Middle East
Qatar Insurance Q1 profit rises 2.1% to $59m
Middle Eastern insurer sees profits and underwriting income grow, but gross premiums fall in the first quarter of 2010.
Interview - Mike Webb: Computing the cloud crisis
The recent volcanic ash cloud has brought travel insurers such as Mondial Assistance under the microscope. Jonathan Swift talks to the firm's EMEA regional director Mike Webb about the impact of Eyjafjallajökull and why prices need to rise for a more…
BWS and Oxygen launch London market broker
Brokerage World Solutions and Oxygen have joined forces to launch a new London market intermediary.
UAE premium growth shifting away from commercial sectors – S&P
A ratings agency report on the United Arab Emirates shows insurance penetration in the region is still growing, with geographical distribution similar to previous years, premium growth has shifted to the personal/retail sectors from commercial sectors…
Munich Re takaful arm in talks with DIFC
Munich Re Retakaful is reported to be holding talks with the Dubai International Financial Centre to enter the UAE.
View from Top - Europe: Facing up to global litigation risks
Embracing the benefits of a global supplier network and access to customers around the world carries opportunities and risks alike. While the risks around the global supply chain are frequently discussed, the dangers in regards to product liabilities…
HSBC to be operate as MBL as Marsh completes broker deal
Marsh today completed its previously agreed acquisition of HSBC Insurance Brokers, a wholly owned subsidiary of HSBC Bank, in the UK and other key markets in Asia and the Middle East.
US puts further pressure on the UN for Iran sanctions
US President Barack Obama said on Tuesday he wanted tougher U.N. sanctions in weeks against Iran over its nuclear program. This follows proposed US sanctions including (re)insurance
Swiss Re appoints new UK boss
Russell Higginbotham has been appointed as head of client markets for Swiss Re in the UK & Ireland.
JLT raids Willis for Middle East aviation expansion
Chris Subba Row will be joining JLT Aerospace as a partner, based in the Middle East
Scor opens life branch in Israel
Scor Global Life has decided to establish a representative office in Tel Aviv for the Israeli life and health reinsurance market, which is estimated to represent around EUR 3.4bn in 2010, due to long-standing business relations in the Israeli Life…
Dubai crisis played down by reinsurers
There has been much speculation that the near-demise of Dubai World and the knock-on effects in the emirate are not as bad as feared for the industry, writes Katherine Blackler
New US sanctions on Iran put the industry on high alert
The US bill to expand the Iran Sanctions Act is being watched keenly by the (re)insurance world, reports Katherine Blackler
Hardy records 78.1% combined ratio
Hardy Underwriting Bermuda has reported profit before tax and foreign exchange movements of £26.7m (2008: £4.4m).
Interview: Stephen May - Cultivating Kane
Katherine Blackler talks to Stephen May, chief executive officer at Kane, about the high points of his career and why the Middle East is still an attractive area for (re)insurers
Russia to support Iran sanctions
Russian president Dmitry Medvedev has said that he still hopes to avoid new punitive measures, but added Russia could not wait forever for cooperation by Tehran.
Middle East - qualifications: An emerged market
Five years after establishing a Middle East base, Mark Greenwood details how the Chartered Insurance Institute is developing and delivering relevant qualifications in the local markets.
Middle East - Market Overview: Room for growth
While most in the insurance industry will not be looking to expand in the current global economy, Jane Bernstein points to an area where there are substantial opportunities for those willing to take the plunge.
Allianz will not renew business in Iran
Hannover Re also says that it conducts reinsurance treaty business in the region but will only continue to do so if it complies strictly with United Nations and European Union sanctions
Allianz will not renew business in Iran
Hannover Re also says that it conducts reinsurance treaty business in the region but will only continue to do so if it complies strictly with United Nations and European Union sanctions
Munich Re pulls out of Iran
Munich Re is stopping business with all insurance companies in Iran due to the political situation in the country.
Ace raids RBSI for travel boss
Ace European Group has appointed Chris Price to its newly created role of regional director of travel for Europe, Middle East and Africa from RBS Insurance.
Arig reports $21.9m profit
Profit in sharp comparison to loss of $28.6m in 2008, driven by the improvement in Arig’s reinsurance book and investment income.
Marsh sees trade credit rates increase up to 50% across Europe
Increases in financial institutions' insurance ranged from more than 40% to 50% in Turkey, to 10% in Switzerland and South Africa. In the UK and Ireland, increases ranged from 10% to 30%.