AM Best has revised its market segment outlook on the insurance markets of the Gulf Cooperation Council (GCC) to negative from stable. Key factors that led to the outlook change outlook include the economic downturn across the region stemming from lower oil prices and COVID-19 containment measures; the expectation of lower...
Dubai International Financial Centre (DIFC) has signed a memorandum of understanding (MoU) with EC3 Brokers to implement a Group Health Insurance Master Policy. The Group Health scheme will be available to over 2,400 active registered firms in DIFC who provide health insurance to their 25,600 professionals. It is the first...
A YouGov survey of 1,000 residents in the UAE, commissioned by Zurich International Life Limited (Zurich) has revealed the top financial priorities for individuals in the wake of COVID-19. Almost 5 in every 10 respondents indicated that life insurance was increasingly important to them in the current environment. A similar...
The performance of environmental, social and governance (ESG) funds during the COVID-19 pandemic and their alignment with government visions in the GCC make them a compelling choice for investors in the Middle East, according to Aberdeen Standard Investments (ASI). In the first quarter of this year, the COVID-19 pandemic prompted...
National Takaful Company PJSC (Watania) recently announced in a bourse filing of the purchase of 4.9 percent stake amounting to AED5.88 million in Dar Al Takaful, listed on Dubai Financial Markets. The investment is expected to generate investment income by way of capital appreciation and dividends in the future. The...
MetLife Gulf has announced the launch of a Health Talk Show series to support its customers and the broader Gulf community. The current global health crisis has left many confused, overwhelmed and worried about their health, wellbeing and future. A surge in health information over countless platforms has contributed to...
RSA Insurance announced recently that it will be giving people on the frontline of the COVID-19 response a concession on their motor insurance as a way of saying ‘Thank you’ for the support they have been providing to the public. RSA is also extending the concession to the elderly, people of determination...
UAE-based insurtech company Democrance has joined forces with AXA to improve financial inclusion and accelerate the development of insurance and protection services that cater to the needs of the low- and middle-income classes across several countries including Thailand, Mexico, Egypt and the Gulf. Together with Democrance, AXA is providing insurance via...
Financial advisers still have a poor reputation, according to the tenth edition of the Middle East Investment Panorama (MEIP), released by Insight Discovery. The report includes findings from two separate surveys, conducted amongst both consumers and financial advisers. In the consumer survey, financial advisers were ranked fifth in the reputation survey....
Moody’s Investors Service has revised its assessment of the risks facing insurance companies in Gulf Cooperation Council (GCC) countries to “high” from “moderate” over the next 12 to 18 months, as the coronavirus-induced economic downturn exacerbates pressure on the sector. Lower premiums will increase already intense competition in the GCC...
