The Ministry of Climate Change and Environment (MOCCAE) and the Insurance Authority recently organised a virtual awareness workshop to explore climate-related opportunities and challenges for the insurance sector. Around 50 insurance companies and other stakeholders attended the event themed ‘Studying the Insurance Sector’s Opportunities and Risks in Light of Climate...
The Bahrain Institute of Banking & Finance (BIBF) and Bahrain National Holding (BNH) will jointly organise a forum on digital transformation in November 2020 to reimagine the insurance sector and future-proof the industry against further disruption in a post-COVID world. This one-day virtual forum will bring together key speakers and subject matter...
The Capital Market Authority will organise a training workshop for insurance agents in collaboration with the Public Authority for Small and Medium Enterprises targeting national cadres to acquaint them with technical and administrative skills required for distributing licensed insurance products. The five day workshop will start on 18 December at the...
Damana has launched a broking channel for motor insurance in the UAE and Oman and with plans to extend online services in Kuwait and Bahrain in the coming months. The portals, designed in line with Damana’s mission to capitalise on digital transformation, are aimed at reducing insurance processing times by...
Najm Insurance Services, in association with Oxford Business Group has launched a report on the impact of COVID-19 on the insurance sector in the Kingdom of Saudi Arabia. The COVID-19 Response Report (CRR) highlights the national response to the challenges of the pandemic and examines KSA’s macroeconomic position before the...
The Capital Market Authority and the Central Bank of Oman considered the possibility of providing facilities and adequate flexibility for the loans of the Omani employees who retired under the Diwani Circular No. 6/5/2020, which instructed to retire not less than 70 percent of the Omani employees working for the...
Emirates Steel has named Etihad Credit Insurance (ECI) as its credit insurance partner to provide export credit protection to its global exports. Emirates Steel has signed with ECI for a comprehensive trade credit insurance package, which will protect Emirates Steel against commercial risks of its customers such as insolvency, payment...
A recent webinar discussed sustainability and role of insurance during the pandemic. The Insurance Authority recently organised a virtual forum on the theme ‘Shaping the Future of the Insurance Sector After COVID-19 Crisis’. While giving the inaugural address Ebrahim Obaid Al Zaabi, director general of the Insurance Authority (IA) said...
Moody’s Investor’s Service has commented on the signing of an exclusive reinsurance contract by Saudi Re with the Saudi Arabia insurance industry. The contract states that Saudi Re will provide coverage to all insurers participating in the inherent defects coinsurance program. Whilst this large reinsurance contract will strengthen Saudi Re’s...
The Middle East edition of the global festival for this year’s Diversity and Inclusion (Dive In) event is set to be held with a focus on cross-generational working in the insurance sector. The event is a Lloyd’s initiative which is supported by the Chartered Insurance Institute and organisations including Kennedys,...
