The Saudi Central Bank (SAMA) has sought public consultation on the draft “Rules for Loss Adjusters and Loss Assessors. “In the interest of transparency and wider participation, SAMA invites stakeholders and public to provide suggestions and observations on the draft by visiting the Public Consultation Platform with the National Competitiveness...
The Saudi General Insurance Committee has announced that the sixth Saudi Insurance Symposium will take place from 28 to 29 September 2022. Held under the patronage of Dr. Fahd bin Abdullah al-Mubarak, governor of the Central Bank of Saudi Arabia, the symposium is set to be hosted at the Four...
The Capital Market Authority has issued Decision no. (107/2022), a regulation for managing the health insurance claims revenue cycle, which aims to organise the documentary cycle and provision of filing, following up and processing of insurance claims on behalf of the health service provider. The regulation includes the necessary rules...
The total premiums of insurance companies listed in local financial markets in the first half of 2022 increased by 7.64 percent year-on-year, equivalent to AED1.11 billion, while their net profits totalled AED817.8 million. According to the disclosure reports of 28 national insurance companies, the total value of premiums increased from...
GIG Gulf has launched EasyClaims – a purely-digital real-time end-to-end motor claims platform, and the first such service to be made available across four major GCC markets – the UAE, Qatar, Oman and Bahrain. EasyClaims is a new online journey that allows GIG Gulf customers to immediately register their motor...
Dubai National Insurance (DNI) has tied up with Al Madallah Healthcare Management, a fast growing Third Party Administrator (TPA) in the country offering innovative medical claims management services. Through the agreement, Al Madallah will administer DNI health insurance plans as a TPA and the partnership reinforces both entities commitment towards...
Dubai National Insurance (DNI) has entered into an agreement with InsuranceMarket.ae according to which the broker will administer DNI’s pedal cycle product as a collaborator. Abdulla Al Nuaimi, CEO of DNI said, “The UAE has become a sought-after cycling destination because of its steadfast support for the cycling community. Fulfilling...
Saudi Reinsurance Company (Saudi Re) has announced its financial results for the first half of the current financial year 2022 with improved operating results by eight percent compared to the previous year registering SAR24 million (USD6.39 million). The Company recorded a gross written premium (GWP) of SAR920 million (USD244.95 million)...
The Mohammed Bin Rashid Innovation Fund (MBRIF), an initiative launched by UAE Ministry of Finance to support nationwide innovation, has announced it has provided funding support to Bayzat as part of its Guarantee Scheme. Bayzat will use the fund secured with MBRIF’s guarantee, to expand its workforce with a focus...
Dar Al Takaful (DAT) reported its interim financial results for the financial year 2022. This is the last quarter for DAT’s independent financial reporting with the Dar Al Takaful PJSC, the combined listed entity on DFM, set to report its consolidated financials starting from the third quarter this year. According...
