GWM have announced that Suzerain Investment Holdings Ltd (Suzerain) will become a controlling shareholder of the GWM Group, by the end of April 2020, subject to final regulatory approval. The transaction is a two-part deal, with the conversion of debt to equity, and the sale of shares by the existing...
The Insurance Authority has decided to move the implementation of life insurance and family takaful by six months starting from 16 April 2020. The regulator sent out a circular to this effect to the industry which stated that amendment to the implementation period for IA BOD (49) of 2019 concerning...
The Moroccan Federation of Insurance and Reinsurance Companies (FMSAR) has announced the extension of insurance policy renewal periods until April 30. Motorists whose insurance policies have expired after March 20 can still use them till April 30, according to the FMSAR, in consultation with the Insurance and Social Security Supervisory...
National Takaful Company (Watania) has announced positive financial results in 2019, as the company’s net profit increased to AED13.1 million, compared to AED9.4 million dirhams in 2018. While announcing the financial results of the company, Dr. Ali Saeed Bin Harmal Al Dhaheri, chairman of the Board of Directors of Watania...
With countries worldwide implementing lockdowns, work from home initiatives, social distancing and other precautionary and preventative measures, governments and businesses are disseminating more information than ever before via digital platforms, a situation cybercriminals are exploiting, Simon Fisher, executive vice president – Gulf, ACE Insurance Brokers, has cautioned. “While very few...
Aetna International has announced that SME employer plan sponsors in Europe, Middle East and Africa renewing their Summit group health insurance policies from 1 May 2020, to on or before 1 July 2020, will receive one month of free health cover, as part of Aetna’s ongoing efforts to alleviate financial...
NAS and Neuron, in partnership with Kings College Hospital, Mediclinic, and Prime, have launched its complimentary tele-health network service to offer members revolutionary teleconsultation services during critical times triggered by COVID-19. Teleconsultation is a cutting-edge solution that provides people the opportunity to consult and communicate with their doctor without having...
Gulf Insurance Group (gig) announced a net profit of KWD8.1 million (USD26.7 million), or 45.32 fils per share, for the first half of 2019 compared to a net profit of KWD6.6 million (USD21.7 million) for the same period last year, an increase of KWD1.5 million (USD5 million) or 23.2 percent....
The Saudi Arabian Monetary Authority (SAMA) has announced the issuance of Actuarial Work Regulation for Insurance to replace the Regulations for Actuarial Acts of Insurance and/or Reinsurance Companies. Actuaries are critical for the proper operation of insurance and re-insurance companies, performing a key role in product design and pricing, financial...
The Capital Market Authority has issued a circular to all insurance companies, brokers and agents urging them to take a number of precautionary measures as part of the instructions of the Supreme Committee tasked with handling the developments resulting from the outbreak of the Novel Coronavirus (COVID-19). CMA called on the...
