December 2, 2020

Middle East Views

Middle East Views
QGIRC enlists services of Roland Berger

ECI receives AA- rating

Dr. Thani bin Ahmed Al Zeyoudi, UAE minister of state for Foreign Trade and deputy chairman of the Board of Directors of ECI, praised the efforts of Etihad Credit Insurance (ECI), after it was assigned with Insurance Financial Strength (IFS) Rating and an Issuer Default Rating (IDR) of AA- (Very...

Dr. Ali Saeed Bin Harmal Al Dhaheri

Watania sees profit hike of 78%

National Takaful Company (Watania) has announced its nine-month financial results for 2020. The company’s net profits are up by 78 percent compared to corresponding period last year. The Company achieved net profit of AED17.8 million in nine months during the financial year 2020 as against AED10.0 million in nine months...

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CMA presents Dhamani to stakeholders

The Capital Market Authority held a virtual introductory meeting on the Dhamani Platform. The meeting was chaired by Ahmed Ali Al Maamari, vice president, Insurance Sector and the participation of the company executing the Dhamani Platform and the insurance companies, brokers, agents, third party claim administrators and private hospitals and clinics....

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CMA to hold introductory meeting on Dhamani tomorrow

The Capital Market Authority will hold a virtual meeting to introduce Dhamani Platform implementation on Monday with the participation of the Ahmed bin Ali Al-Mamari, vice president, Insurance Sector, the company executing the project, chief executive officers and general managers of insurance companies, brokers and agents as well as representatives...

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Outstanding receivables to pressure profitability: Moody’s

Insurers based in the Gulf Cooperation Council (GCC) countries are exposed to increased outstanding receivables, putting them at risk of provisioning and pressurising profitability, Moody’s Investors Service stated in a report published recently. “The coronavirus-driven economic shock caused a sharp decline in oil prices that widened the region’s budget deficits...

Nama Shared Services signs up with Credit Oman

NSS signs up with Credit Oman

Nama Shared Services Company (NSS), a member of Nama Group, recently signed a Credit Insurance System Agreement with Credit Oman. On behalf of NSS, Ahmed Al Rahbi, general manager of Nama Shared Services Company attended a signing ceremony with Sheikh Khalil bin Ahmed Al Harthi, CEO, Credit Oman. The agreement...

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Orient to hike stake in 2 insurers

Orient Insurance Company will increase its stake in UAE-based Orient UNB Takaful PJSC and Egypt-based Orient Takaful PJSC as the result of a recent transactional agreement. Abu Dhabi Commercial Bank Group (ADCB) has agreed to sell its 49 percent stake in Orient UNB Takaful PJSC and its 20 percent stake...

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Solidarity-T’azur potential merger: One step closer

Solidarity Bahrain and T’azur have decided to take the next step in the potential consolidation process. “Pursuant to the announcement dated 25 October 2020, Solidarity Bahrain B.S.C (Solidarity) would like to announce that the Board of Directors of T’azur has provided its in-principle acceptance to the Letter of Intent and...

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AXA debunks motor insurance myths

AXA Gulf recently launched the Car Insurance Uncovered Report, endeavouring to educate policyholders of challenges they may face while purchasing motor insurance in the UAE. According to the survey of 1000 motor insurance policy holders, it was shown that most respondents did not understand the jargon used by insurers, the...

Tunisia govt launches Govtech project

The departments of Communication Technologies, Education, Civil Service and Social Affairs, together with World Bank representatives launched the Govtech digital transformation project for citizen-oriented public services recently. The World Bank is providing financing to the tune of USD100 million towards the project. Communication Technologies minister Mohamed Fadhel Kraiem announced that...

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