The Continental Group has released findings about the major investment trends that will dominate the market in the coming decade. According to the findings, 71 percent of the respondents agreed that new technology trends such as Artificial Intelligence, Robotics and associated services are the major trends that will dominate investments. The...
While most Jordanian insurers have been resilient to COVID-19, the pandemic had a significant impact on Jordanian insurers’ 2020 premium volumes and investment returns. But overall technical performance improved, particularly in motor insurance, helped by fewer claims in motor and medical. Gross written premium (GWP) for the Jordanian market fell...
The Labour Market Regulatory Authority (LMRA), in cooperation with the Central Bank of Bahrain (CBB) and the Bahrain Insurance Association (BIA), has announced the Optional Insurance System for Domestic Expatriate Employees to protect employers and domestic expatriate employees following any incident that covers for insurance. The Optional Insurance System for...
InsurTech startup Democrance has entered a partnership with MetLife to simplify interactions with customers through innovation and digitisation. The partnership will offer MetLife customers easy access to targeted critical illness, accident, and health insurance retail solutions via their mobile devices. In the initial stage, products will be available via SMS and...
The trend of reduced accidents and insurance claims during the peak of the pandemic in 2020 is now on a reverse, owing to the UAE’s vaccination drive and the opening of tourism channels. RSA Insurance has shared with RoadSafetyUAE that claims rates are on the rise and has increased close...
S&P Global Ratings has cautioned that with persistent risks related to the pandemic, new rating actions may be taken in the event of a sharp decline in asset prices, unexpected and severe technical losses, or governance and internal control failures. However, credit ratings on takaful and conventional insurers in the Gulf Cooperative...
Sehteq has successfully secured USD3 million in venture debt investment dispatched by key investor 971 Capital. This newly acquired investment is a cornerstone of their newly launched Techcelerate project, working towards building two business units and expanding the technology arm to regional Insurtech, on the road to transitioning the insurance...
As part of its international expansion strategy and its ambition to be a regional and continental leader, Société Centrale de Réassurance (SCR), subsidiary of Caisse de Dépôt et de Gestion (CDG), continues its expansion in Africa by opening a representative office in Southern Africa. The fourth representative office in Africa after...
Wafa Assurance, a subsidiary of Attijariwafa Bank, is entering the Egyptian market after receiving regulatory approval from Egypt. Through new business operations, the company plans to extend its reach internationally. Wafa Life Insurance Egypt currently has a valuation of USD9.5 million, but that number is expected to quickly grow. The...
Democrance recently announced the completion of its latest funding round, led by Dubai-based international VC firm Global Ventures, along with the participation of Veridian Ventures and existing investors. Michele Grosso, chief executive officer, Democrance, said: “Democrance aims to enable the consumerisation of insurance where insurance products will be bought and serviced remotely...
