Gallagher yesterday announced it is launching energy and power risk services for clients in the Middle East.
The Middle East market saw a mixture of healthy and poor performers, the latter mostly being driven by risk loss activity, an imbalance that is a concern for reinsurers, says Gallagher Re in its January 2023 "1st View Market Report" released on 1 January.
ESA Business School along with the Institute of Risk Management (IRM) and Corporate Risk Management Institute (CRMI) have introduced the Certificate in Risk Management for insurance and reinsurance professionals.
Some recent trends affecting the insurance industry in the Middle East include digitisation, re-imagining customer value, and sustainability and ESG, says professional services firm PwC Middle East.
More consolidation and M&A activity is expected in the regional insurance industry as regulators continue to tighten their supervision regime particularly around capitalisation and solvency requirements, says international professional services firm PwC Middle East.
CoverGo, a global no-code insurance SaaS platform for P&C, health, and life, is expanding to the Middle East after a $15m Series A funding, with a Middle Eastern insurance fund Noria Capital participating as one of the strategic investors.
More than half (52%) of Saudis in need of psychological care decide to overcome such illnesses by themselves instead of seeking professional care, according to Mr Bassem Albeladi, co-founder and CEO of Labayh, a comprehensive mental health app available in Saudi Arabia and the Arab region.
Marsh, the world's leading insurance broker and risk advisor, has announced the appointment of Mr Christos Adamantiadis as CEO, Continental Europe, effective 1 January 2023.
Capital market volatility, recessionary risks, and heightened inflation will pose a risk to EMEA insurers, while rising interest rates should support investment income, said S&P Global Ratings (S&P).
Chedid Re, a member of Chedid Capital Holding, has announced that its Paris office received a licence to conduct insurance and reinsurance brokerage activities in France, extending the network of Chedid Re Global Operations.