Dubai World Insurance Congress
Tysers, a Lloyd’s broker, is expanding its presence in Dubai to meet the growing demand for insurance expertise in the Middle East.
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.
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 ...
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.
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.
Losses: ‘The national economy continues to bleed every time we are impacted by a natural disaster’
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.
It has become the first Chinese insurer to operate in the Dubai International Financial Centre
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.
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.
Analysts said the Saudi insurance market is set to witness consolidation with mergers and acquisitions (M&A) gaining pace during 2021.
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.
With a renowned international profile and wide marketing network, Mr. Albaharna has more than 34 years of in-depth experience in the reinsurance industry.
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.
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.
This special report, in partnership with the Dubai International Financial Centre, includes the highlights a roundtable debate hosted virtually by Global Reinsurance in October 2020 and the results of research conducted during September 2020.
The under review with developing implications status reflects AM Best’s uncertainty over the group’s post-acquisition risk-adjusted capitalisation, leverage and liquidity.
The 2020 renewal season has been a sombre affair on many fronts, not least because it has involved virtual negotiations in this new normal
This step comes in line with QIC Group’s consistent strategic approach that aims to focus on identifying local talent and empowering them to spearhead key developments within the QIC Group
Global Reinsurance spoke to Andrew Woodward to find out his ambitions for Lloyd’s in the Middle East, and how it can help the region’s insurance market thrive
The Dubai International Financial Centre is a hotbed for financial innovation, but what does the future hold for insurtech and the disruptors looking to shape the market?
Change is inevitable when it comes to the need for insurance to digitise, but how do you know where to start?
The first panel session of Day Two of the Dubai World Insurance Congress 2020 tackled the question: why don’t more customers choose Takaful?
With increases in medical costs easily outstripping inflation, what can be done to manage costs, increase affordability for all and build sustainable profits?
From water shortages to cyclones, climate change is having a big impact on the MENA region
With close to 600 delegates coming from across the MENA region and beyond, networking has been high on the to-do list, supported by a varied agenda driving debate on some of the hottest topics facing the industry
With a rapidly expanding population and some of the fastest growing economies in the world, Africa could be a rich seam for insurers who make the right move
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
The opening panel session of DWIC 2020 was asked to answer the question of when businesses in the MENA region will start buying cyber insurance, and the answer may surprise you
Consumer Intelligence chief executive Ian Hughes opens DWIC 2020 with a look at the consumer of the future, and what is driving change in the insurance industry over the next five years
Increasingly antiquated rules and a lack of innovation have lost Bahrain its early mover advantage in Middle East re/insurance, according to a report published this week by ratings firm AM Best
Insurance technology efforts should be about customer-driven outcomes, not just technology-driven solutions. GR and Charles Taylor InsureTech hosted a roundtable debate in Dubai to discuss how insurance firms can do better.
This year’s DWIC event featured a number of themes, including the need for product innovation, the rise of insurtech, pricing competition in health and motor markets, steps towards insurance penetration, progress for Takaful products, Dubai’s continued importance as the Middle East regional re/insurance hub, and reinsurers under continued pressure
David Benyon, editor, Global Reinsurance speaks with Andy Rogers, co-CEO of Amdaris and Adrian Sutherland, CTO, Jumar about how technology is transforming (re)insurance.
Insurers in Middle East markets talk about launching new products, but not enough innovation follows, JLT Re’s Russell Walters told GR
The Takaful and Re/Takaful sector has an image problem and general lack of awareness about what it can do, according to speakers at DWIC 2019
Panellists on the final MENA session from day one of DWIC 2019 talked about new product opportunities the region could see soon.
The health insurance market is struggling to keep up with demand, but a new trend has emerged, says Axa Global Healthcare’s Laurent Pochat-Cottilloux
Africa shows great growth potential, but it needs a push from insurers willing to take a chance
Fiscal pressure on governments could be one of re/insurance’s biggest opportunities, Willis Re International chairman James Vickers told DWIC 19 in Dubai
“Soft-hard” pricing after recent renewals leaves reinsurers under pressure, DWIC 2019 heard from a roundtable debate on the state of the market
Catch up with all the news from the Dubai World Insurance Congress 2019
Disruption to core catastrophe business is leading to a significant change in the global reinsurance market as reinsurers place greater emphasis on margin expansion in other lines of business, David Watson, chief executive international reinsurance at Axa XL told delegates at this year’s Dubai World Insurance Congress (DWIC).
Hedi Hachicha, Scor’s chief underwriting officer for property and casualty treaty business in the Middle East and Africa (MENA) talks new risks, construction demand, and effective regulation
After three years in relative hibernation, several energy construction projects loom for the UAE
Click through here to read the first day of GR’s coverage of the Dubai World Insurance Congress 2019
Fitch says the compulsory health insurance market is overcrowded and predicts the pressures on profitability will force out weaker players
2018 marked a second consecutive year of bumper profits for the UAE’s insurance market, according to an AM Best report
The insurance sector has a lot to do if it wants to close the protection gap in Middle East markets, according to James Vickers, chairman of Willis Re International
Compulsory lines are the only ones growing in the Middle East, causing commoditisation of products
Game-changing business opportunities are created, as well as risks, as companies continue to use technology to speed up information transfer, according to re/insurance broker Aon
Suppressed oil prices and government budget cuts have led to fewer insured risks, but GCC insurers are well capitalised, according to AM Best
Coverage from day one of this year’s Dubai World Insurance Congress
The two-day event, co-hosted by the Dubai International Financial Centre (DIFC), saw a global delegate contingent of nearly 600 network and gain insight
DWIC18 - Insurers must cut down AI strategies to less than 12-months to avoid implementation failure
Failures created by long-term strategies represent a point of no return, warns DataRobot’s Satadru Sengupta
But policyholders will need to watch out for wordings
The federal agency’s aerospace engineer Jeevan Perera provides a risk-focused perspective at this year’s DWIC
Speaking at Day Two of DWIC18, Scor’s Delayat announced the change of structure
One of the industry’s biggest advocates for digital changes talks about preparing for the tech revolution
With the first panel of DWIC18 day two focussing on the DIFC’s Fintech Hive, we take a look at what has been achieved
A breakdown of the key talking points from the DWIC 2018 AI panel on day one
Speaking with Global Reinsurance group publisher, Lloyd’s head of Middle East & Africa outlines the launch of a new Lloyd’s innovation lab
The Lloyd’s chief commercial officer told DWIC delegates that the ecosystem business model was the way forward
Ahead of his DWIC 2018 ‘Global View’ keynote, the Aon Benfield chief executive speaks to Global Reinsurance about seizing opportunities in the market
The DIFC Authority chief executive officer, speaker at this year’s Dubai World Insurance Congress (DWIC) 2018 event, talks innovation and insurtech in the MENA region
Griston talks to Global Reinsurance about getting into the psychology of groups of people who avoid using insurance
Leading voice within innovation Matteo Carbone speaks to delegates at DWIC
When disruptors use their tools to provide solutions
Tech provider says intuition still valuable in underwriting process
Projects such as Hyperloop creating new challenges for insurers, delegates told
Jaffery speaks to Global Reinsurance about innovation in the Middle East
DIFC Authority chief executive Arif Amiri cites a positive future for the Middle East
Speaking at the inaugural DWIC event, the cyber thought leader shared his opinion on the new technology
Chubb’s regional president shares report card on industry in DWIC regional keynote
Rise of new economies and technology are key factors shaping the insurance industry