Medical tourism insurance that covers up to USD50,000 in case of emergencies will be offered as part of Dubai’s medical tourism initiative, Dubai Health Authority (DHA) announced at the Arab Travel Market (ATM) 2016. DHA highlighted its plans and strategy to attract 500,000 medical tourists by the year 2020, as...
The Dubai Financial Services Authority, DFSA, has entered into an arrangement with the Society of Lloyd’s to establish a Framework for Co-operation. The framework was signed by the chief executive officer of the DFSA Ian Johnston and the chairman of Lloyd’s John Nelson. The agreement promotes an efficient and effective...
Takaful Emarat has expanded its offering to include mandatory insurance for Dubai Residency issuance and renewal. The insurance is for individuals, and is specifically tailored for domestic/basic workers such as maids, nannies, drivers, cooks, in addition to spouses and dependents with residential visas in Dubai. The product is in line...
Abu Dhabi National Insurance Company’s General Assembly has elected new members to its Board of Directors. Following the General Assembly meeting, the Board of directors has elected Shaikh Mohamed Bin Saif Al-Nahyan as the new chairman of the Board and Shaikh Theyab Bin Tahnoon Al-Nahyan as the vice chairman.
New research commissioned by International SOS has shown that 84 percent of people living in the United Arab Emirates underestimate the country’s high level of medical inflation, an increasingly serious concern to employers as a growing proportion of the total cost of employment. The research was conducted by YouGov. Medical...
The concept of Shari’ah compliant insurance has gained significant momentum over the past 10 years, with the global takaful sector experiencing material growth in gross written contributions (GWC), which is expected to reach USD20 billion by 2017. A.M. Best believes that the vast majority of contributions will originate from Malaysia...
Qatar Insurance Company (QIC), has announced the results of its first quarter ended March 31, 2016. Presided by Abdulla bin Khalifa Al-Attiya, deputy chairman of the Board of Directors, the Board approved the financial results at its meeting held recently. The Group posted Gross Written Premium (GWP) of QAR2.7 billion,...
Lockton has opened an office in Morocco, based in Casablanca Finance City (CFC). Salah El Kadiri will lead the Lockton operation in Morocco and West Africa, supporting regional and multinational clients with operations in the region. He has been an executive director in Lockton’s Middle East and North Africa (MENA)...
An official delegation comprising the Technical Committee and executive management of Bahrain-based Arab War Risks Insurance Syndicate (AWRIS) have met Central Bank of Bahrain (CBB) governor Rasheed Al Maraj. The delegation comprised of Ashraf Bseisu, chairman of the Technical Committee, Mohamed Mazhar Hamadeh, deputy chairman of the Technical Committee, and members...
Owing to stiff competition and rise in insurance claims, a hike in premiums can be expected, according to Ali Ibrahim Al Abdul Ghani, chief executive office of Qatar Islamic Insurance Company (QIIC). “Be its medical insurance or motor insurance, these products are not benefiting any insurance service providers because of...
