July 28, 2021

Middle East Views

Middle East Views
ECI, SFD partner to boost export credit insurance

CII, CERT sign pact

The Chartered Insurance Institute, Middle East, has announced a teaming agreement with the Centre of Excellence for Applied Research & Training (CERT), which will see the organisation incorporating the CII’s professional qualifications and certifications into career path development within the UAE’s Insurance and Financial Planning sectors. CERT provides life-long learning...

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Aetna, Sanlam partner on health plan

Aetna International has announced that it has partnered with Sanlam Pan Africa to launch the Global Health plan — a health insurance offering that addresses the healthcare needs of both local and expatriate nationals, on an international basis, across all market segments in 19 countries in Africa. Fully compliant with...

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Solidarity launches ‘on-the-spot cash settlement’

Solidarity Bahrain recently announced the launch of “on-spot cash settlement” in lieu of car repair for its valued customers, in a bid to enhance and simplify the motor claim process. The motor claims on-spot cash settlement is the first of its kind in Bahrain in a price-driven and highly-competitive insurance sector....

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Guidelines for health insurance risk pool issued

The Saudi Central Bank (SAMA) recently announced the issuance of the Rules governing Forming and Managing Health Insurance Risk Pools through Brokers. The rules aim to regulate and develop the mechanism of forming and managing health insurance risk pools and providing access to suitable insurance coverage at low costs. SAMA...

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Beyontec acquired by Singapore-based Azentio

Beyontec has signed a binding agreement signifying its acquisition by Singapore-based software products business Azentio Software. The transaction is conditional obtaining the necessary regulatory approvals. Beyontec has more than 300 employees and over 65 customers across the US, Middle East, and Africa. The company provides a comprehensive range of digital solutions for...

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Aetins acquired by KGISL

KG Information Systems Private Limited (KGISL), an IT services, consulting, and business solution provider, hasannounced the acquisition of AETINS Sdn. Bhd., (199801000924), through its wholly owned subsidiary in Malaysia, KG Information Systems Sdn. Bhd. (201301013805). The acquisition is a part of KGISL’s growth strategy in the InsurTech space. With the...

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Berns Brett Masaood acquires Refpoint

Abu Dhabi-based Berns Brett Masaood (BBM) has confirmed the acquisition of Dubai-based consultancy Refpoint Insurance Consultants LLC (RPIC), a strategic move that strengthens its services in insurance, risk management and financial services, and expands its regional footprint. RPIC specialises in insurance portfolio management and advisory support from its Dubai Maritime...

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CII Public Trust Award winners announced

The winners of the Chartered Insurance Institute (CII)’s Public Trust Awards were announced recently at a virtual ceremony, lead by Julie Page, president of the Chartered Insurance Institute, which includes Dubai-based Oman Insurance and the African-Caribbean Insurance Network. The Building Public Trust Consumer Champion Award was won by Johnny Timpson for his consistent...

SAMA issues Q1 2021 report

SAMA has released the first quarterly report of the insurance sector for the year 2021. The report compares the performance of the Insurance Sector during Q1 2021 with the corresponding quarter in the preceding year. Overall the sector showed positive developments during Q1 2021. The net income for the sector...

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SAMA includes pandemic risk coverage

The Saudi Central Bank (SAMA) announced a possibility of adding benefits of COVID-19 risk coverage insurance to existing – non-beneficial – health insurance policies to insured visitors, for the remainder of these documents, through concluding an agreement with the insurance company issuing the policy. In a statement, SAMA explained that...

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