The Capital Market Authority (CMA) has decided to suspend 36 insurance agents for violating Article 4 Clause 9/a of the regulation for licensing insurance agents for failure to adjust their situations in accordance with the provisions related to Omanisation of the insurance agent’s business. The businesses have failed to effect 100 percent Omanisation...
The Health Insurance Team discussed in its eleventh meeting, chaired by Ahmed Ali Al Maamari, vice president for Insurance Sector, the key developments in the preparation for implementation of the compulsory health insurance scheme for the employees of the private sector and visitors (Dhamani) with the participation of the members of...
The African Risk Capacity (ARC) Group is proposing a new insurance mechanism to African countries in the South West Indian Ocean (SWIO) region to cope with the impact of tropical cyclones. This parametric insurance product will provide countries with predictable and rapid financing for early response to cope with emergency situations....
Etihad Credit Insurance (ECI) has announced that the company has issued AED420 million worth of trade credit support to the small and medium enterprises (SMEs) from January to November 2020, which translates to AED1 billion non-oil trade insured turnover, as it carries out its mandate of accelerating the UAE’s non-oil...
Noor Takaful has partnered with Algofy.ai Limited, to launch a fully-digital savings plan. The Bliss Savings plan will offer customers a fully digital experience. From application submission to service, everything can be accessed through a smart phone without the need for paperwork filing, branch visits, or physical agent interactions, realizing...
The Attijariwafa bank Group announced the launch of its new inclusive insurance product titled Amane from Taamine Iktissadi, guaranteed by Wafa Assurance. This offer is part of the National Strategy for Financial Inclusion, aiming to allow all Moroccans, notably low-income populations, to access banking and financial services for simple and...
The export credit agencies of UAE and Israel have signed a cooperation agreement to develop economic relations between the two countries. Etihad Credit Insurance (ECI) and The Israel Foreign Trade Risks Insurance Corporation (ASHR’A) have agreed to jointly create a strategic cooperation in supporting exports, trade and investment; explore new...
The UAE Insurance Authority has released the latest figures for the insurance industry in its annual report for 2019. According to the report, the gross written premiums during 2019 amounted to AED44.020 billion compared to a total of AED43.718 billion in 2018, with a growth of one percent. The gross...
SAS has announced a recent partnership with Company for Cooperative Insurance (Tawuniya) to bolster their Analytics and fraud/waste prevention capability within its medical insurance segment. As part of the partnership, SAS will offer an end-to-end Insurance Fraud Management system for Tawuniya’s health insurance Line of Business in efforts to improve the...
QLM Life & Medical Insurance Company QPSC has announced its Initial Public Offering (IPO) of 210,000,000 shares, representing 60 percent of the shares of the Company. A prospectus in relation to the IPO has been published and can be obtained on the Company’s website. Eligible investors in the IPO include...
