Insurance House PSC (IH) Annual General Meeting approved the distribution of a one percent cash dividend to its shareholders for the first time since inception while presenting its positive financial results for the year ended 31 December 2018. In his address to the shareholders, Mohammed Abdulla Alqubaisi, chairman of the company, said:...
The Emirates Institute for Banking and Financial Studies (EIBFS) organised a total of 1,043 educational and training programs during 2018, an increase of six percent over 2017. The initiatives successfully trained 26,206 participants of which 6,489 comprised UAE nationals. During the past year, the Institute conducted 616 programs in the...
Dubai plans to reduce insurance costs and expedite government payments to small and medium-sized enterprises (SMEs) in an effort to revive economic growth in the Middle East’s trade and business hub. The reduction in insurance costs for SMEs will not affect their eligibility for government tenders. The government will also...
The Capital Market Authority, the regulator for the insurance sector in Oman recently held an Arab symposium on ‘Health Insurance and Challenges’ in collaboration with the General Arab Insurance Federation. The symposium discussed a number to topics related to digital transformation of the health insurance sector, sustainability of the health...
Amidst the strained relations between Qatar and the United Arab Emirates, Oman Insurance was recently prohibited from selling and issuing insurance policies. Dubai-based Oman Insurance announced recently in the Dubai Financial Market that the Qatar Central Bank had rejected the Company’s application to open a branch, effectively prohibiting the insurer...
The Egyptian provider of financial Solutions Sarwa Capital has obtained licences to offer life and non-life insurance products. Sarwa’s subsidiaries, Sarwa Life Insurance Company and Sarwa Insurance company, have a capital of EGP100 million (USD6 million) each. The first objective sought by the two new entrants is to introduce the...
Fidelity United, organisation that came into existence from the partnership between United Insurance Company and Fidelity Assurance and Reinsurance SARL, has put forth a financial statement for the year 2018. According to the statement, 2018 has turned out to be profitable, being the first year of the turnaround phase. The...
The Kuwait Ministry of Health has collected over KWD110 million in health insurance from expatriates during the past year, reported Arab Times. According to informed sources, KWD62.5 million was collected in cash and KWD41 million through the state revenue stamps machines available at the health insurance centres in Fahaheel, Al-Sabah...
Independent financial advisory organisation deVere Group has announced that it has acquired Credence International, a UAE-based wealth management and advisory company. Nigel Green, the founder and chief executive of deVere Group, was recently presented as the new owner of Credence International to the 26-strong team at their offices in Dubai....
Bupa recently announced the completion of its acquisition of Acıbadem Sigorta, Turkey’s second largest health insurer. Acıbadem Sigorta is a specialist health insurance provider with both corporate and individual customers. Headquartered in Istanbul, it has over 500 employees and covers 600,000 lives. In 2017 Acıbadem Sigorta generated gross written premiums...
