The number of protests and riots in the MENA (Middle East & North Africa) region has jumped by 45 percent in the last year*, from 19,677 to 28,458 incidents, according to new analysis by specialty (re)insurance group Chaucer. Chaucer has said in a statement that the increase in protests in the region has...
Regional investment group MIG Holding and Gallagher have finalised their strategic partnership in ACE after the agreement was formerly approved by regional regulators for Gallagher to acquire shares in the ACE Companies within the MENA region. The ACE entities within the MENA region will now operate under the brand ACE...
Dubai Investments has announced to the shareholders of National General Insurance Company PJSC that it has made an offer to acquire all or part of the NGI shares. According to a bourse filing, Dubai Investments has dispatched the offer document to the shareholders of NGI at their PO box address...
UAE-based venture capital firm Global Ventures has announced new investment from Bupa Arabia. Bupa Arabia’s participation in Global Ventures Fund II as strategic partner will foster the healthcare ecosystem in the region and particularly in Saudi Arabia. The investment by Bupa Arabia is part of the company’s strategy to participate...
The General Pension and Social Security Authority (GPSSA) has been entrusted to implement the system of extending insurance protection for Emiratis working in the GCC region as well as for GCC citizens working in the UAE. Explaining the exact process, Hanan Al Sahlawi, executive director of the Pensions Sector in...
In line with the commitment to continuously expand strategic partnerships, Ajman Free Zone (AFZ) has signed a Memorandum of Understanding (MoU) with Dubai National Insurance. Eng. Ali AlSuwaidi, director general of AFZ, and Abdulla Al Nuaimi, CEO of Dubai National Insurance, signed the agreement in a ceremony. The MoU focuses on...
Oman Re has reported Gross Written Premium (GWP) of OMR24.1 million (USD62.7 million) as of 30 September 2021, which is higher by 11 percent compared to OMR21.8 million (USD56.7 million) during for the same period last year. Oman Re’s investment income increased by 12 percent during Q3 2021 to reach at OMR1.5...
Abu Dhabi Commercial Bank has completed the sale of its 20 percent shares in Orient Takaful, an Egypt public joint stocks company. The transaction was announced earlier in November 2020. The value of the acquisition shared in a bourse statement by Orient Insurance is to the tune of AED24,460,000. The...
The General Arab Insurance Federation (GAIF) recently organised its ninth virtual symposium to discuss the need to design models for natural disasters, and to discuss how to bridge the insurance gap that may reach to the tune of billions of dollars, a small portion of which is currently insured, especially in developing...
yallacompare has launched a new pet insurance product. The cover for the product is provided by the Islamic Arab Insurance Company, also known as Salama. Designed to alleviate the pet ownership price burden in the UAE, pet insurance through yallacompare offers Shari’ah-compliant cover for dogs and cats so that policyholders...
