Shareholders of Gulf Insurance Group (GIG) have approved the board of directors' recommendation to distribute cash dividend of 23% (23 fils per share) for the financial year ended 31 December 2024, amounting to approximately KWD6.5m ($21.23m).
MENA InsureLab, the first dedicated InsurTech venture builder and accelerator in the Middle East and North Africa, has officially launched its operations with headquarters in Dubai.
The Tunisian Federation of Insurance Companies (FTUSA) has called on the General Arab Insurance Federation (GAIF) to study a proposal to extend the Orange Card's insurance coverage to include individuals, vehicles and road assistance services -- not just third-party liability coverage.
The need for insurance in the MENA region has never been stronger than it is today -- and that's why the insurance industry is attracting the best of the best at every level across the market.
Price Forbes Dubai has appointed Mr David Howells as senior executive officer, subject to regulatory approval.
The number of the inter-Arab vehicle insurance card, known as the Orange Card, is projected to reach 5m a year by 2030, said the secretary-general of the General Arab Insurance Federation (GAIF), Mr Chakib Abouzaid.
International speciality (re)insurance MGA, Rokstone DIFC, has appointed Mr Giles Hussey as senior executive officer, subject to regulatory approval.
Specialty MGA Africa & Middle East has appointed Ms Laila El Bahtouri as treaty senior underwriter and Mr Mohamed Bader Bouananir as senior underwriter for specialty lines.
AM Best has upgraded the Financial Strength Rating to 'B++' (Good) from 'B+' (Good) and the Long-Term Issuer Credit Rating to 'bbb' (Good) from 'bbb-' (Good) of Bahrain-based FAIR Oil & Energy Insurance Syndicate (FOEIS) with a 'Stable' credit rating outlook for both.
AM Best's ratings of (re)insurers in the Middle East and North Africa (MENA) have generally trended positively. This is despite challenging regional geopolitical conditions, says the global credit rating agency.