July 28, 2021

Features

Features
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IFRS 17 and the Takaful Model

Rais Kazmi and Omer Mehmood delve into the specificity of IFRS 17 implementation for takaful. Takaful, also referred to as Shari’ah Insurance, is compliant with Islamic principles and is quite popular within the Middle East and South-East Asia region. Global Takaful business has a market capitalisation of around USD24[1] billion...

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Takaful: Support for Success

A series of panel discussions organised by the General Arab Insurance Federation discussed the challenges hindering success for takaful and the opportunities that were available. The General Arab Insurance Federation (GAIF) recently held a virtual event that centred around general takaful, family takaful and retakaful. Held over a series of...

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TCI Soars with Government Support

Trade credit insurers have weathered the COVID-19 pandemic much better than expected, helped by unprecedented government support for the economy, according to AM Best’s latest report. Being cyclical in nature, trade credit insurance has a strong correlation between economic crises and increases in insolvency rates and trade credit losses. Therefore,...

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Risk Landscape: What Lies Ahead?

Swiss Re’s 2021 Sonar report identifies new emerging risks that have risen from the many actions taken to mitigate the pandemic. As the COVID-19 crisis continues to gain prominence in the lives of numerous people across the world, Swiss Re’s SONAR 2021: New Emerging Risks Insights has identified the various threats that will...

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‘Act Now for Climate Change’

The public and private sectors, including insurers as providers of risk transfer capacity, risk knowledge and long-term investment, can facilitate transition to a low-carbon economy, according to Swiss Re’s latest report. Many emerging markets have most to gain if the world is able to rein in temperature gains. For example,...

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The New Insurance Environment

Insurers and brokers who anticipate and plan for change can shape their own future, writes Ramzi Ghurani. What a difference a year can make. The COVID-19 pandemic and the resulting economic fallout have radically shifted personal and professional needs, expectations, and habits. In the wake and disruptions caused by the...

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Channeling Innovation

AM Best looks at unique challenges and opportunities for innovation in the regional insurance industry in a pandemic environment. While the pandemic is still prevalent in the world, insurers have been hastening their innovation initiatives to operate successfully in the new working environment. According to AM Best, underlying principles of...

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A Big Step Forward

Roger Phillips examines the draft of the new insurance regulations passed in Kuwait. The insurance market in Kuwait has seen a continuing increase in the numbers of licensed participants. Although a small number of insurers dominate the market, there are many smaller companies competing with each other on price which...

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Surviving in the New Market

In the face of new regulations, a pandemic, and the influx of technological push by insurers, how is the aggregator surviving? Sandhya Divakaran speaks to a few players in the market. In April 2021, the region marked one year after the lockdown and the extenuating circumstances that made it difficult...

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GCC insurance: Profits to remain in 2021

Premium growth and earnings of insurers will be under more pressure in 2021 than in 2020, due to high competition and ongoing stress albeit being stable, observes Emir Mujkic. The COVID-19 pandemic dominated the headlines in 2020 and will continue to do so during most of 2021 but the rollout...

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