The National Insurance Commission (NIC) has said that 98% of insurance entities in the country have met the minimum capital requirement that was announced in June 2019.
The UAE insurance sector continued to grow in 2022, with the number of licensed entities increasing by 5.53% to 553 in 2022 from 524 in 2021, according to the Central Bank of the UAE (CBUAE).
Traditional insurance brokers primarily focuses on securing insurance coverage for their clients, but the broker of the new age must be more than that, said Singapore Insurance Brokers' Association president Ng Leng Leng.
The general assembly of the Arab Insurance Brokers League has appointed a temporary board of directors, to deal with specific tasks and coordinate and organise the work of the association.
The 34th General Conference of the General Arab Insurance Federation (GAIF) is planned to take place from 18-21 February 2024 in Muscat, the Oman Insurance Association (OIA) has announced.
International insurance broker Howden Broking Group is working to establish a hub in Turkiye which will manage business in the Caucasus, Turkic republics and Commonwealth of Independent States countries, according to Mr Atinc Yilmaz, the group's regional CEO pf Turrkiye, Middle East and Africa.
Beijing-headquartered HSBC Insurance Brokers has applied to the CBIRC for a licence to sell mutual funds.
Gallagher yesterday launched a new insurance brokerage in Japan which will specialise in providing insurance solutions to both commercial clients and wholesale fac insurance to other brokers.
BMS Group, the independent specialist insurance and reinsurance broker, has entered into an agreement to acquire West Australian specialist broker Western United Financial Services (WUFS). The terms of the transaction have not been disclosed.