All DWIC articles – Page 2
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NewsDWIC 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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NewsDWIC 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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NewsDWIC 2022: Cyber re/insurers limit exposure to ransomware
Ransomware continues to shape the cyber risk landscape, explained DWIC roundtable panellists
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NewsGallagher 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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NewsMiddle 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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NewsKay 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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NewsAon 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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NewsDIFC 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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NewsQIC 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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NewsLeaders 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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NewsOman 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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NewsWillis 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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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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NewsBahrain Kuwait Insurance achieves 19.4% gross premium revenue growth
BKIC’s chief executive Dr Abdulla Sultan said: “The company’s consolidated results at the end of the first half of this year were encouraging even compared to the performance in the first half of last year. The company continues to become even more conservative in its provisioning, preparing for the evolution ...
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NewsSaudi Re posts 89% growth in H1-21 profits
Earnings per share increased to SAR 0.33 in the first half (H1) of 2021 from SAR 0.14 in H1-20, according to a bourse disclosure on Monday.
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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
