Middle East
Lockton Dubai is granted Lloyd's broker status
Lockton Middle East and North Africa has received Lloyd's broker registration.
Haymarket expands marine security in face of piracy threat
Haymarket Risk Management is expanding its maritime security division in response to the growing threat of piracy.
Arab Orient Insurance and Scor in medical insurance deal
Arab Orient Insurance Company has signed an agreement with French insurer Scor for the biggest medical reinsurance portfolio in Jordan.
Chartis re-jig creates three world regions
Chartis is splitting itself into three major geographic areas: the Americas; Asia; plus Europe, Middle East and Africa.
Arab Spring: Life during wartime
Continuing civil unrest in the Middle East and North Africa presents a challenge to the property insurance market — especially concerning the limits placed by the war risks exclusion.
Chartis re-jig creates three world regions
Chartis is splitting itself into three major geographic areas: the Americas; Asia; plus Europe, Middle East and Africa.
Coface predicts recession rate of 0.1% for Europe in 2012
Credit insurer Coface warned about the systemic nature of the Eurozone crisis at its annual country risk conference but does not expect a return to depths of the 2008-2009 crisis.
Iran's nuclear ambition heightens risk to investors
Country economic risk and currency incontrovertibility and transfer risk remain key concerns for Iran, according to JLT’s head of credit and political risk analysis, Elizabeth Stephens.
QBE expands Dubai capabilities
QBE has expanded its Dubai branch’s underwriting capability into general liability facultative reinsurance for Middle Eastern and North African clients.
South appointed CEO of Marsh Europe
Marsh has appointed Martin South to the newly-created position of chief executive officer of Marsh Europe.
Middle East Guest Blog: Firm Foundations
In earlier articles I have written that 2012 will be the year of reckoning following the 2008 financial crisis. Insurance is such that it takes time to unfold. Cyclicality is often blamed for the industry’s woes; and even more so in the Middle East…
Bin Shabib and Associates joins Insuralex
Law firm Bin Shabib and Associates LLP has been elected to membership of global insurance lawyers group, Insuralex.
Cyber threat poses huge global risks
Fiscal problems, global connectivity and demographic shifts pose the biggest risks in the next few years, according to the World Economic forum’s 2012 Global Risks report.
Rising medical costs behind potential 10% growth in Lebanese medical premiums
Medical insurance premiums in Lebanon will rise by 10% in 2012, according to projections by Lebanese insurance association, the ACAL.
Saudi insurers remain profitable despite low interest rates
Domestic insurers in the Kingdom of Saudi Arabia remain profitable despite increasing competition and the current low interest rate environment, according to a report by Standard and Poor’s.
Kane restructures as HSBC deal completes
Captive insurance manager Kane has completed a management restructure coinciding with the completion of the first phase of its integration of HSBC Insurance Management.
Kane reshuffles after HSBC buy
Independent captive insurer manager Kane has taken more cash from its private equity backer to open new offices and has promoted former Aon Global Insurance Management head Clive James to chief operating officer.
Eurozone financial services companies face challenging 2012
Solvency will remain a key challenge for Eurozone financial services companies throughout 2012, despite the positive action taken by the European central bank.
Oman Insurance Company appoints new senior management team
Oman Insurance Company has appointed a new senior management team.
Axa raises €2.5bn to invest in the European property market
French insurer Axa will invest up to €2.5bn in the development of green and brownfield sites and existing properties which require extensive redevelopment across the continent, to exploit the gap left by banks in the property lending market.
85% of Omani consumers want Islamic finance products
There is strong appetite among Omani consumers for Islamic finance with many keen to take it up as soon as it becomes available on the market, according to a study published by the Islamic Finance Advisory & Assurance Services.
Buckley Scott teams up with Middle East loss adjuster
Loss adjuster Buckley Scott has agreed a joint venture with Bahrain-based business Alan Henry.
MENA Insurance think tank welcomes three CEOs
MENA Insurance CEO Club has welcomed three industry veterans to its exclusive club, taking the total to 17.
AM Best warns of a reduction in ARIG's capital, but affirms rating
AM Best Europe has today affirmed the financial strength rating of B++ (Good) and issuer credit rating of “bbb+” of Arab Insurance Group. The outlook of both ratings remains stable.