The Dubai Health Authority (DHA) recently signed a Memorandum of Understanding (MoU) with the Dubai Healthcare City Authority (DHCA) to strengthen cooperation in various medical fields including insurance, transfer of permits of health professionals, education, medical training and research. The MoU was signed by Humaid Al Qutami, director-general of the...
A statement by the General Insurance Committee of Tunisia (CGA) showed that the total value of claims paid out in H1 of 2020 decreased by 16 percent to reach TND528 million against TND628.8 million during the same period in 2019. Car insurance benefits fell 26 percent, standing at TND247.5 million...
EFG Hermes (through its NBFI arm EFG Hermes Finance Holding) and GB Auto (through its NBFI arm GB Capital) have acquired a 75 percent stake in Tokio Marine Egypt Family Takaful, in a deal worth EGP84.75 million. Tokio Marine Egypt Family Takaful offers individual and corporate clients a variety of...
The General Retirement and Social Insurance Authority (GRSIA) participated in the 45th meeting of the Permanent Technical Committee of the Gulf Civil Pension and Social Security Agencies. Director of Customer Management and member of the committee, Ali Abdullah Al Kuwari, represented the Authority in the virtual meeting. The meeting dealt...
Berkshire Hathaway Specialty Insurance (BHSI) has announced Directors & Officers (D&O) Liability and Professional Indemnity (PI) policy wordings for customers in the UAE and throughout the Middle East. “Companies in the Middle East are increasingly concerned about management and professional liability exposures particularly in the challenging business environment created by...
Experts within the regional insurance industry discussion medical insurance and health care at the Sixth Regional Forum for Medical Insurance that took place in Cairo recently. The forum was held in cooperation between the General Arab Insurance Federation, the Egyptian Insurance Federation and the Egyptian Society for Health Care Management,...
State Street Corporation and investment management solutions and service provider, SimCorp have announced their intent to form a business partnership to provide a fully integrated, front-to-back investment outsourcing solution for insurance firms in Europe, Middle East and Africa (EMEA). EMEA-based insurance companies will have access to SimCorp Dimension’s cloud-based, multi-asset class capabilities, advanced...
The Ministry of Health and Prevention (MoHAP) has launched the “Post Office” initiative as part of the National Unified Medical Records “Riayati,” a linkage system between hospitals and clinics and health care providers. The new service helps provide better management of the central information related to the electronic insurance claims and...
After a material improvement in growth and earnings in 2019, S&P Global Ratings expects the Saudi Arabian insurance sector to report solid underwriting results in the first-half of 2020, benefiting from fewer motor and medical claims due to the COVID-19-related lockdown, despite negative economic growth. In a report titled COVID-19 And...
Saudi insurers witnessed a substantial increase in net profit before zakat in the first half of 2020 with premiums following an upward trajectory and slowing loss ratios, according to a new report released by KPMG in Saudi Arabia. Based on company disclosures, Saudi Arabia’s listed insurers generated SAR1,014 million in combined profits in...
