AXA in the Gulf launched new insurance services in collaboration with RISE, a fintech company that democratises access to financial services for migrant workers and domestic helpers. The new offering is powered by the Democrance digital platform and supported by AXA Emerging Customers. The initiative aims to improve financial inclusion and better serve the emerging...
Oman Insurance Company and Generali Global Pension, a part of Generali Group, have joined hands to offer a group savings and retirement insurance plan specific to the unique needs of UAE companies. The plan aims at supporting employers to manage their End of Service Gratuity (EoSG) liability with 100 percent...
Creative Zone, a Dubai-based business formation firm, has acquired a stake in insurance comparison platform InsuranceMarket.ae, owned by Afia Insurance Brokerage Services, which values the business at USD80 million (AED294 million). The deal is part of a strategic partnership to further the growth of an ecosystem to support start-ups, Creative...
Asia Capital Reinsurance Group Pte. Ltd. (ACR) announces that it will deregister its DIFC Branch (“Branch”) and serve the Middle East and Turkey market from its Singapore office. The Branch has ceased issuing new policies and servicing of ongoing policies has been transferred to ACR’s Singapore office. ACR says the...
Oman Insurance Company and Generali Global Pension, a part of Generali Group, have joined hands to offer GO Saver, a group savings and retirement insurance plan specific to the unique needs of UAE companies. The plan aims at supporting employers to manage their End of Service Gratuity (EoSG) liability with 100 percent capital protection...
The immense societal importance of healthcare and education-related sectors, including pharmaceutical and health insurance issuers, mean that these sectors tend to be extremely sensitive to demographic and societal pressures, including access and affordability. As a consequence, they are typically heavily regulated and exposed to shifting political and legislative agendas, according...
AXA in the Gulf launched new insurance services in collaboration with RISE, a financial technology (FinTech) company that regularises access to financial services for migrant workers and domestic helpers. The products is powered by the Democrance digital platform and supported by AXA Emerging Customers. This global initiative aims to improve...
The 2018 annual report by the Saudi Arabian Monetary Authority (SAMA) has indicated an underwriting result of SAR295 million, compared to SAR840 million in 2017. This has resulted in a net profit of SAR183 million in 2018 compared to SAR688 million in 2017. The Saudisation percentage in the insurance sector...
Tal Nazer, CEO of Bupa Arabia, announced that the company has recently joined the MSCI Tadawul 30 (MT30) Index, a joint tradeable index launched by the Saudi Stock Exchange (Tadawul) and MSCI to serve as the basis for Exchange-Traded Funds (ETFs). The index is designed to reflect the performance of approximately...
Oman’s mandatory universal health insurance for private sector employees, domestic workers and visitors to the Sultanate, may begin rolling out mid-2020. The system aims to provide affordable health insurance to private sector employees and domestic workers, as well as visitors to Oman, and will start with the electronic Dhamani system...
