January 17, 2021

Middle East Views

Middle East Views
Jordan Cabinet approves health plan implementation

Jordan: Ministry mulls universal health cover

Minister of Health Nathir Obeidat recently said that a proposal was currently being considered to introduce universal healthcare insurance in Jordan. The minister said that unified referral entity involving multiple stakeholders would be set up in this regard, managed by the ministry of Health, involving the Social Security Corporation. The proposal...

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AXA GCIC signs up with Policybazaar

AXA Green Crescent Insurance Company P.J.S.C. (GCIC) has formed a partnership with insurance comparison platform Policybazaar. With a focus on insurance inclusiveness customers in the UAE will be able to buy a comprehensive term life insurance plan directly via Policybazaar’s aggregator portal. Commenting on the partnership, Adel Benachour, head of...

ECI, SFD partner to boost export credit insurance

MoF signs up with K-SURE

The Ministry of Finance (MOF) of the Kingdom of Saudi Arabia, represented by the National Debt Management Center (NDMC), has executed the signing of a long-term financing agreement with the Korea Trade Insurance Corporation (K-SURE). The agreement was signed by the minister of Finance Mohammed Al-Jadaan (representing Saudi Arabia), and...

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Takaful Sukuk Offers OMR25 million Sukuk

The Capital Market Authority has approved the main prospectus of Mudharabah Sukuk of Sukuk Takaful LLC in favor of Takaful Oman Insurance SAOG for the offer of perpetual Sukuk Al Mudharabah at OMR25 million and the prospectus of the first issuance of the program for the offering of OMR6 million...

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GCC economic collaboration positive: S&P

S&P Global Ratings said in a recent report that Qatar and Saudi Arabia’s reopening of their airspace and sea and land borders in an effort to end a longstanding diplomatic dispute could have a positive effect on the business growth and investment returns of Qatari insurers in the medium term....

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CMA launches e-Tameen

The Capital Market Authority has introduced e-Tameen, a motor insurance price comparison platform that is smartphone enabled. The move comes as step toward digital transformation in the insurance sector to contribute to serving the various segments of insurance customers and the community through providing various motor insurance options easily and...

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ACAPS: Premiums reached MAD46.7 billion in 2019

Hassan Boubrik, president of the Insurance and Social Security Supervisory Authority (ACAPS) said recently in Rabat, that the turnover of Morocco’s insurance sector reached MAD46.7 billion in 2019. He was presenting the 2019 annual report of the Authority to the head of Government Saadeddine El Otmani. during which Boubrik presented...

ECI partners with export credit agency of India

Etihad Credit Insurance (ECI) has partnered with ECGC Limited (ECGC), the export credit agency of India, to explore and bolster the trade and economic cooperation between the UAE and India. In a Memorandum of Understanding (MoU) signed by Massimo Falcioni, CEO of ECI and M. Senthilnathan, chairman-cum-managing director of ECGC,...

Amana to reduce capital

Amana Cooperative Insurance Company has announced that the Board of Directors have recommended a decrease in the company’s capital from SAR240,000,000 to SAR130,000,000. The company will pursue a restructuring of the company’s capital to write-off part of the accumulated losses for an amount of SAR110,000,000. The executive management of the...

Gulf Union, Al Ahlia complete merger

Gulf Union Cooperative Insurance Company has announced approval to merge Al Ahlia Cooperative Insurance Company in Gulf Union, pursuant to which all of the assets and liabilities of Al Ahlia will be transferred to Gulf Union in consideration for Gulf Union issuing 7,947,464 ordinary shares with a nominal value of...

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