Oman Insurance Association (OIA), a trade body of insurance companies, insurance brokers and loss adjusters, recently named a new board of directors headed by chairman Sayyid Nassir Al Busaidi of Oman United Insurance Company, with Rawny Khadr of Dhofar Insurance and Lloyd East of RSA Middle East being named deputy...
Insurance regulator Capital Market Authority (CMA) has approved the new amendments to the Insurance Agents’ Regulation. Sheikh Abullah Salim Al Salmi, executive president of CMA has confirmed that the new amendment to the Insurance Agents Regulation has stressed on the importance of Omanisation of the profession to achieve added value to...
India’s national reinsurer GIC Re is set to focus on the Life line of business, according to the company’s new chairman and managing director Alice Vaidyan. “My focus is on a Life insurance vertical, which I want to take forward in a big way. It’s going to be our flagship...
Cigna Corporation, in a joint venture with Saudi Arabian Insurance Company (DAMANA) is in the process of introducing its Chronic Conditions Management Program, with a Health and Wellness Program with health risk assessments and wellness solutions to follow. “If you are addressing health, wellness and peace of mind in the...
Trust Insurance Management WLL, a subsidiary of Trust Re, a reinsurer based in the Kingdom of Bahrain, has been approved as a Lloyd’s Coverholder. This will allow the company to write both insurance and reinsurance business in the more than 200 countries in which Lloyd’s operates. As Trust Insurance Management is writing on...
Health Insurance TPA of India, a joint venture by public sector insurance companies to manage in-house health claims, will begin operations soon. Health Insurance TPA is a joint venture of public sector non-life insurance companies – National Insurance Company, New India Assurance Company, United Insurance Company, Oriental Insurance Company, and General Insurance Corporation of India....
Despite falling revenues, energy firms should maintain their investment in risk management to reduce the potential for future major incidents and insurance claims, according to Marsh, a leading global insurance broker and risk adviser, and a wholly-owned subsidiary of Marsh & McLennan Companies, Inc. In a research report titled “Can...
Moody’s recent survey of the Chief Financial Officers (CFOs) of 15 GCC insurers indicates that more than half expect the growth in their company's operating profit to be moderate or high. Although Moody's shares the expectations of the CFOs on a good number of important topics, they tend to be...
Union Insurance Company, a leading provider of innovative customer-focused insurance products to individuals and organisations in the region, has posted the highest gross written premium (GWP) and technical profit in its history. The company reported gross written premium of AED681 million for the year 2015, making it one of the...
Whilst it is commendable that 2015 witnessed lesser home burglaries than in 2014, 289 families residing in the UAE had been devastated by home burglaries. Qatar Insurance Company’s retail arm QIC Insured’s statistics reveal that less than one percent of its customers’ in the UAE have their valuables covered with...
