DWIC 2020 – Page 2
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NewsUAE: Lloyd’s broker expands office
Tysers, a Lloyd’s broker, is expanding its presence in Dubai to meet the growing demand for insurance expertise in the Middle East.
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NewsAxa sells insurance operations in Gulf region
Insurer Axa has today (7 September 2021) confirmed that it has completed the sale of its 50% shareholding in Axa Gulf and its 34% shareholding in Saudi Arabia-based Axa Cooperative Insurance Company to insurance firm Gulf Insurance Group, situated in Kuwait.
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NewsAM Best downgrades credit ratings of Arab Reinsurance Company SAL
In AM Best’s view, economic, political and financial system risk in Lebanon, which was already elevated, has continued to rise following the devastating explosion in the port of Beirut on Aug. 4, 2020, and the subsequent resignation of the government.
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NewsFlooding spurs new calls for National Disaster Fund & Insurance Pool in Oman
Losses: ‘The national economy continues to bleed every time we are impacted by a natural disaster’
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NewsRokstone receives cover holder licence to underwrite in Africa
Rokstone, the international speciality (re)insurance MGA, part of Aventum Group, has announced it has secured an Insurance Agent Licence from the Financial Services Commission in Mauritius (FSC) and is now fully authorised to underwrite business directly in Africa from its office in Mauritius. Brokers across Africa can now access world ...
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NewsChinese state-backed Sinosure opens regional office in Dubai
It has become the first Chinese insurer to operate in the Dubai International Financial Centre
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NewsAlexander Forbes open for deals after insurance sale to Sanlam
The South African retirement and investment adviser is boosting its surplus capital and selling its risk and retail business operations - which had insurance premium income of R1 billion at the end of March - to Sanlam.
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NewsBest’s Market Segment Report: Hardening market and regulatory developments in the GCC drive interest in Captive Insurers
A wider gamut of companies is now investigating self-insurance solutions in response to hardening rates in the international commercial insurance and reinsurance markets. Additionally, companies in the region are becoming increasingly sophisticated in their risk management.
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NewsSaudi insurance sector eyes more mergers and acquisitions
Analysts said the Saudi insurance market is set to witness consolidation with mergers and acquisitions (M&A) gaining pace during 2021.
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NewsAfrica Specialty Risks Continues Growth With Launch Of Parametric Underwriting Division
Africa Specialty Risks (“ASR”) is pleased to announce the launch of its parametric division, alongside the appointment of Dr Raveem Ismail as Head of Parametric Underwriting and Ian Bishop as Parametric Product Manager.
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People & OpinionTrust Re Appoints Yassir Albaharna as Chief Executive Officer
With a renowned international profile and wide marketing network, Mr. Albaharna has more than 34 years of in-depth experience in the reinsurance industry.
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NewsNational General Insurance deserves premium it got from Dubai Investments
The star of the UAE stock market last week was Dubai’s National General Insurance, which rallied 14.88 per cent on Wednesday. The gain came as Dubai Investments bought 21.5 per cent in it through the purchase of 32.89 million from Emirates NBD.
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NewsUAE and UK set to sign multibillion-pound clean energy and tech investment deals
Britain’s Office for Investments, an agency set up this year to promote and channel investments into the UK, expects to get more clarity on the size and scope of potential deals and how they will be structured by the end of June.
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NewsQIC Group net profit jumps 210% to QR205mn in Q1
Mena region’s leading insurer Qatar Insurance Company (QIC) reported robust results with a net profit of QR205mn for the first quarter of 2021 compared to a loss of QR186mn in Q1, 2020.
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NewsNew CEO of Dubai National Insurance & Reinsurance
With more than 25 years of experience in the government and private sectors, Al Nuaimi holds an EMBA degree in Leadership & Business Management from Wharton Business School of the University of Pennsylvania.
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NewsUAE’s Etihad Credit Insurance to prioritise saving jobs when extending trade finance
Etihad Credit Insurance will be issuing another 2,000 ‘revolving credit guarantees’ to UAE-based exporters this year, as part of its bid to revive business activity after the COVID-19 induced damage.
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NewsDubai’s DIFC records best performance in 2020, with fintech presence doubling
The Dubai International Financial Centre has just turned its best annual performance ever, with a 20 per cent increase in the number of licensed firms to total 2,919 companies.
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People & OpinionFarid Chedid appointed as Chairman and Group CEO of Ascoma
The move comes in line with Chedid Capital and ASCOMA’s acquisition deal whereby the former acquired 80% of ASCOMA’s insurance brokerage business in Africa in a deal signed on this day.
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NewsUAE’s Oman Insurance records its best net income in 5 years, at Dh196.5m
For OIC, a focus on “risks having the right pricing” and “non-compromise” on cash collection paid off. Another gain was made on cost control, with general and admin expenses dropping Dh8 million to Dh282.8 million.
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NewsQIC Group reports QR12.2bn gross written premiums in 2020
Doha: Qatar Insurance Group’s, the leading insurer in the MENA region, gross written premiums for the year have remained stable at QR12.20bn, compared to QR12.06bn for 2019. The Group yesterday announced its financial results for 2020.
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