Middle East
AM Best gets green light for Dubai branch
Ratings agency AM Best is to open an office in the Dubai International Financial Centre in Dubai, UAE, after receiving the necessary regulatory and legal approval.
Emerging markets present growth opportunities for energy firms
Despite geo-political turmoil, many economies now present increased growth opportunities for global energy companies due to decreasing political risk and improvements in legal and regulatory environments, according to risk analysis company Maplecroft.
QBE merges casualty, professional and financial lines
Business insurance specialist QBE is combining its casualty international and professional and financial lines teams to form a new division, from 27 February 2012.
William Russell launches global plans in Abu Dhabi
International expatriate insurance specialist William Russell has opened its global health, life and income protection insurance plans to businesses in Abu Dhabi.
Willis Re promotes Melia to CEO Willis Re International
Willis Re has appointed Tony Melia as chief executive officer of Willis Re International.
Middle East guest blog: Consumer protection my foot
The insurance broking fraternity in the United Arab Emirates met on 9 February to discuss how, through concerted effort, they can enter into a meaningful dialogue with the UAE Insurance Authority to reverse the recently released, notorious Directive 2.
Countdown to EIS: Q&A with panel member Jose Manuel Dias da Fonseca
Josè Manuel Dias da Fonseca is chairman of Brokers Link and president of MDS Portugal and Brazil and will be taking part in a panel debate on the varying role of the broker across Europe at Insurance Strategy Europe taking place in Brussels on Wednesday…
Market moves: All change in the boardroom
Underwriters were the most active recruiters this week, with Ace leading the way with two major appointments. Meanwhile, Brit, Lloyd’s Channel Syndicate and Whittington Capital Management also added to their ranks. While the broking space was relatively…
Arab Spring uprisings remain a 'key concern' for CEOs
Social tensions and public protests in counties affected by the Arab Spring remains a “key concern” for businesses operating within the nations impacted by the popular uprising, according to Aon’s 2012 political risk map.
Arab Spring aftermath threatens businesses in the region
Protests and tensions in countries affected by the Arab Spring remain a concern for businesses operating in those nations, according to Aon’s 2012 Political Risk Map released today.
Growth creates paradigm shift for energy risk
The rapid evolution of the global hydrocarbon industry is creating a seismic change in the risk landscape for energy businesses, according to a report released by Marsh at its National Oil Companies conference in Dubai.
Marsh warns oil firms of risk changes
Broker Marsh has warned that the rapid evolution of the global hydrocarbon industry is creating a “seismic change” in the risk landscape for energy businesses.
Charles Taylor appoints Dubai-based energy adjuster
Charles Taylor adjusting has recruited Robert Sands as energy adjuster in Dubai.
Energy business warned to learn from past losses
Energy businesses need to learn from past major loss events in order to reduce the risk of significant property damage losses, broker Marsh has warned.
Oil companies need to embrace risk management
Global oil companies have inconsistent and insufficient risk strategies arising from their approach to governance and controls, according to a report released at Marsh’s oil company's conference in Dubai.
Ace names head of A&H EMEA
Ace has appointed Craig Parfitt to head up the analytics and management information team for the accident and health business in Europe, the Middle East and Africa.
Ace appoints international accident and health team head
Ace has appointed Craig Parfitt to head up the analytics and management information team for its accident and health business in Europe, the Middle East and Africa.
Doha Insurance reports 9% net profit rise
Doha Insurance Company (DIC) has seen its net profit rise 9% to Q65.85mn, and has recommended 30% bonus shares to shareholders.
Qatar and Luxembourg continue financial services cooperation
Qatar Financial Centre Authority and Luxembourg for Finance, the agency for that promotes Luxembourg as a financial centre, held a joint seminar today as part of the continued cooperation between the two countries in financial services.
Global tanker fleet hit by EU oil sanctions
New European Union sanctions on Iranian oil will impact around 95% of the global tanker fleet, including those operated by a major Bermuda shipping company, because they are insured under rules governed by European law.
Lone ranger Northcourt to provide capacity for growing nuclear risk
A coverholder which claims to be the first conventional insurer to bring capacity to the market that is not a mutual or part of a pool is to take advantage of growing demand from the eastern bloc.
Mergers & Acquisitions: Bucking the trend
As the market weighs up the value of assets such as Groupama and Brit’s UK arms, deal making by insurers appears to be buoyant, especially when compared to other industry sectors. But is this a trend that is set to continue?
Indian Government launches new insurance scheme for overseas workers
The Indian government has unveiled a new pension and life insurance scheme that would benefit over 5 million of the country’s unskilled and semi-skilled workers employed overseas.
Tougher EMEA commercial insurance market conditions expected in 2012
Insurance rates for businesses with exposure to natural catastrophe risks and supply chain perils are expected to continue increasing in 2012 across Europe, the Middle East and Africa, according to a Marsh report.