Middle East
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.
Tough conditions for EMEA commercial markets, Marsh warns
Insurance rates for businesses with exposure to natural catastrophe and supply chain risks are expected to keep increasing in 2012 across Europe, the Middle East and Africa, according to a report published today by Marsh.
Ace recruits communications head from HSBC
Global reinsurer Ace has appointed Darragh Gray as director of communications and marketing for its Europe, Middle East and North Africa operations.
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.