AXA Insurance Gulf announced the opening of its new offices for the UAE and regional operations at the futuristic Business Bay development in Dubai. The office was inaugurated by H.E. Alain Azouaou, the Ambassador of France to the UAE, and Mr. Mishal Kanoo, Deputy Chairman of the Kanoo Group,...
Standard & Poor’s (S&P) upgraded Warba Insurance Company’s financial strength rating to ‘BBB’ while raising the company’s outlook to stable, which indicates that Warba’s financial profile could further improve over the next two years. Warba has been maintaining a lead market share of 11 percent amongst more than 30 licensed...
Companies across the Middle East and Africa (EMEA) are buying higher levels of liability insurance as fears increase over possible claims during the economic downturn. According to a research by Marsh, heightened demand coupled with competitive pricing has led to an increase in the amount of insurance purchased compared to...
Tokio Marine Middle East Ltd, the Dubai-based regional hub of Japanese insurance giant Tokio Marine, plans to launch its new Saudi joint venture, which will spearhead its activities in the Kingdom and beyond. Ajmal Bhatty, President and CEO, Tokio Marine Middle East Limited, confirmed that the Alinma Tokio Marine...
As the holiday season draws to a close in the UAE, a number of residents will be shipping their prestige cars back from Europe after a summer of fun driving on the roads of London and Continental Europe. Many owners are actually not aware of the insurance implications of driving...
MAURICE “HANK” GREENBERG Dubai Group has sold its Turkish insurance arm to a company owned by former AIG chief executive Maurice “Hank” Greenberg and a unit of Dubai lender Mashreq Bank, as the state investment firm looks to cut its debt pile. Oman Insurance Co. (OIC), the unit...
“With regards to the sanctions, imposed by enemies on Iran’s insurance industry, we seek to bypass and defuse them in any way possible,” said deputy head of Iran’s Bimeh Markazi, (Central Insurance of the Islamic Republic of Iran) for planning and development Rahim Mosaddeq. “Most of the sanctions are imposed...
Red Herring announced its Top 100 awards in recognition of the leading private companies from Asia, celebrating their innovations and technologies across their respective industries. “Choosing the companies with the strongest potential was by no means a small feat,” said Alex Vieux, publisher and CEO of Red Herring. “After...
Abu Dhabi Health Services Co (SEHA) signed a memorandum of understanding (MoU) with Zakat Fund, a charity foundation, to provide medical services for registered families with limited income. Zakat Fund will be referring the patients to the respective sections of the facilities of SEHA. It will also bear the...
Qatar Insurance Co (QIC) said Qatar Holding, the investment division of the country’s sovereign wealth fund is eager to increase its stake in QIC by purchasing new shares. The insurer stated: “The board of directors of QIC welcomed the offer and agreed to the signing of a Memorandum of...
