The Saudi insurance market continued its strong growth over the first half of 2014 with gross written premium expanding 24 percent compared with the first half of 2013, according to a new Best’s Briefing. The briefing, titled, Saudi Market Rebounds Following Regulatory Action, states that independent actuarial reviews imposed by...
Qatar Insurance Company (QIC) announced the company’s performance over the first nine months of 2014. The Group’s President and CEO, Khalifa Abdulla Turki Al Subaey stated: “Qatar Insurance Group reports strong performance in line with its goals to be ranked among the top global insurers.” Subscribed premiums for the period...
Qatar Insurance Company’s (QIC) Board of Directors has approved the listing of QIC International in Qatar Stock Exchange. (QICI) is a subsidiary of QIC incorporated under Qatar Financial Centre since 2007 with an initial share capital of QAR200 million that has gradually increased to its current level of QAR382 million....
The Bahrain Takaful industry showed seven per cent growth, with total premiums reaching BHD57.2 million in 2013, compared to BHD53.7 million in 2012, said Abdul Rahman Al Baker, executive director of Financial Institutions Supervision, Central Bank of Bahrain. Delivering the inaugural keynote address at the third Annual Middle East Takaful...
According to the Ernst and Young's Middle East and North Africa report: Waves of change: The shifting insurance landscape in rapid-growth markets, significant opportunities for growth are present in emerging markets such as Saudi Arabia and the UAE. Gordon Bennie, EY MENA financial services leader, said, "Insurance market growth has...
Providing employees with a formal retirement savings plan will significantly improve a company’s ability to attract and retain the best staff, according to research released by Zurich International Life. In a survey of 1,000 UAE residents, almost two-thirds of respondents (58 percent) said that they would be more inclined to stay with their current employer or join another company...
Abu Dhabi National Insurance Company (ADNIC), one of the region’s leading providers of insurance solutions for individuals and corporates, has announced its partnership with four Third Party Administrators (TPAs) to complement its in-house medical insurance claims management services. The TPAs, which include NextCare, NAS, MSH International and FMC UAE Network,...
The global life insurance industry faces quite a number of challenges, said Greig Woodring, president and CEO, RGA Inc. He was speaking at RGA’s Annual CEO Dinner held in Dubai. “Notable among [the challenges] being difficult macroeconomic forces, dhifting demographics creating changing demand for existing products, substantially increasing regulations, new...
Middle East and Northern African reinsurance markets continue to benefit from the region’s robust economic expansion, according to the 2014 edition of the MENA Reinsurance Barometer. Issued on an annual basis by the Qatar Financial Centre (QFC) Authority, the survey found that fierce competition, intense pricing pressure and higher risk...
Since its repositioning in early 2013, Qatar Re, formerly known as Q-Re, has made impressive progress towards developing into a global multi-line reinsurer. In the first half of 2014, Qatar Re wrote gross premiums of USD327 million, an increase of 55 percent over the prior year period. The company is...
