Kuwait’s bid to balance its revenue sources through the development of non-oil sectors, along with more stringent regulation of the insurance market, will have beneficial consequences for the nation’s insurers, according to research by Timetric.
Last week I undertook the first leg of my eating tour of the Middle East, or as I sold it to my employers, “covering the Middle East Insurance Forum in Bahrain”.
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.
Aria Assistance, the independent UK insurance and assistance company, has signed a strategic partnership for the delivery of assistance services with Africa/Middle East regional healthcare administration services and assistance provider, GlobeMed.
The Qatar stock exchange fell by 38.78 points, or 0.45%, to 8,564.84 on Sunday from the previous close of 8,603.62, but insurance stocks bucked the overall trend.
The outlook for reinsurance markets in the Gulf region remains positive, according to the third Gulf Cooperation Council Reinsurance Barometer published today.
Bahrain Kuwait Insurance Company has posted net profit of BD1.5m ($3.9m) for the quarter ended 30 June 2012 (2011: BD 2.6m).
The Securities and Exchange Commission of Pakistan has issued revised takaful rules for 2012 allowing conventional insurance companies to open takaful window operations.
Talanx subsidiary HDI-Gerling Industrie Versicherung AG is opening a branch in Bahrain.
Chartis, the property and casualty arm of American International Group, has increased its commercial property per-risk capacity to $1.5bn on a worldwide basis.
Having recently relocated from Qatar back to Dubai I had the unenviable task of sorting through the various insurance and risk related books and papers I accumulated over the years.
Insurers and reinsurers in the Middle East and North Africa region have shown resilience in the past year and continue to maintain secure ratings.
Standard & Poor's has put Bahrain, Egypt, Jordan, Oman, and Tunisia on negative outlook, indicating a one-in-three chance it will lower their soverign ratings.
Standard & Poor's has affirmed its 'AA' counterparty credit rating for the Kuwait-based Arab Investment and Export Credit Guarantee Corp.
United Healthcare International is to offer international insurance coverage to employers with staff in the Middle East through an alliance with Dubai-based Al Sagr National Insurance Co.
General insurer Zurich has appointed Hayden Seach as head of segment for Middle Market & Corporate, Middle East.
Property and casualty insurer Chartis is increasing its focus on kidnap and ransom as it relaunches the specialist product for the Middle East market.
Law firm Bin Shabib and Associates LLP has been elected to membership of global insurance lawyers group, Insuralex.
Zurich has signed an agreement to acquire 99.98% of Compagnie Libanaise D’Assurances SAL, a privately owned Lebanese insurer with branch operations in the United Arab Emirates (UAE), Kuwait and Oman.