Al Madina Insurance anticipates robust growth in the Takaful insurance business in Oman, according to CEO Gautam Datta. Al Madina, expects the market to grow between OMR60 million to OMR70 million in worst case scenario and OMR150 million to OMR180 million in best case scenario in the next three...
Zurich International Life has launched ‘Adviser Suite’, a new online portal for financial advisers designed to simplify the quotation and application process in the Middle East. Adviser Suite also provides a full range of financial planning tools to help advisers better identify client needs and provide more structured financial solutions, as well as the...
Zurich has signed a five-year agreement with United Arab Bank, to market and distribute its general insurance products in the United Arab Emirates. UAB will be offering Zurich’s motor, home and travel insurance cover, with further specialist insurance propositions, including personal accident, to follow shortly. Zurich’s insurance products will be extended to...
Emirates NBD recently entered into a strategic partnership with MetLife to provide comprehensive life insurance solutions to the bank’s customers. This strategic partnership marks the coming together of the two companies to provide world-class savings and protection solutions to the bank’s one million plus customers in the UAE. The partnership...
Tune Ins Holdings Bhd, which is expected to conclude an acquisition deal in Indonesia this year, will further penetrate into the MENA region through a tie-up with partners there. According to its CEO Peter Miller, the markets the company is looking at include Saudi Arabia, Kuwait, Bahrain and Egypt. "In...
Pioneer Underwriting Limited has announced the support of Qatar Re on ISN 1980, operated in conjunction with Liberty Syndicate 4472, via a strategic quota share arrangement, commencing with the current 2014 year of account. It is mutually intended that this annually renewable arrangement will be long-term in nature as Pioneer...
Standard & Poor's Ratings Services (S&P) affirmed its long- and short-term foreign and local currency sovereign credit ratings on the Kingdom of Bahrain at 'BBB/A-2'. The outlook is stable. At the same time, the ratings agency has also affirmed the 'BBB/A-2' ratings on the Central Bank of Bahrain. The ratings on Bahrain are...
International specialty property/casualty insurer and reinsurer Catlin Group Limited, has established Catlin Middle East Limited within the Dubai International Financial Centre. Catlin Middle East offers facultative reinsurance to insurers in the Gulf Cooperation Council (GCC) countries, Africa and parts of South Asia. The firm will underwrite on behalf of Catlin...
Standard & Poor's Ratings Services revised its outlook on Dubai-based National General Insurance Co. (NGI) to positive from stable. At the same time, the ratings agency has affirmed long-term counterparty credit and insurer financial strength ratings at 'BBB+'. The outlook revision reflects the view that NGI's financial risk profile will...
Standard & Poor's Ratings Services (S&P) revised its outlook on Kuwait Reinsurance Co. to positive from stable and affirmed 'BBB+' counterparty credit and financial strength ratings on Kuwait Re. The improved assessment of Kuwait Re's risk position has led S&P to revise the anchor to 'a-' from 'bbb+'. However, in...
