Insurance broker and risk advisor Marsh has announced that it intends to exercise its option to acquire the majority of shares in Beassur Marsh, a leading insurance broker in Morocco. The announcement follows Marsh’s acquisition of a stake in the business in June 2019. Terms of the transaction were not...
CoverGo, a global no-code insurance SaaS platform for P&C, health, and life, is expanding to the Middle East after a USD15 million Series A funding, with a Middle East insurance fund Noria Capital joining as one of the strategic investors. CoverGo has recently established its presence in the Dubai International...
Further to the release of an earlier draft of comprehensive motor insurance rules for public feedback, the Saudi Central Bank (SAMA) has announced the issuance of the Comprehensive Motor Insurance Rules. The rules aim to regulate the contractual relationship between the insurer and the insured by standardising the minimum coverage...
The Central Bank of the UAE (CBUAE) recently organised an Insurance Sector CEO Forum in Abu Dhabi, a meeting aimed at enhancing the dialogue between the CBUAE and the insurance sector, through the coordination with the CEOs of insurance companies to address the priorities of the sector. Khaled Mohamed Balama,...
Etihad Credit Insurance (ECI) held its third meeting in 2022, chaired by Abdulla bin Touq Al Marri, UAE minister of Economy and chairman of the Board of Directors of ECI. The meeting focused on the review of a series of ECI’s comprehensive programmes and initiatives, which are aligned with the...
Dubai National Insurance (DNI) has partnered with Neuron and UK-based reinsurance company AXA PPP healthcare Limited to ensure a more extensive portfolio and seamless integration of benefits to offer more value-added and high-quality services to customers in the Middle East. Abdulla Al Nuaimi, chief executive officer, DNI, said, “We are delighted...
Insurance and other risk transfer and financing mechanisms will become increasingly important in managing catastrophic risk as countries transition to more climate-resilient economies. This is according to experts at the “Adapting to a changing climate in the management of catastrophic risks in Egypt” conference that took place on November 3,...
Chedid Re, a member of Chedid Capital Holding, has announced the expansion of its network and launch of its reinsurance and insurance brokerage operations in France after receiving a license for to set up a branch in Paris. Farid Chedid, chairman and group CEO of Chedid Capital expressed his pride...
Dubai Islamic Insurance and Reinsurance Company PSC (AMAN) has announced in a bourse notification that the company has reached an agreement to sell the individual life insurance portfolio to Abu Dhabi National Takaful Company, subject to the approval of the Central Bank of the UAE and the Securities and Commodities...
Islamic Arab Insurance Company (Salama) has signed an agreement with the Abu Dhabi Department of Economic Development (ADDED) to provide its services on the ‘Investor Journey’ portal. Salama will join leading UAE public and private institutions in this initiative, which enables entrepreneurs and investors to apply for a wide range...
