Friends Provident International has launched a new Environmental, Social and Governance (ESG) fund range targeting responsible investors. The Responsible Investing sector is supported by investment tools and educational articles, aimed at investor education and features a range of thematic equity funds whose portfolios invest in companies that contribute to positive societal change....
The Capital Market Authority (CMA) issued licenses for four Health Insurance Third Party Administrators (TPAs) up to end of June this year to enhance the regulatory aspect of health insurance market in the Sultanate. CMA issued the regulation for practicing the business of TPAs last year which is step forward...
Employees perspectives towards health is now undergoing massive change as critical decisions behind choosing an employer have begun transitioning, according to Cigna Corporation. About 72 percent respondents in the Cigna Well-Being Survey for 2021 have placed significant importance on access to care such as medical advice or treatment, whereas 73...
Cigna Insurance Middle East S.A.L. has announced a new collaboration with LVL to bring an innovative online employee well-being platform to all its Middle East and Africa (MEA) customers, enhancing the company’s holistic health services offering. The move is part of Cigna’s efforts to promote positive attitudes towards health and...
Dubai National Insurance and Re-insurance (DNIR) has been registered as a partner by the World Logistics Passport (WLP), which will enable the Dubai Hub Members to access preferential rates on insurance premiums, among other unmatched benefits. Mike Bhaskaran, CEO of WLP, said: “Initially launched as a pilot scheme in Dubai,...
The first six months of 2021 has seen strong growth in profits for UAE-listed insurers, according to AM Best’s latest report. Net profits for the market reached AED1.14 billion, compared with AED949 million in the first six months of 2020, equivalent to growth of 19.7 percent. Overall, the return on equity...
Following a recent announcement, the acquisition of AXA’s operations in the Gulf region by Gulf Insurance Group (GIG) has been completed. The transaction includes AXA’s shareholding in AXA Gulf (Bahrain, UAE, Oman & Qatar) and AXA Cooperative Insurance Company (KSA). After the acquisition, AXA Gulf will now hold 50 percent ownership in the...
The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), the insurance arm of the Islamic Development Bank (IsDB) Group, and the Saudi Eximbank have signed two Facultative Reinsurance Agreements (FRAs) whereby ICIEC would provide credit reinsurance cover to the Saudi ECA. The FRAs were signed by Oussama...
The Chartered Insurance Institute, the Chartered Banker Institute and the Chartered Institute for Securities and Investment have jointly developed a certificate in Climate Risk which covers broader environmental and sustainability (Environmental, Social and Governance (ESG)) risks and allows learners to successfully apply these within the context of their organisation. “Managing climate-related...
The Middle East is expected to see a 10 percent growth in healthcare benefits costs, according to the State of Health Insurance Report 2020-2021 by Pacific Prime. Globally projected healthcare benefits costs are expected to rebound to 8.1 percent in 2021, up from 7.2 percent in 2019 and 5.9 percent...
