The Capital Market Authority (CMA) has instructed insurance companies in a series of meetings with the officers of insurance companies with the attendance of Sheikh Abdullah Salim Al Salmi, executive president of the CMA to provide all forms of support and assistance to mitigate the gravity of the impact of...
The Saudi Central Bank (SAMA) has invited public, specialists and interested individuals to provide their views and observations on recently launched draft insurtech rules within 30 days, noting that all views and observations will be under consideration for adopting the final version of these rules. The draft rules aims to enable...
Provider and manager of alternative investment products Investcorp has announced that it has launched the Investcorp Insurance Solutions platform, the firm’s newly formed business that will focus on providing investment management services to meet the unique investment needs of insurers. Investcorp has hired Todd Fonner as chief investment officer, who has over...
A new Willis Re MENA flood model was released recently by Willis Re that enables (re)insurers to quantify for the first time their risks to this peril in the region using a probabilistic catastrophe model and the ability to stress test for climate change impacts from the hazards. Currently the...
The Ministry of Health and Prevention (MoHAP) held a series of seminars to introduce insurance companies and health care providers to the eClaims Office service which is part of the “Riayati” platform. The new service will be operational by January 2022. The eClaims service provides better management and tracking of...
Sehteq has signed a definitive term sheet of acquisition by Boston-based cloud computing and SaaS startup Cloud Klair. As it gears up to expand into regional markets, this latest acquisition for an undisclosed amount will take effect post-January 2022. Launched in 2018, Sehteq positioned itself as a Tech-integrated health insurance startup that...
UAE’s largest healthcare network Abu Dhabi Health Services Company, (SEHA) and Sheikh Shakhbout Medical City (SSMC) have both signed Memorandums of Understanding (MoU) agreements with Nextcare to enable cardholders to choose any of SEHA’s facilities, or SSMC, as their trusted healthcare partner. Mohamed Hareb Al Qemzi, group chief support services...
ADQ has entered into a definitive agreement to acquire the remaining 20 percent equity stake of The National Health Insurance Company – Daman – PJSC, from Munich Re. As a partner to ADQ, Munich Re will continue to be Daman’s reinsurer and continue its support in delivering best-in-class healthcare insurance services during...
Docprime Technologies, a subsidiary of PB Fintech Ltd., which also owns Policybazaar and Paisabazaar, has announced an investment of approximately USD7.5 million in telehealth and wellness platform Visit Health. This marks Docprime’s first investment in an end-to-end telehealth and wellness platform. The investment will help PB Fintech enhance its service capabilities in the...
The Capital Market Authority (CMA) and Muscat Stock Exchange (MSX) have asked the exchange-listed companies and investment funds to urgently disclose the damages and loss caused by the Cyclone Shaheen. “Please be informed that SAOG firms and investment funds that suffered any damages due to the Cyclone Shaheen need to...
