The London-headquartered Institute and Faculty of Actuaries (IFoA) is holding its inaugural Middle East Conference this month with two events - in Riyadh and Dubai.
The life sector in the Middle East and Pakistan is less well-developed than the non-life market, accounting for around a fifth of total premiums in the region, noted Swiss Re Institute (SRI).
Ongoing economic development and rapid urbanisation will result in further accumulation of infrastructure and private assets that need to be insured, including against natural catastrophe risks, says Swiss Re Institute (SRI).
Robust economic development and lines of compulsory insurance have been the main drivers of industry expansion in the region in recent years, says Swiss Re Institute (SRI).
Insurance rates in the first quarter of 2024 declined 2% in the IMEA region, where rates for large and complex organizations are often driven or influenced by the reinsurance market, according to the "Global Insurance Market Index" published by the world's biggest insurance broking group Marsh.
Severe weather has affected large portions of Southwestern Asia in recent days with the impacts reported in Afghanistan, Pakistan, Oman, the UAE, and elsewhere across the region, says Aon in its "Weekly Cat Report" for the week ended 19 April 2024.
The Israel-Hamas war is expected to continue over 2024, and Gaza will remain the epicentre, with continued pressure on Israel (AA-/Negative/A-1+) from Iran (unrated) and its proxies, according to S&P Global Ratings (S&P).
Global insurance broking group Howden has launched a new cargo war risk facility to protect vessels from drone and missile strikes by Yemeni-based militia groups in the Red Sea.
Iran's unprecedented military action against Israel raises the risk of a sharp escalation in the conflict between Israel and Hamas, indicates S&P Global Ratings (S&P).
International InsurTech bolttech yesterday announced its expansion into the Middle East with the launch of its partnership with Riyadh-headquartered stc Group, a leading telecommunications company that drives digital transformation in the region.