Allianz and industrial group Imperium Holding launched Emob, a sustainable development solution firm in Morocco. In the coming years, this joint-venture will build an electric and less polluting cars and bikes’ production unit. With this new company, the German insurer wants to position itself in the cars and bikes insurance...
Japan International Cooperation Agency (JICA) Egypt Office recently organised its third seminar in Egypt on Universal Health Coverage in the presence of Yoshifumi Omura and a number of officials from the Ministry of Health, Ministry of Finance, Health Insurance Organisation, World Bank and World Health Organisation (WHO), etc. The Egyptian...
Kuwait Petroleum Corporation (KPC) intends to grant life insurance to its employees and those working in its subsidiaries at a total cost of about KWD12 million which is equivalent to USD40 million, reports Alrai daily quoting sources. Sources clarified the current insurance policy of KPC for the oil sector staff...
The Board of Directors of Public Institute for Social Security has decided to raise the ceiling of the supplementary insurance to KWD1,500 per month and to determine the salary of those who are subjected to compulsory insurance at a rate of KWD1,250 per month, reports Al-Qabasdaily. In its decision, the...
The Omani French Friendship Association (OFA) recently organised a seminar to discuss the evolution of insurance industry in the Sultanate of Oman. The event was attended by a number of industry officials from the sultanate and representatives of Oman Chamber of Commerce and Industry (OCCI). Speaking at the event, Houssam...
The Emirates Securities and Commodities Authority (ESCA), the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) and the Dubai Financial Services Authority (DFSA) has announced that, following the enactment of relevant legislation and rules, a new fund passporting facility is available. This passporting facility, which has been the subject of extensive...
A first in the UAE, Emirates NBD’s lifestyle digital bank Liv.’s has tied up with RSA to offer a paper-free process from purchase of policy to claims, all via the Liv. App. “Millennials can’t live without their phones and we have created a unique offering that provides customers with solutions relevant...
Mediterranean and Gulf Cooperative Insurance Company (Medgulf) won the Saudi Re Insurance Cricket League 2019, defeating Alinma Tokio Marine Company (ATMC). The tournament featured eight insurance companies operating in Saudi Arabia. The league was organised by Raza Haider (Alinma Tokio Marine) and sponsored by Saudi Re. The star of the...
Despite pressures coming in threefold, UAE’s financial advisors remain positive according to a report. Pressures have come from three directions, according to the ninth edition of the Middle East Investment Panorama by Insight Discovery. Numbers of wealthy expats have fallen, in part because of unfavourable geopolitical developments involving Qatar and...
Wafa Assurance, the insurance branch of Morrocan bank Attijariwafa Bank, issued a profit warning on its 2018 results on March 1, 2019. Its managers expect MAD600 million of net profit. This is the poorest performance ever recorded by the insurer since 2015, according to a report by Ecofin Agency. According...
