Global specialist insurance market Lloyd’s of London is, reportedly, set to establish its Dubai branch by the end of 2014, as part of its global expansion strategy. Lloyd's may move into the Dubai International Financial Centre (DIFC) during the fourth quarter, and plans to start operations before 2014-end. As part...
Law firm Holman Fenwick Willan (HFW) will be hosting a seminar on March 4, 2014 focusing on data breach and cyber liability issues. The seminar, which will be chaired by HFW partner Sam Wakerley, and include presentations from HFW consultant Peter Schwartz, HFW associate Luke Hacker and guest speaker JLT...
The Insurance Commission of Jordan (IC) has decided to liquidate one of the country's three takaful providers, Al Baraka Takaful in the beginning of 2014, it stated in a press release. The move comes after a restructuring plan which gave Al Baraka the opportunity to amend its conditions, including fulfilling...
Doha-based Qatar Insurance Company, reportedly earned a gross premium of QAR3.5 billion in 2013 compared with QAR2.55bn in 2012, registering an increase of 38 percent. The underwriter’s investment and other income stood at QAR720 million in 2013, compared with QAR555.3mn in 2012, which shows an increase of 30 percent. The...
Twelve listed insurance companies have allocated SAR1 billion to boost their technical reserves. The funds account for 20 percent of their capital outlay, amounting to SR5.2 billion, an analytical study prepared by Al-Eqtisadiah daily said. The Cooperative Insurance Company (Tawaniya) captured the biggest ratio of fund increases to boost its reserve...
Saudi Arabia will introduce compulsory unemployment insurance this year for all citizens with jobs. The introduction of unemployment insurance is designed to make it more attractive for young Saudis to seek jobs in private companies, where the starting salary and other benefits are less generous than in government jobs. While...
Oman’s eighth largest insurer Al Madina Takaful converted itself from a conventional insurer to a takaful agency. Set up in 2006, the company has accumulated five percent of the insurance market share. Havingchanged its conventional insurance clients to takaful policies after a customer education process, the company representatives said they...
Dar Al Takaful announced recently that it has opened a new managed investment account with Daman Investments. Saleh Al Hashmi, managing director of Dar Al Takaful was quoted as saying: “Daman Investments is one of the most venerable companies in the MENA Investment Arena and this is the start of...
AXA Gulf has announced the launch of the upgraded online medical provider locator service in the region, making it possible for customers to locate a provider on the move, with their smartphones or tablets. The upgraded AXA locator can be found on http://locator.axa-gulf.comand not only provides a quick and easy...
According to the Capital Finance International (CFI) Judging Panel Euler Hermes GCC, is the ‘Best Credit Insurance Services and Solutions Provider in the Middle East’. The award is made for the year 2013 during which the growth of recent years continued and brought forth strong and satisfying profitability. By all...
