Dubai has joined countries such as the US, Hong Kong, and Singapore in the list of the top locations for high cost of health insurance premiums. The ranking was recently published in the Cost of International Health Insurance Report by Pacific Prime. The factor with the highest impact is the...
Twenty-five insurance companies out of 33 listed on the Saudi stock market have achieved growth in profitability for the first half of 2017. The performance of eight insurance companies has declined, including five companies that suffered losses during the first half of this year. The 25 companies constitute around 75.7 percent of the firms listed in the insurance sector in the Saudi stock market,...
The Saudi Arabian Monetary Authority (SAMA) has banned three insurance companies and four insurance agencies from issuing, renewing or selling compulsory vehicle insurance policies, local media reports state. The companies are Arabian Shield Cooperative Insurance Co., Saudi-Indian Co. for Cooperative Insurance, Malath Cooperative Insurance Reinsurance Co., Ajyad Al-Khaleej Insurance Co.,...
Chairman of the Board of Directors of the Jordan Insurance Federation (JOIF) Ali Al Wazni recently inaugurated the “Corporate Risk Management” training programme, according to a Jordan Times report. The three-day programme delegates included a number of managers and heads of risk management departments in insurance companies, major financial and...
The Social Security Corporation (SSC) has said that the insurance surplus from the year 2016 amounted to JOD556 million, while the corporation expects the insurance surplus from the current year to reach JD610 million, the Jordan News Agency reported. SSC spokesperson Musa Subaihi said that the corporation has developed a...
Severe storms that led to heavy rainfall, hail and flooding across Istanbul and surrounding areas in Turkey could cost local insurance companies close to USD200 million. A report by Artemis suggests that the storms lead to heavy losses due to wind, fire and hail, which have led to widespread damage...
Kuwait’s Insurance Company SAK announced registering an increase of 735 percent in revenues during the first half of 2017 compared to the same period in 2016. According to a bi-annual report, the company made revenues of KWD6.5 million (USD21.5 million), as opposed to registering a loss of KWD1.02 million (USD3.3...
Vision Insurance, which closed its initial public offering (IPO) on August 7, has attracted demand for 12.37 million shares or 49.48 percent of the total offering of 25 million shares, according to a statement from the Capital Market Authority. The company floated its shares in line with CMA’s stipulation that...
Oman’s market regulator Capital Market Authority (CMA) has approved the merger of Muscat Insurance Company and Muscat Life Assurance Company with its parent company Muscat National Holding Company (MNHC). Muscat Insurance Company and Muscat Life Assurance are fully-owned subsidiaries of Muscat National Holding, according to a company statement. On completion...
Net profits of 28 insurance companies listed at ADX and DFM surged 34.2 percent during H1 2017 to AED764 million against AED569 million during the corresponding period last year. Market analysts attributed the recovered profitability in the insurance sector to the success secured by eight companies which turned last year’s...
