DWIC | MENA
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NewsDubai World Insurance Congress 2022: Building a ‘Hybrid’ event
Join us at the biggest ‘pre-scheduled business meet-up’ in the Middle East.
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News
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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News
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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News
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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News
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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News
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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News
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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News
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.
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News
AM 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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News
Flooding 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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News
Rokstone 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 ...
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News
Chinese 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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Alexander 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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Best’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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News
Saudi 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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Africa 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 & Opinion
Trust 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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News
National 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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News
UAE 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.
