Middle East
Three bids for major Turkish insurance business
Allianz, Dai-ichi Life and Zurich are in the process of making bids for Yapi Kredi Sigorta, the insurance arm of Yapi Kredi Bank in Turkey, according to senior banking sources.
Bahrain a "gateway" to Gulf region
A failure to aggressively market itself has hindered Bahrain’s growth as a global insurance sector, according to Kamal bin Ahmed Mohammed, head of the country’s economic development board.
Bahrain woos international players with new takaful model
Bahrain’s insurance regulator hopes new regulations will make Bahrain the jurisdiction of choice for takaful and retakaful globally.
Kennedys partners relocate to Dubai
Two UK-based partners from law firm Kennedys have relocated to the firm’s Dubai office amid growing demand for insurance related services in the Middle East.
Insurance CEOs upbeat about Asia and the Middle East, says PWC
The majority of insurance CEOs think their businesses are going to grow over the next few years according to PWC 16th annual global CEO survey.
AIG appoints EMEA commercial president
Emmanuel Brulé has been appointed president of commercial Insurance, EMEA, at American International Group.
Takaful not confined to "bread and butter" lines
The retakaful industry is no longer plagued by the lack of capacity it was in its early years, according to Mahomed Akoob.
Middle East Insurance Forum: Diversified distribution essential for Middle East insurers
Insurers in the Middle East need to diversify their distribution networks in response to changing consumer behaviour, according to industry specialists at the Middle East Insurance Forum.
Middle East Insurance Forum: Talent remains a challenge for growing GCC insurance industry
The Middle East can learn lessons from more mature insurance markets but needs to focus on strengthening its domestic talent pool, according to Enrico Bertagna.
Report reveals 35% rise in countries experiencing political violence
The has been a 35% rise in the number of countries experiencing escalating political violence, according to broker Marsh.
Lonmar hires Balchin to grow international marine account
Independent Lloyd’s broker Lonmar Global Risks has appointed marine cargo specialist Ian Balchin to help develop its international cargo account.
Microinsurance to reach 1 billion by 2020
The number of low income people covered by microinsurance is expected to hit one billion by the end of the decade, according to the Luxembourg-based Microinsurance Network.
AIG secures HSBC distribution rights in Turkey and France for $55m
American International Group signed a 10-year bancassurance deal with HSBC Group, which see it become the exclusive provider of non-life insurance products to HSBC customers in Turkey and France.
Weak economy to hurt commercial lines more than personal, says Moody's
The outlook for property & casualty insurers is stable in 2013, despite macroeconomic conditions, Moody's said today.
Outlook for global reinsurers stable but pricing to stagnate, says Fitch
The outlook for the global reinsurance sector remains stable, as capital, underwriting and operating trends are expected to support reinsurers' ratings over the next one to two years, according to Fitch.
Insured losses 36% above 10-year-average in 2012
Natural catastrophes globally caused total economic losses of £200bn in 2012, only slightly above the 10-year-average of $187bn.
Ace reshuffles EMEA claims team
Ace Group has reshuffled its accident and health team for Europe, the Middle East and Africa.
Insurers should have been prepared for 2011 cat losses, says AIR
Insured losses in 2011 from global natural catastrophes exceeded $110bn, according to industry sources, the second highest figure ever recorded.
Blog: Extra-terrestrial threat
In the wake of the World Economic Forum’s Global Risks report many have focused on the impact of climate change, digital wildfires, drug resistant diseases...
S&P warns of "mounting pressure" on global insurers
The credit quality of global multi-line insurers is generally sound, despite a downward trend over the past four years, Standard and Poor's said today.
Legal forecasts: Predictions for the UAE, US and Germany for 2013
In the first of a two-part series Insurance Insight asked members of Insuralex, the global group of specialist insurance and reinsurance lawyers, to highlight their thoughts and predictions for the new year.
Heightened terrorism risk in Turkey following activist killing
The recent killing of a leading PKK activist indicates increasing terrorism risks to state and security assets in Turkey, including in Istanbul, according to a new report by Exclusive Analysis.
UAE insurers baulk at medical tariff rise
A standoff between insurers and one of the largest healthcare groups in the UAE may leave patients footing the bill for medical care from next month.
Interconnectivity of environmental and economic risks is major threat
Environmental and economic risks are on a collision course as cash strapped governments struggle to cope with the increasing economic burden from natural catastrophes, according to the World Economic Forum.