Moroccan insurance company Wafa Assurance said it completed the acquisition of 65 percent of Cameroon’s Pro Assur. The transaction, taking the form of a share acquisition and capital increase, was approved by Cameroon’s and Morocco’s regulatory authorities, Wafa Assurance said in a statement. The deal is meant to help Pro...
“Insurance has not changed in many, many years and people are beginning to appreciate the need to do things differently and technology was reaching a maturity point where it made sense for us to combine the two,” said Shahid Safdar, managing director of Charles Taylor InsureTech for the MENA region....
Egypt’s new comprehensive healthcare insurance system does not set a spending cap on providing medical services to beneficiaries, according to finance minister Mohamed Maait. During a media briefing at the inauguration of the temporary headquarters of the General Authority for Health Insurance, Maait said the system was the pillar to...
Dubai-based fintech company FlexxPay and Nasco Middle East entered into a strategic partnership to create a solution to drive a significant modernisation in the world of employee benefits. The purpose behind the joint venture is to provide the remedy to a peculiar disconnection between continuous work and intermittent remuneration. To...
The Saudi Arabian Monetary Authority (SAMA) signed a Memorandum of Understanding (MoU) with the Dubai Financial Services Authority (DFSA) to develop mutual cooperation in banking and insurance supervision. The signing ceremony took place during a meeting between Dr. Ahmed bin Abdul Karim Al Kholifey, governor of SAMA and Saeb Aigner,...
A database for the medical insurance scheme (Dhamani) has been launched, according to the Capital Market Authority (CMA). In a statement, CMA said: “A database for Dhamani has been launched. This a preparatory step to generalise Dhamani, which is a key pillar for regulating the health insurance market.” The care...
The Dubai Health Authority (DHA) and the American Medical Association (AMA) announced an agreement that will support the standardised exchange of medical service data throughout the Emirate of Dubai. The agreement provides the DHA a licence to use Current Procedural Terminology, CPT, a comprehensive code set copyrighted by the AMA,...
Mubadala Capital recently announced an investment in Bayzat, a Dubai-based startup focused on automating HR administration, payroll processing and health insurance. According to a press release issued by Mubadala, the funds will include a USD150 million (AED550 million) “fund of funds” programme, which will invest in funds that are committed...
Abu Dhabi National Insurance Company, ADNIC, has partnered with Addenda Technologies, a blockchain technology start-up and DIFC FinTech Hive member, to bring new innovation to the claims process. ADNIC and Addenda Technologies began working together in 2018 through their involvement with DIFC’s FinTech Hive accelerator programme. A team of claims...
The Council of Cooperative Health Insurance (CCHI) of the Kingdom of Saudi Arabia has stated that the insurance policy for tourists reinforces health safety for tourists with a guaranteed basic insurance coverage throughout the country against emergency health conditions through a max benefit limit of SAR100,000. CCHI’s spokesperson Yasir Al-Maarik...
