Pan-African reinsurance company, ZEP-RE (PTA Reinsurance Company) recently called on companies to embrace technology and help expand access to insurance service. Hope Murera, managing director of ZEP-RE, said the insurance industry was ripe for innovation and that disruption through adoption of technology designed to achieve savings and efficiency was long...
The Company for Cooperative Insurance (Tawuniya) recently signed a contract with the Ministry of Hajj and Umrah to provide insurance services for foreign pilgrims. Revenues of the contract are expected to be greater than five percent of the annual gross written premium (GSP) of Tawuniya, according to the company’s statement...
Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah and Chairman of the Sharjah Executive Council, recently issued Decision No. 26 of 2019, amending Council’s Decision No. 19 of 2018 regarding the health insurance system in the Emirate of Sharjah. Decision No. 26 included...
Sanlam Ltd, the largest insurance company in South Africa may invest in Egypt in a year, according to the organisation’s CEO Ian Kirk. Following interim results that gained due to its pan-African strategy, Kirk told Reuters that Sanlam was interested in investing in an Egyptian firm, but had to find...
The National Center for Statistics and Information has announced that only one percent of the total policies issued are health insurance policies, while 75.4 percent of policies were attributed to motor insurance. While about 70 percent of mortality cases reported in Oman is due to non-communicable diseases such as diabetes,...
The Board of Directors of Al Ahlia Insurance Co. has agreed to reduce the organisation’s capital from SAR160 million to SAR123 million, a 23.125 percent decline. As the company’s shares will reduce from 16 million to 12.3 million, 3.7 million shares will be cancelled, stated a disclosure to the Saudi...
The Moroccan Federation of Insurance and Reinsurance Companies (FMSAR) has called on its Egyptian counterpart to resolve the delay in the case of a Moroccan branch in Cairo seeking a practicing license. The agreement was reached during the 26thAfro-Asian Federation of Insurance and Reinsurance (FAIR) Conference held in Marrakesh. Alaa...
In a bid to support the insurance industry in Turkey, the country’s treasury and finance ministry has established an organisation called the Turk Reasurans A.S (Turk Re). An official statement explained that the company was launched as a means to balance the economy and bring about healthy and sustainable growth...
Quilter Cheviot’s Dubai office has successfully secured a Category 4 licence, having previously operated within the DIFC as a representative office. The new licence will allow the team to advise and on-board new clients and service relationships on the ground, giving the team increased interaction with those interested in the firm’s...
The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a member of the Islamic Development Bank Group (IsDB), has announced that the Republic of Turkmenistan has joined the membership of ICIEC to become its 47th member country. Turkmenistan is home to nearly six million people and a...
