Marine insurance broker Northern Lloyd Group recently announced its expansion with the opening of two new offices in Abu Dhabi and Athens. Both Greece and the Middle East are important markets for Northern Lloyd and an office presence in both locations allows the company to respond promptly to the specific...
Al Ain Ahlia Insurance Company has added several new benefits to its health plan for the UAE SME sector, offered in partnership with Aetna International. Some of the benefits include coverage for mental health, emergency treatment outside the area of cover, and organ transplant. The latest round of enhancements are...
Lloyd’s recently hosted an expert panel to discuss the role of the (re)insurance industry in supporting the Middle East transition away from a carbon-based economy towards a sustainable future, whilst balancing commercial pressures. The event was held in partnership with the Dubai Financial Services Authority (DFSA) and Dubai International Financial...
The Financial Academy has announced that the body will be organising the Economic Growth Forum (EGF) virtually to discuss issues related to insurance sector development in the Kingdom of Saudi Arabia. During the virtual forum, which is scheduled to kick off at 1:00 p.m. on Tuesday 23, March, 2021, executives...
The National Health Insurance Company – Daman announced that over 60 percent of participants in its diabetes management programme have maintained or reduced their risks to develop complications over a period of 12 months with 89 percent following the programme coaches’ guidance to improve their quality of life. Daman highlighted these findings following case reviews of...
Islamic Arab Insurance Company (SALAMA) has reported improved core business profitability and investment returns, nearly tripling its net profit to AED157.04 million (2019: AED59.8 million). At an operational level, SALAMA has successfully focused on the local UAE market in 2020. This is reflected in gross written premiums, which increased by...
Etihad Credit Insurance (ECI) and African Trade Insurance Agency (ATI) have agreed to strengthen the trade relations between the UAE and Africa by providing trade finance solutions to businesses and exporters. To that end, both sides signed a Memorandum of Understanding to boost the global competitiveness of exporters by increasing...
In line with Oman Vision 2040 to achieve its objectives in digital transformation towards a smart government and in continuation of the regulator’s approach in digitalising its services, the Capital Market Authority recently launched an electronic system for licensing health insurance Third Party Administrators (TPAs). The electronic system is part...
Farqad Abdullah Al-Sane, chairman of Gulf Insurance Group (gig), recently announced that the Group achieved a net profit of KWD16.3 million (USD53.7 million), for the financial year ended December 31, 2020. This represents an increase of 22 percent over the KWD13.3 million (USD43.9 million) made in 2019. Total revenues amounted...
The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and the Arab Investment & Export Credit Guarantee Corporation (DHAMAN) have jointly signed a quota share reinsurance agreement with the Jordan Loan Guarantee Corporation (JLGC). The agreement serves to solidify the deep and historical relationship the three entities...
