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DWIC 2020 - Round-up

DWIC 2023: Spotlight on skills and talent
On the back of the DIFC’s Talent Week, a panel of experts discussed the skills gap and how to close it
DWIC 2023: Insurers are 'on the frontline' in the climate crisis
The insurance industry must “drive the pathway to net zero”, explained Dame Susan Rice in a fireside chat
DWIC 2022: View from the top
The insurance industry is failing to react quickly enough to the fast-evolving digital world around it.
DWIC 2022: Pandemic accelerates insurtech growth
The insurtech sector in the MENA region has enjoyed substantial growth over the past two years, in part driven by the global pandemic.
DWIC 2022: Why prevention is better than cure
It is time to take full advantage of the workplace transformation in health and wellbeing
DWIC 2022: Is AI the next ‘silent cyber’?
Re/insurers are blissfully unaware of their growing exposure to AI-related liabilities, warned Simmons & Simmons
DWIC 2022: SIAB offers region a “brilliant vehicle”
Oman Insurance gained approval to launch Syndicate 2880 last year on the Lloyd’s DIFC platform
DWIC 2022: Why takaful needs an overhaul
Inherent issues with the Takaful model continue to hinder the market’s development in the GCC
DWIC 2022: Cyber re/insurers limit exposure to ransomware
Ransomware continues to shape the cyber risk landscape, explained DWIC roundtable panellists
DWIC 2022: 800 delegates flock to conference
Arif Amiri, CEO of the DIFC Authority, officially launched the fifth Dubai World Insurance Congress 2022
Gallagher launches fac business in the DIFC
Gallagher has taken a majority share of 51% of ACE Re Ltd (DIFC); Its team and clients will trade as Gallagher going forward
Middle East oil giant backs Ardonagh in multibillion valuation
Middle East oil giant Abu Dhabi Investment Authority (ADIA) has backed Ardonagh with fresh investment, giving the firm an enterprise value of $7.5bn (£5.6bn)
Kay International AMEA expands its operations to US to serve Latin America & Caribbean region
Kay International AMEA LLC has initiated business activities from its new office in Miami, Florida, after receiving its regulatory approval from the Florida Department of Financial Services to operate as a Reinsurance Underwriting Agency and Reinsurance Intermediary.
Aon launches Saudi reinsurance arm
Aon has established a new reinsurance broking division in Saudi Arabia after securing a licence from the country’s central bank.
DIFC Insurance community expands with Gen Re establishing Middle East presence in the centre
Second insurer owned by Berkshire Hathaway Inc. to expand its presence in the region; strengthens DIFC’s position as a centre of excellence for insurance and reinsurance locally and globally
QIC Group nine-month net profit jumps 491% to QR511m
Qatar Insurance Company (QIC), has reported a net profit of QR511m for the first nine months of this year witnessing a 491 percent rise compared to the same period in 2020.
Leaders from World Alliance of International Financial Centers convene in Dubai for the first time at DIFC
Arif Amiri, CEO of DIFC Authority, commented: “DIFC is delighted to be hosting the World Alliance of International Financial Centers’ Annual General Meeting. It is the first time leaders from financial centers across the globe have chosen to convene in Dubai.
Reuters: Tension over Beirut blast probe nudges Lebanon into new crisis
More than a year since the explosion ripped through Beirut, killing more than 200 people, Judge Tarek Bitar’s efforts to hold senior officials to account for suspected negligence are facing mounting political pushback.
Oman Insurance Company receives “in principle” approval for first Lloyd’s SIAB in the GCC
Andrew Woodward, regional head of Lloyd’s Dubai said: “We have enjoyed working closely with the OIC team to deliver this exceptional result and we are proud to have the first SIAB in this region.”
Willis Re launches flood model for MENA region
Currently, the model covers Morocco, the United Arab Emirates, and the Kingdom of Saudi Arabia, with further releases for Oman, Qatar, and Egypt in the third and fourth quarters of 2021.

DWIC Honours: The winners

DWIC 2023: Caught out by the hard market
A DWIC roundtable on underwriting discussed the impact of hardening reinsurance rates and new technology
DWIC 2023: Health insurance space fit and well
COVID-driven awareness, population shifts and technological enhancements keeping health insurance market optimistic
DWIC 2023: Middle East facing unique catastrophe challenge
Gas and oil activity linked to increased earthquake risk across the region
DWIC 2023: Takaful must rebrand itself as the ethical choice for all
Collaboration between takaful providers is essential if the niche industry is to achieve its potential
DIFC’s Alya Al Zarouni opens Dubai World Insurance Congress 2023
This year’s Congress is the largest event of its kind in the region, welcoming over 1,100 insurance leaders to the UAE
‘Be part of climate conversation,’ DWIC 2023 delegates urged
With COP28 heading to the city in November, this year’s DWIC opened with a rallying cry for the industry to focus on the climate
DWIC 2023: Plenty of cause for industry optimism
Despite choppy environmental, economic and geopolitical conditions, there are green shoots of opportunities for the industry
DWIC 2023: Time for emerging markets to shine
A dearth of cheap and plentiful reinsurance capacity could force emerging insurance markets to mature more rapidly
GCC markets retain stable outlook amid challenging headwinds
The rising cost of reinsurance, competitive pressures and growing impact of nat cat losses remain a challenge – AM Best
GCC insurers benefit from strong premium growth
S&P expects a modest uptick in earnings if insurers continue to reprice underperforming business
DWIC Honours: The CEO’s CEO Award
This award is voted for by CEOs. We ask them to choose their ‘first among equals’, to select the CEO whom they most admire in the region
DWIC Honours: MENA Lifetime Achievement Award
This award is given to someone who has made a real difference to the insurance industry in the MENA region over the course of a long and distinguished career
DWIC Honours: Young Insurance Professional of the Year
This award is given to an up and coming star of the industry who is making a difference to their business despite being at the start of their insurance career
DWIC Honours: Risk Manager of the Year
This award is given to the risk manager that has done the most to outshine their peers and make a difference in their business
DWIC Honours: Risk Management Solution of the Year
This award recognises excellence in risk management and is awarded to a company that has effectively mitigated against the ‘showstopper’ risks facing its board
DWIC Honours: Product and Service Innovation of the Year
This award recognises excellence in innovation and is awarded to a company that has intelligently leveraged its relationships with distribution partners
DWIC Honours: Digital Insurance Innovation of the Year
This award recognises excellence in digital innovation, with the winner delivering a win-win solution for insurers and their clients

DWIC HONOURS: THE WINNERS

DWIC 2023: Caught out by the hard market
A DWIC roundtable on underwriting discussed the impact of hardening reinsurance rates and new technology
DWIC 2023: Health insurance space fit and well
COVID-driven awareness, population shifts and technological enhancements keeping health insurance market optimistic
DWIC 2023: Middle East facing unique catastrophe challenge
Gas and oil activity linked to increased earthquake risk across the region
DWIC 2023: Takaful must rebrand itself as the ethical choice for all
Collaboration between takaful providers is essential if the niche industry is to achieve its potential
DIFC’s Alya Al Zarouni opens Dubai World Insurance Congress 2023
This year’s Congress is the largest event of its kind in the region, welcoming over 1,100 insurance leaders to the UAE
‘Be part of climate conversation,’ DWIC 2023 delegates urged
With COP28 heading to the city in November, this year’s DWIC opened with a rallying cry for the industry to focus on the climate
DWIC 2023: Plenty of cause for industry optimism
Despite choppy environmental, economic and geopolitical conditions, there are green shoots of opportunities for the industry
DWIC 2023: Time for emerging markets to shine
A dearth of cheap and plentiful reinsurance capacity could force emerging insurance markets to mature more rapidly
GCC markets retain stable outlook amid challenging headwinds
The rising cost of reinsurance, competitive pressures and growing impact of nat cat losses remain a challenge – AM Best
GCC insurers benefit from strong premium growth
S&P expects a modest uptick in earnings if insurers continue to reprice underperforming business
DWIC Honours: The CEO’s CEO Award
This award is voted for by CEOs. We ask them to choose their ‘first among equals’, to select the CEO whom they most admire in the region