Following the announcement that Saudi Arabia will lift its longstanding ban on women drivers, there were very positive comments coming from car manufacturers and insurance companies. As more cars enter the market, insurance coverage will also start to kick in, covering motor vehicles but as well health, as these are...
Dubai-based price comparison website Souqalmal has pulled in some major investor interest to the tune of USD10 million (AED36.73 million). The new shareholders include GoCompare Group, which operates the UK comparison website GoCompare and is making this its first investment outside of its home market. It joins the UAE Exchange...
Oman’s insurance companies have achieved a three percent increase in gross direct premium at OMR134.7 million in the first three months of 2017, against OMR131 million for the same period of last year. According to a press release from Capital Market Authority (CMA), the Omani insurance market continued recording reasonable...
Market regulator, Capital Market Authority (CMA), announced that it would cancel licenses of some insurance companies, after their mergers as a part of its plan to issue fresh licenses for merged entities. ‘CMA would like to explain that the cancellations of the merged companies was a formality to grant the...
Mandatory health cover for nationals and expats working in the private sector will be enforced from early next year, the government has announced. Dr. Ahmed bin Mohammed bin Obaid Al Sa’eedi, minister of Health, said to the Times of Oman, that the new healthcare system would be rolled out from...
To make life insurance solutions conveniently available to people, the company recently launched online term insurance and critical illness plans – DigiTerm and DigiCi. The portal allows individuals to buy either of the plan or a combination of both to get a comprehensive insurance cover. The products have been designed...
American International Group, Inc. advised by global law firm Norton Rose Fulbright, has placed the first Shari’ah-compliant insurance policy in the Middle East and North Africa region (MENA) for merger and acquisitions activity. AIG offers a range of Islamic insurance solutions for M&A transactions, through its partnership with Shariah-compliant managing...
A number of MPs are on the verge of presenting a request to the National Assembly Speaker Marzouq Al-Ghanim to prioritise the report No. 15 of the financial committee for amending some clauses in the Amiri decree of law No. 61/1976 concerning the social insurance law, especially the clauses related...
Cigna recently conducted a well being survey targeting overall wellness among 14,219 people, of which 1000 respondents were surveyed in the UAE. According to the findings, the UAE ranked fifth when compared to 12 other companies and Turkey ranked ninth. The survey looked at five key components—physical health, financial health,...
NAS United Healthcare Services represents an important investment for Mumtalakat and Arcapita strategies. Alternative investment firm Arcapita and Bahrain Mumtalakat Holding Company (Mumtalakat), the sovereign wealth fund of the Kingdom of Bahrain, have partnered to acquire an approximately 90 percent stake in NAS United Healthcare Services (NAS), a leading GCC...
