Jardine Lloyd Thompson’s investment in Dubai-based broker Insure Direct will provide a platform to accelerate the broker’s strategy of building its international reach and relevance in a region where there is growing demand for its specialist expertise in areas such as construction, infrastructure, telecoms, agribusiness, aviation, healthcare, employee benefits, energy...
Bin Shabib & Associates LLP has been appointed to assist the UAE Insurance Authority in redrafting the UAE insurance laws and to provide support for the implementing and enforcement of the regulations, post enactment. The Bin Shabib Insurance team will include Michael Kortbawi, partner, Rima Mrad, partner, and Irshied...
The cost of providing employee health benefits for companies in the Gulf is the highest in the EMEA region, constituting six percent of payrolls compared to 3.9 percent and 3.3 percent in eastern and western Europe respectively, said a Mercer Marsh Benefits report. In the US, a comparable survey found...
The first Asia Reinsurance Barometer, published by the Qatar Financial Centre (QFC) Authority, finds that the region’s reinsurance markets are still confident, although the outlook on pricing and profitability for the next 12 months is slightly waning. Asia’s strong economic growth is seen as the market’s key attraction. Reinsurance...
Zurich’s 50 staff working in their Dubai-based Middle East and Africa regional headquarters have been notified of a move to Dublin and their roles are now under review, with the intention of redeploying as many as them as possible within the business. The changes are not affecting Zurich’s global life...
AXA Group has been named as the first insurance brand worldwide by Interbrand ranking. The recognition, won by AXA for the fifth consecutive year, reinforces the company’s leadership in the insurance sector across the globe. AXA’s brand valuation and its position notably reflect its employees’ brand engagement, the ranking says,...
ACE Group announced that it has received approval from Tunisian Ministry of Finance to establish a reinsurance operation in Tunisia as part of its continued strategy to grow its business throughout the Middle East and North Africa region. The license has been granted under the country’s offshore regulations for facultative...
Emirates Islamic Bank announced the launch of its Auto Takaful plan that provides comprehensive coverage against loss, damage and third party liability resulting from automobile accidents across the UAE and extension for own damage only in Oman and Qatar, as well as third party property damage up to AED 1,000,000. ...
Union Insurance Company has completely revamped its website with a focus on customer service and usability. Easy to navigate, the website provides clear information about the company, its new senior management and the comprehensive range of individual, corporate and bancassurance risk-management products it offers. Customers will find frequently accessed information...
A.M. Best affirmed the financial strength rating of A- (Excellent) and issuer credit rating of “a-” of Trust International Insurance & Reinsurance Company B.S.C. (c) Trust Re (Trust Re) (Bahrain). The outlook for both ratings remains stable. The ratings reflect Trust Re’s good risk-adjusted capitalisation, resilient operating performance and developing...
