insurance (ECI), has become the first insurer in the country to join the KYC blockchain platform. The initiative improves KYC compliance, customer data quality, and supports future growth of the network and is led by the Dubai Department of Economy and Tourism (DET).

    Middle East | 05 Feb 2025
  • UAE: Sukoon reports $73m in net profit in 2024

    Sukoon Insurance Company (Sukoon) achieved net profits after tax of around AED266.8m ($72.7m) in 2024, compared to AED257.4m in the preceding year, a growth of 3.6%. Profit before tax reached AED291.5m by the end of 2024, a growth of 13 % year-on year.

    Middle East | 05 Feb 2025
  • UAE: Market premiums register 21% hike in 2024

    In 2024, the UAE maintained its regional leadership in the financial sector and vital initiatives were introduced setting the stage for a brighter future ahead, said the Central Bank of the UAE (CBUAE) in a statement last week.

    Middle East | 03 Feb 2025