The Chartered Insurance Institute (CII) has welcomed the UAE Insurance Authority’s (IA) publishing of a draft regulation consolidating rules on insurance broking and online broking transactions, highlighting how the measures will make a significant contribution to raising professional standards and instilling public trust and confidence in the sector. Gaenor Jones,...
Dr. Mohammad Omran, chairman of Egypt’s Financial Regulatory Authority (FRA), recently announced that the Authority will organise an award for the most outstanding women operating in capital market activities, listed companies, insurance, real estate finance, financial leasing, and factoring and microfinance companies. This Award is launched within the framework of...
Oman Insurance Company has announced double-digit growth in net profit at AED160.2 million in the third quarter of 2020, while having its solvency above 250 percent. In addition, the company reported a customer satisfaction index of 88 percent, two points above 2019 average. Jean-Louis Laurent Josi, chief executive officer at...
Braxtone Corporate Services, a subsidiary of Braxtone Group, has announced the official graduation of their motor claims recovery platform titled Tasweya from the regulatory sandbox of the Central Bank of Bahrain (CBB). Tasweya provides insurance companies with an easy to use and secure market-wide centralized platform to manage documents and...
AXA has announced an agreement with Gulf Insurance Group (gig) to sell its insurance operations in the Gulf region, which includes its shareholding in AXA Gulf, AXA Cooperative Insurance Company and AXA Green Crescent Insurance Company. gig is strengthened by the global footprint and insurance expertise of Fairfax, a financial...
Research from Aetna International shows disparity in health and well-being needs among employees, depending on whether they are based at home or in the office. Hybrid-working models are leading UAE businesses to reconsider the healthcare benefits they offer to employees, with special attention being paid to the differences in needs...
Swiss Reinsurance Company Limited (Swiss Re) has joined forces with InsurTech start-up Democrance to automate and digitise life insurance businesses while at the same time leveraging its project innovation capabilities. The partnership will give insurers access to Democrance’s intelligent platform at a reduced rate to automate the Life insurance back-end...
The Emirates Insurance Association organised the seventh Annual Health Insurance Conference for the insurance industry within the UAE. Delivering the patronage speech, Hamad Al Mehyas, vice chairman of the EIA and the chief executive officer of the National Health Insurance Company – Daman, remarked on the role of the insurance...
Al Sagr Cooperative Insurance has assigned the Shariyah Review Board (SRB) to increase agility in all its branches and to apply faith based values to cater to its customers’ needs. Commenting on the development, Sarran AbuSaq, CEO at Al Sagr, said: “We are writing the next chapter of our insurance...
National Takaful Company (Watania) has announced its nine-month financial results for 2020. The company’s net profits are up by 78 percent compared to corresponding period last year. The Company achieved net profit of AED17.8 million in nine months during the financial year 2020 as against AED10.0 million in nine months...
