Takaful firms have managed to grab eight percent of the total insurance premiums in Egypt during January and February, the country’s market regulator. In two months, takaful firms posted premiums worth EGP456.8 million (USD25.2 million). The life takaful firms posted direct premiums worth around EGP222 million (USD120.1 million), in which...
Bupa has announced that it proposes to increase its stake in Bupa Arabia by eight percent from 26.25 percent to 34.25 percent. This follows an agreement on the acquisition of a portion of Nazer Group’s stake in Bupa Arabia. Bupa is now submitting formal applications to the relevant Kingdom of...
Egypt’s cabinet approved a national health insurance draft law and referred it to the legislative committee at the State Council for legal review, health minister Ahmed Emad said at a press conference. The health minister said that according to the law, the government will fully cover treatment for citizens who...
Fully digital insurance brokers are developing at a rapid pace, invading market segments such as health and automotive, making digital insurance technology a trend Morocco will unlikely escape from. These digital players impose standards that traditional companies can no longer provide. Their ability to pool technical resources and customise their...
Dr. Abdulrahman bin Abdullah Al Humaidi, director-general of the Arab Monetary Fund, AMF, said that the total value of insurance premiums in Arab countries has reached about USD35 billion by the end of 2016 for all types of conventional and Islamic insurance, while the annual growth in insurance premiums is...
United Insurance Company has announced updates on its capital restructuring program, which it is planning to carry out soon. The company said in a statement to the Abu Dhabi Securities Exchange (ADX) that the goal of the capital restructure is to offset some of the company’s accumulated losses, which according...
The UAE Insurance Authority (IA) issued a second draft Circular No (12) recently, with changes to its proposed revamp of the life insurance and family takaful business. The regulator has invited responses from the industry till May 11, 2017. Among the proposals, the IA plans to impose maximum limits on...
MP Khalil Al-Saleh has said that he has presented a request for expediting discussions concerning charges of medical services offered to visitors of Kuwait which has been part of the Parliament’s agenda, reports Al-Rai daily. He said the government approved the proposal when it was with the relevant committee, as...
The Council of Cooperative Health Insurance (CCHI) has announced the start of the final phase of implementing unified health insurance, which became effective recently. This phase includes all companies, which have 25 or less employees. Such companies will have to provide health insurance cover to their Saudi and non-Saudi employees...
The Dubai Health Authority (DHA) has fined 25 health centres, clinics, insurance brokers and insurance companies for violating the mandatory Dubai Health Insurance Law, while it has referred six clinics to prosecution for potential fraudulent activities. Violations were found during surprise and routine inspections conducted by the authority’s Health Funding...
