Financial solutions provider swissglobal has announced the acquisition of insurance solutions provider Premium Insurance. The acquisition furthers swissglobal’s momentum as the brand accelerates its footprint in regional markets across the Middle East. Premium Insurance has served a roster of international clients through its UAE base to deliver a portfolio of life, medical...
Abu Dhabi National Takaful Company (ADNTC) has reported a 19 percent year-on-year growth in net profit during the second quarter of 2018, registering AED48.6 million. Meanwhile, technical profit recorded AED60 million in Q2-18, up nine percent from the year-ago period, according to a statement. “Our underwriting profit of AED36.4 million for...
Wafa Assurance has announced that its profits are expected to be slashed by 25 percent in the first half of 2018, compared to the figures released in the previous year, according to a Reuters report. The company estimates profits would be about AED400 million while the insurance losses hit AED240...
The General Pension and Social Security Authority confirmed that registration and subscription for the UAE national employees in any of the public and private sectors represents the first step towards completing the period required for obtaining future pension benefits. This was announced at a workshop held to educate the employers...
Solidarity Bahrain has announced its partnership with Skiplino Technologies for the company’s queuing solutions. The tie-up will provide Solidarity customers the possibility to queue ahead of their arrival at the branch, keep them updated on the estimated time to reach the branch and the status of the queue. The signing...
Bahrain-based SNIC Insurance has seen a 15 percent increase in underwriting result at BHD370,000 for the first half of 2018 when compared with BHD320,000 for the same period of 2017. A statement said the gross premiums written stood at BHD5.72 million in 2018 in comparison with BHD6.91 million for the...
Insurance House has posted a net profit of AED6.63 million (USD1.8 million) for the first half (H1) of 2018, which is more than triple the net profit of AED2.11 million registered during H1 2017. Gross premiums written during the first half of 2018 weighed in at AED124.59 million compared to...
Abu Dhabi National Insurance Company (ADNIC) recently announced the approval of the UAE’s Securities & Commodities Authority (SCA) to repurchase 10 percent of its shares. The Abu Dhabi-listed insurer said that the deadline of the share buyback ends on August 13, 2019, while the repurchased stocks are to be sold...
Batelco will pump BHD850,000 into the National Health Insurance Programme (Sehati). Supreme Council for Health president Dr. Shaikh Mohammed bin Abdulla Al Khalifa recently signed the agreement with Batelco chairman Shaikh Abdulla bin Khalifa Al Khalifa. Senior SCH officials and Batelco executive management attended. The contribution will go towards supporting...
The Public Authority for Manpower’s Workers Union, Kuwait, recently signed a memorandum of cooperation with the National Life and General Insurance Company, in order to provide health assurance for workers at all hospitals and private clinics contracted with the company in Gulf Cooperation Council and East Asian countries. Labour union...
