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GCC tag returned 108 results

  • GCC: Economic growth expected at 2% this year with positive outlook

    The economic outlook for the Gulf Cooperation Council (GCC) countries remains positive as governments are taking the lead to boost economic growth and improve consumer and investor sentiments despite challenging times, according to Dr Hussain Abusaaq, chief economist and head of research at KPMG in Saudi Arabia.

    Middle East | 13 Aug 2019
  • GCC: IFSB says takaful firms are realigning strategies

    Prospects for growth in the takaful sector in the GCC remain positive, as takaful operators are realigning their strategic focus towards meeting the needs of the market, says the "Islamic Financial Services Industry Stability Report 2019" released last week by Kuala Lumpur-based Islamic Financial Services Board (IFSB).

    Middle East | 06 Aug 2019
  • GCC: 9 in 10 Saudi insurers will need to pump in capital, merge or wind up

    Almost 90% of insurers currently operating in Saudi Arabia will have to raise new capital, consolidate through mergers and acquisitions, or exit the market entirely, when the regulatory authorities raise minimum capital requirements, S&P Global Ratings says.

    Middle East | 17 Jul 2019
  • GCC: Economies, though resilient, need to accelerate transformation

    The combination of significant reserves of liquid assets and low debt levels can finance the local governments' ambitious economic transformation programmes, thereby creating a plethora of opportunities for most sectors of the economy, says the international management consulting firm Oliver Wyman.

    Middle East | 04 Jul 2019
  • Bahrain: Insurance market grows by 6% in 2018

    Insurance premiums in Bahrain grew by 6% to BHD284m ($754m) in 2018, compared to 2017, due to key factors like economic growth, population expansion, as well as increasing life expectancy, a top regulatory official has said.

    Middle East | 18 Jun 2019
  • Bahrain: Trust Insurance Management launches new cyber products

    Trust Insurance Management (TIM) has announced the launch of new cyber products. The company has concluded a coverholder agreement to underwrite the cyber insurance products in cooperation with and utilising the experience, expertise and capacity of the Tarian Consortium 9633 (a pool of Lloyd's syndicates led by Beat Syndicate 4242).

    Middle East | 17 Jun 2019
  • GCC: Bancassurance holds huge potential, supported by regulation

    Regulators need to find a balance between regulatory oversight set against a developing insurance distribution market, says Dubai-headquartered law firm BSA Ahmad Bin Hezeem & Associates in its outline of regulations in the region covering bancassurance.

    Middle East | 30 May 2019
  • Saudi Arabia: Local insurers among biggest fallers following tanker attacks

    Saudi stocks suffered their biggest single-day decline since last October on Monday following the tanker attacks off the coast of the UAE, according to media reports. Saudi Arabia's index declined 3.6%. Other Gulf markets were also in the red with Dubai index plunging 2.8% and Abu Dhabi index falling by 2.5%.

    Middle East | 15 May 2019
  • Qatar: Pioneer Islamic bank launches takaful product for low-income workers

    Qatar Islamic Bank (QIB) has launched a new takaful product targeted at low-income workers as part of the bank's efforts in offering products and services tailored to the needs of the state's entire population.

    Middle East | 15 May 2019
  • UAE: Leading takaful operator achieves 37% increase in combined net profit for 1Q2019

    Abu Dhabi National Takaful Company (ADNTC) has posted strong results for the first quarter of 2019, achieving a 37% increase in net profit amounting to AED36.7m (for policyholders & shareholders before qard hasan provision) compared to AED26.9m in the corresponding period of 2018.

    Middle East | 15 May 2019