Insurance companies in Saudi Arabia continued their top-line growth momentum at the end of Q3 2021, with a matching trend foreseen for year-end, according to KPMG’s latest Insurance Pulse report. The report includes a detailed analysis of the financial performance of 28 insurance companies in Saudi Arabia in the third...
Democrance has entered a partnership with Tokio Marine to drive digital sales for the insurer’s general products and solutions in the UAE. The partnership will allow Tokio Marine customers to use Democrance’s platform to not only purchase policies digitally through distribution channels but also post sales services such as renewals,...
Islamic Arab Insurance Company (SALAMA) has been awarded Participating Insurer (PI) status by the Dubai Health Authority (DHA). SALAMA’s selection as a PI is following a thorough evaluation by DHA, which assesses the insurer’s ability to provide affordable insurance coverage, handle large volume of business, and deliver a high level of...
The listed insurance companies in Oman saw an increase in top line of four percent in FY 2021, with premium volumes increasing from OMR387 million in FY 2020 to OMR403 million, according to a report published by Badri Consultancy, based on published, unaudited financial statements. Six out of the ten listed...
UAE Federal export credit company Etihad Credit Insurance (ECI) recently signed a Memorandum of Understanding (MoU) with Korea Trade Insurance Corporation (K-SURE), the official export credit agency (ECA) of South Korea, to boost investments in sustainable green energy, with a focus on hydrogen production projects development and trade relations between the two...
The National Health Insurance Company – Daman has launched a comprehensive five-year Emiratisation strategy, with the aim to increase the numbers of UAE Nationals in specialised roles across its company. The new strategy comes following the ‘Projects of the 50’ initiative. Daman will implement a plan to increase the numbers of...
Abdulla Al Nuaimi, CEO of Dubai National Insurance (DNI) has been appointed as an honorary board member of the Insurance Business Group (IBG), a non-profit organisation licensed by the Dubai Chamber of Commerce and Industry, represented by members comprising a cross-section of notable companies within the UAE insurance sector. Al...
Dubai Insurance Co. (DIN) has announced the successful recruitment of 57 new local professionals who have joined their growing team of experts as of December 2021. The newcomers include 3 managers, 11 administrative supervisors, 32 legal researchers, 1 computer programmer and 10 customer service agents, bringing the total number of...
Sultan Salim Said Al Habsi, minister of Finance and chairman of the Board of Directors of the Capital Market Authority issued Decision No. 171/2021 establishing the Supreme Shari’ah Supervisory Board (SSSB) in the Capital Market Authority and issued its Articles of Association pursuant to Article 5 of the Takaful...
Cigna Insurance Middle East (CIME) has announced that it has received the Participating Insurer licence issued by the Dubai Health Insurance Corporation (DHIC). With this licence, Cigna will be able to offer the Essential Benefits Plan (EBP) in the UAE in the coming months and provide health insurance solutions to...
