Takaful provider Islamic Arab Insurance Company (SALAMA), announced its audited financial results for the year ended 31 December 2019, reporting a net profit of AED55 million. The Gross Written Premium grew by 6.25 percent to reach AED1,106 million in 2019 compared to AED1,041 million in 2018. SALAMA’s focus on improving the...
M&A in the Middle East continues to bump along at a low level, according to Clyde & Co, in a report titled ‘Insurance M&A Growth Report 2020’. The report states that although there was anticipation that new regulatory requirements to increase capital in jurisdictions and pressure from regulators across the...
To ensure that all its UAE members have continuous access to professional medical advice during the COVID-19 pandemic, Aetna International has announced it will extend the access to its virtual healthcare services, vHealth, for a period of 90 days. Launched in 2018 for Aetna International members and in line with...
Dar Al Takaful PJSC has entered into exclusive negotiations to acquire Noor Takaful General PJSC and Noor Takaful Family PJSC. The company announced in a bourse disclosure that it has executed a condition offer letter with Noor Investment Group LLC and Noor Bank PJSC to acquire 100 percent shares of...
Etihad Credit Insurance (ECI) has partnered with the Saudi Fund for Development (SFD) for financing and providing credit insurance to protect non-oil exports of the UAE and Saudi Arabia. Stressing on how the collaboration between ECI and SFD could be beneficial for Saudi exporters and UAE-based businesses, Massimo Falcioni, CEO...
The Central Bank of Bahrain recently issued a comparison between the benefits of the Unified ‘Own Damage’ Motor Policy (Comprehensive) and other previous policies. For private vehicles, an amount of BHD50 will be calculated as a compulsory excess amount if the value of the vehicle is BHD20,000 or less, and...
Dhaman Hospitals Company CEO Dr. Mohammed Al-Qenae has said meetings with the ministry of health are ongoing to finalise the health insurance system and to begin implementing further phases of development. Expatriates will avail of the services by obtaining insurance worth KWD130. Two Dhaman centers have been completed in Hawally...
The Council of Ministers of Jordan has approved the executive plan for comprehensive health insurance, Health minister Saad Jaber said recently. During a media briefing following a Cabinet session earlier in the day, Jaber said that the plan would be implemented in phases, expecting that all citizens in the Kingdom...
International General Insurance Holdings Limited (IGI) recently announced that it has received regulatory approval from the UK Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) in connection with its previously announced business combination with Tiberius Acquisition Corporation, a publicly traded special purpose acquisition company. The PRA approval was received...
InsurTech start-up Democrance has joined forces with AXA Gulf to launch a new personal accident insurance scheme for customers of the international money transfer service Hello Paisa. Under the partnership, UAE residents remitting money to their home countries in the Middle East, Africa and Asia are now covered by AXA’s accident and disability...
