Takaful Emarat is eyeing up rival insurance companies in an attempt to increase market share amid intense competition, its chief executive said. The Dubai-listed Shari’ah-complaint insurer, which specialises in Islamic health and life insurance, said that it was looking at acquiring UAE-based takaful and conventional insurance companies to push up...
National Bank of Egypt (NBE) and Misr Life Insurance have entered into an e-collection agreement. Hazem Hegazy, NBE CEO for retail banking and small- and medium–sized enterprises signed a corporation protocol with Ahmed Abdel Aziz, chairperson of Misr Life Insurance. The protocol revolves around the development of the company’s dues...
Gulf Insurance Group (GIG) announced a net profit of KWD10.6 million (USD35 million), or 58.99 fils per share, for the nine months ended September 30, 2016 compared to KWD11.2 million (USD37.3 million) for the same period last year with a decrease of KWD0.6 million (USD2.3 million) or 5.9 percent. The...
The government is studying the possibility of implementing medical insurance for all people working in the private sector in the Sultanate of Oman. According to a circular by the Oman Chamber of Commerce (OCCI), the plan, with insurance cover for both Omanis and expatriate workers, is expected to be launched...
Exelon, a unit of Bahrain-based Saara Group, has launched Careworks, a hospital management system, in the region. The solution promises to streamline medicare in Bahrain and other GCC states, a statement from the company said. Exelon is working in partnership with Sofscript, an Indian company that is in the business...
The UAE Insurance Authority (IA) organised the International Motor Insurance Conference – under the theme of “New Insurance Concept for Better Future” in Abu Dhabi recently. Ebrahim Obaid Al Zaabi, director general of the Insurance Authority (CEO), reviewed the consolidated motor insurance policies system. From January 1, 2017, the vehicle...
President of Bimeh Markazi Iran (Central Insurance of Iran) has travelled to Europe to launch negotiations with European insurers in Munich and London. Abdolnaser Hemmati, president and head of High Council of Insurance of Bimeh Markazi Iran (Central Insurance of IR Iran), was recently in Europe seeking to boost level...
The Dubai Health Authority (DHA) announced that it will be adopting a new health insurance payment system that will improve transparency and quality of healthcare services in the emirate of Dubai. Humaid Al Qatami, chairman of the Board and director General of DHA announced that the executive council has approved...
Union National Bank (UNB) and Orient Insurance have established a green field company under the name of “Orient UNB Takaful,” according to a bourse statement. The new firm will be jointly promoted by UNB and Orient Insurance Company (OIC) Orient Insurance Company will own 34.5 percent stake or 697,000 shares...
A Friends Provident International (FPI) survey has revealed apparent confusion among UAE residents, between the cover provided by their medical insurance and critical illness insurance. According to the survey only a fifth (21 percent) of respondents said they have critical illness insurance in place to protect them and their families...
