Morocco will soon complete implementation of a series of programs to enable financial inclusion, social protection, digital transformation, aided by financial support from the World Bank. Recently at a regional meeting of the International Labour Organisation, minister of Labor Mohamed Amakraz declared that the country was in the process of implementing works...
The Abu Dhabi National Oil Company (ADNOC) has announced that it has entered into an agreement with some of the world’s leading infrastructure investors and operators, sovereign wealth and pension funds. A consortium of investors comprising Global Infrastructure Partners (GIP), Brookfield Asset Management, Singapore’s sovereign wealth fund GIC, Ontario Teachers’...
The Insurance Authority recently ruled in a circular sent to the industry that the practice of capitation agreements would no longer be considered legal. The circular* stated such agreements were often misconstrued as a type of reinsurance agreement and therefore insurance companies often misinterpreted such agreements in their financial statements....
Sheikh Abdullah Salim Al Salmi, executive president of the Capital Market Authority has said that a number of insurance companies have contributed to the fund for support of health services (Waqf Fund) which aims to provide healthcare in the current circumstances. He praised the initiative of the insurance companies to cover...
National Takaful Company (Watania) PJSC has launched its online customer portal to underwrite policies. It provides a non-touch and paperless environment to get a policy online and that too in less than 4 minutes. Murali. A, head of Motor in Watania said, “E-commerce is set to position itself as the...
Oman Chamber of Commerce and Industry (OCCI) has recommended the introduction of a comprehensive insurance policy package to help investors and promoters of private schools and nurseries in the Sultanate to secure their investments and assets, as well as protect their liabilities, against all kinds of the risks – natural...
A joint board meeting between Atlanta Assurances and its subsidiary Sanad Assurances that took place recently confirmed a merger between the two companies with Atlanta controlling 99.96 percent of Sanad shares. Groupe Holmarcom, owner of the two firms, stated that the move will enable the insurance service company to bolster its...
Dar Al Takaful PJSC (DAT), announced recently that the company had entered into a legally binding share purchase agreement with Noor Investment Group LLC and Noor Bank PJSC to acquire Noor Takaful General PJSC and Noor Takaful Family PJSC in a cash transaction estimated to be worth AED215 million. According...
Tata Asset Management Limited (TAML) has set up an office in the Dubai International Financial Centre (DIFC). Tata Asset Management is one of the earlier asset management companies in India and is a part of the Tata group that have revenues of USD113 billion (2018-19). Headquartered in India, the Tata...
Following very closely the situation of the distribution network and the difficulties linked to the state of health emergency, the FMSAR and FNACAM are mobilising to help intermediaries weakened by the COVID pandemic 19. This emergency measure has already been materialised by the activation of a line of credit by...
