Etihad Credit Insurance (ECI) has signed a Memorandum of Understanding (MoU) with the Jordan Loan Guarantee Corporation (JLGC) to explore, develop and strengthen the trade relationship between the Kingdom of Jordan and the UAE on the basis of equality, mutual benefit, respect and trust. This partnership will enable the two...
Walaa Cooperative Insurance Company (Walaa) announced the signing of a non-binding Memorandum of Understanding with MetLife AIG ANB Cooperative Insurance Company to evaluate a potential merger between the two companies. Both companies will conduct technical, financial, legal and actuarial due diligence and engage in non-binding discussions on the terms and...
The InsurByte Conference 2019 was attended by over 300 delegates from various industries. Held under the patronage of the Central Bank of Bahrain (CBB), organised by the Bahrain FinTech Bay (BFB), in partnership with the Bahrain Institute of Banking and Finance (BIBF), the Bahrain Insurance Association (BIA), and FinTech Consortium, the...
Warba Insurance has increased its stake in Wapmed TPA Services to from 54.57 percent to 82.57 percent by buying 1.96 million shares in consideration of KWD196,000 (USD645.67). The transaction was concluded under the supervision of Boursa Kuwait and Kuwait Clearing Company, according to a statement provided to Mubasher. The company has stated that the...
In a recent report titled, “Jordan Insurance Ratings: Benchmarking,” ratings agency AM Best notes that despite the Jordan insurance market showing reasonable growth rates in recent years, it is also facing a number of challenges such as pricing pressure on the core business segments, hindered operating performance in tariffed motor third-party liability...
Etihad Credit Insurance (ECI) has signed a reinsurance agreement with the Arab Investment and Export Credit Guarantee Corporation, Dhaman, to support the growth and expansion of the UAE businesses. This agreement will further enhance the inter-Arab trade and UAE exports globally, in line with the country’s non-oil diversification strategy and...
A Federal National Council (FNC) temporary committee responsible for assessing the General Pension and Social Security Authority’s, GPSSA, policy has concluded its discussions in its final report draft. During the meeting Salem Abdullah Al Shamsi, chairman of the Committee, said that the committee’s final report included several recommendations, which will...
The recent sabotage attacks of ships docked in UAE waters has led Britain’s insurers to widen the list of waters deemed as high risk. Recently the London insurance market’s Joint War Committee extended its list to include Oman, the United Arab Emirates and the Gulf. A statement by the Committee...
The Ministry of Commerce and Industry (MoCI) issued a decision mandating all insurance companies, insurance brokers among other companies to appoint Kuwait auditors effective January 1, 2020 to fight money laundering. Local media reported that the move is expected to generate nearly 16,000 job opportunities for Kuwaiti jobseekers in the...
The Capital Market Authority (CMA) has inaugurated the Health Insurance Diploma Program, which includes 21 employees of insurance companies and government agencies associated with the implementation of the health insurance project. The program ends in January as part of CMA’s ongoing efforts to empower Omani youth in the insurance sector...
