DWIC | MENA
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NewsDWIC 2022: View from the top
The insurance industry is failing to react quickly enough to the fast-evolving digital world around it.
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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.
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DWIC 2022: Why prevention is better than cure
It is time to take full advantage of the workplace transformation in health and wellbeing
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DWIC 2022: Is AI the next ‘silent cyber’?
Re/insurers are blissfully unaware of their growing exposure to AI-related liabilities, warned Simmons & Simmons
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DWIC 2022: SIAB offers region a “brilliant vehicle”
Oman Insurance gained approval to launch Syndicate 2880 last year on the Lloyd’s DIFC platform
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DWIC 2022: Why takaful needs an overhaul
Inherent issues with the Takaful model continue to hinder the market’s development in the GCC
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DWIC 2022: Cyber re/insurers limit exposure to ransomware
Ransomware continues to shape the cyber risk landscape, explained DWIC roundtable panellists
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DWIC 2022: 800 delegates flock to conference
Arif Amiri, CEO of the DIFC Authority, officially launched the fifth Dubai World Insurance Congress 2022
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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
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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)
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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.
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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.
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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
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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.
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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.
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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.
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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.”
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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.
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UAE: 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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Axa 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.
