The healthcare sector in Saudi Arabia is anticipated to expand at a CAGR of around nine percent between 2015 and 2020, a new research report Saudi Arabian Healthcare Outlook 2020 stated. Saudi Arabia has proven its leadership in regional healthcare sector, fuelled by increased government spending in healthcare, rise in...
Total insurance premiums in 2014 grew by 10 per cent (or OMR36.37 million) to touch OMR400.4 million, from OMR364 million in the previous year. Ahmed Al Mamari, director general, General Directorate of Insurance Supervision at the Capital Market Authority (CMA) said that the insurance sector in the Sultanate has achieved...
Qatar's insurance market will continue to experience significant growth over the coming years given its low insurance penetration level in the region, says Moody's Investors Service. The rating agency notes that the largest local insurers are the most profitable, but are often exposed to high underwriting risk associated with the...
Saudi insurance market is poised to grow more than 23 percent in the current year on the back of new government policies on decisions including property insurance and obligatory medical insurance programs of expatriates and their families, local media said quoting experts. Murad Ziraiqat, an insurance expert, said the new...
Saudi Arabia has made health insurance compulsory for all travellers going to the country on a visit visa, announced the Council of Cooperative Health Insurance. Medical tourists are an excluded category. Everybody applying for visas to enter the kingdom for a visit, an extension or in transit, as well as...
To meet the demands of nationals, the State Council has approved the draft Takaful Insurance Law, said a top State Council official. "We reviewed the recommendations made by the Majlis Al Shura in this regard. Many nationals who follow Islamic regulations and provisions in their transactions are asking the government...
Moody's Investors Service, has affirmed the ‘Ba1’ insurance financial strength rating (IFSR) of Gulf Takaful Insurance Company KSC ("Gulf Takaful"). The rating outlook is stable. The rating affirmation reflects the good market position of Gulf Takaful in the Kuwaiti Takaful insurance market, good product mix and distribution strategy. These strengths...
Markel International has been granted regulatory approval by the Dubai Financial Services Authority (DFSA) to operate within the Dubai International Financial Centre (DIFC). Markel is based within the DIFC and will relocate to the Lloyd’s office when it is launched in March 2015. The Markel trade credit operation in Dubai...
Millennium Insurance Brokers in the UAE, and Oman’s Risk Management Services (RMS) LLC have announced their joint venture to provide comprehensive risk consultancy and insurance broking services to customers across GCC, India, Pakistan and Sri Lanka. The joint venture was signed in Dubai between Albert Rodrigues, managing director of Millennium...
Union Insurance Company, held a seminar on “Employee Benefit and Multinational Pooling” in cooperation with Insurope. The seminar, which attracted prospective clients and representatives from leading local and international brokers, highlighted the partnership between Union Insurance and Insurope and focused on the many potential advantages multinational pooling brings. As an...
