The Islamic Arab Insurance Company PSC (Salama) has confirmed that the initial approval for an intended merger between the company and Takaful Emarat has been obtained by the Central Bank of the United Arab Emirates. Both companies are working to fulfil all legal and regulatory requirements to complete the merger,...
XA Group has launched Addenda, a Blockchain-based, end-to-end digital solution in the UAE that enables insurers to reconcile motor recovery receivables between each other, putting an end to a decades-old industry challenge. Motor insurance recoveries between UAE insurers have posed a significant financial burden on the sector, and as a...
Chedid Direct Limited, a company of Chedid Capital, announced an agreement to further extend its international insurance offering with the strategic acquisition of a majority stake in MMR Holding Limited, a company based in the Abu Dhabi Global Market and the owner of BuyAnyInsurance (www.buyanyinsurance.com). This transaction offers MMR Holding...
The Saudi Central Bank (SAMA) and the Central Bank of the United Arab Emirates signed a Memorandum of Understanding (MoU), which aims at establishing a general framework for cooperation activities in the field of supervision and control within the insurance sector in both countries. The signing ceremony took place on...
Dr. Abdulrahman Al Awar, minister of Human Resources and Emiratisation, has issued the Ministerial Resolution No. 318 of 2022 regarding bank guarantees and employees’ protection insurance scheme in the private sector. This decision is in line with the legislative framework that aims to preserve workers’ rights, support the business community,...
Bahrain National Insurance (bni), Bahrain National Life Assurance (bnl) and The Collective Hub Powered by Tenmou, have announced the signing of a tripartite memorandum of understanding (MoU) to offer tailored insurance solutions to the latter’s startup and investor community. The signing ceremony was carried out by Nawaf Al Kooheji, chief...
Bahrain National Insurance (bni) has announced the launch of Bahrain’s very first ‘Pay-Per-Mile’ insurance cover which offers low mileage drivers affordable car insurance based on how much they drive their insured vehicles. The insurer said ‘Pay-Per-Mile’ is an ideal solution for drivers who have low annual mileage, multiple cars, or...
Amana Cooperative Insurance Company (Amana) has announced in a bourse filing the signing of a non-binding Memorandum of Understanding (MoU) with Allied Cooperative Insurance Group (ACIG) on to evaluate a potential merger between the two companies. Both companies will conduct technical, financial, legal and actuarial due diligence and engage in...
Sanlam has announced the launch of its brand to the Ghanaian market, rebranding SAHAM Insurance Ghana to Sanlam Insurance Ghana. The rebranding will apply to the life and general insurance businesses, Sanlam Life Insurance Ghana Limited and Sanlam General Insurance Ghana Limited, respectively. The move supports Sanlam’s strategy to deliver...
Estafsar, an Egyptian insurtech, has launched a game-changing technology using digital tools that integrate all stakeholders in the insurance industry into one digital network to bring transparency and scalability. The startup launched in March 2022 with a mission to increase the financial protection of Egyptian consumers and companies. Estafsar’s tech...
