The Insurance Authority (IA) organised a workshop for national and foreign insurance companies operating in the State on innovation management in leadership risks. The workshop was attended by officials and professionals from the companies and relevant entities in the State. The workshop was organised in line with the IA endeavour...
Qatar’s insurance premium reached USD2 billion in 2015, registering 11 percent compound annual growth rate since 2007. Qatar’s insurance sector, along with Middle East and North Africa (Mena) region, is expected to remain resilient in coming years despite economic headwinds, according to the recently released MENA Insurance Barometer 2016. “Since...
Saham Assurances reported a 5.9 percent rise in 2015 net profitto AED340 million dirhams (USD34.7 million), the Moroccan insurance company said in a statement. Revenue rose 2.5 percent to AED3.77 billion led by a 3.1 percent rise in non-life insuranceto AED3.4 billion. Its life insurance revenueadvanced 2.2 percent to AED363...
The Public Authority for Social Insurance (PASI), in its latest statistics, has said that 15,791 active establishments are currently covered by the social insurance system. The number of active insured personnel in the private sector was 210,272 and the average salary of the insured workers is OMR645. The total number...
The Council of Cooperative Health Insurance (CCHI) has denied reports that members of the same family will not be allowed to have medical insurance in two different companies or that they will be prevented from travelling for this reason. “There is no truth in these reports. We have not issued...
Bahrain Chamber of Commerce and Industry’s Transport and Logistics Sector Committee headed by board member Abdulhakeem Al Shemeri has raised the committee’s proposal to issue a unified insurance policy for the trucks covering all GCC countries. Al Shemeri stressed the importance of the proposal and its prospect in streamlining the...
Iran's legal vetting body has approved a bill that will see female victims of road traffic accidents paid the same compensation as men, in a small step toward gender equality in the conservative Islamic country. The Third Party Insurance Bill, likely to be made law in the coming weeks, will...
First, Yarmouk insurance firms merge In what can be considered the first merger in 25 years, Yemen’s Yarmouk Insurance completed merger transactions that began in April 2015 with Solidarity Insurance. Ali Wazani, chief executive officer of First Insurance, said merging procedures with Yarmouk Insurance started in April 2015, and needed 11...
MENA broker Fenchurch Faris Ltd held two workshops in Khartoum, Sudan recently in cooperation with Islamic Insurance Company Ltd. (Sudan). The workshops addressed technical issues pertaining to Property and Financial Lines Insurance, including Bankers’ Blanket Bond, Computer Crime, Professional Indemnity and Directors & Officers. They also addressed the specific challenges...
Moody’s Investor’s Service recently conducted a survey of 15 chief financial officers (CFO) in the insurance sector within the GCC. Results of this survey were released in a report, ahead of Moody’s annual Credit Risk Conference. The 15 surveyed insurance CFOs represent some of the largest national and multinational insurers...
