Arig reported consolidated net loss of USD22.4 million attributable to shareholders for the first half of the year 2018, (half-year 2017: net profit of USD4.1 million). The negative result is mainly due to the creation of a provision of USD21 million related to Arig’s subsidiary, Gulf Warranties W.L.L. This provision...
Cigna’s 2018 360o Well-Being Survey – Future Assured explored people’s perceptions and concerns for their health and their sense of well-being across physical, family, social, finance and work parameters. According to the survey, the UAE experienced a slight decline in overall wellness during the previous year, dropping 1.6 points from...
The Capital Market Authority hosted a seminar on the National Training Fund to familiarize the industry with the training services offered by the Fund and the cooperation measures available for training and qualification of national cadres working for public and private sector institutions. Rashid Mohammed Al Rashdi, director of Insurance Institutions...
The recent circular issued by the Council of Cooperative Health Insurance (CCHI) for all health insurers, healthcare providers and TPAs on the new claims settlement process that will come into effect in October of this year, was summarized by Clyde & Co. According to the authors Wayne Jones, partner, Saud...
Invita BPO, has launched the first motor third party administrator in Bahrain. Invita Claims Management Company B.S.C was recently licensed by the regulator, the Central Bank of Bahrain to operate as a TPA. The company will function essentially as an insuretech compay that leverage online channels to improve claim filing...
The Capital Market Authority is on course to implement the decision of the Council of Ministers in collaboration with the entities concerned with implementation of the compulsory health insurance scheme for the employees of the private sector, expatriates and visitors. The CMA has milestones set for implementation of the health...
Bahrain has announced that the National Health Insurance programme will officially take effect in 2019. In a recent meeting held by the Supreme Council for Health and the National Health Regulatory Authority president Dr. Shaikh Mohammed bin Abdulla Al-Khalifa said that Bahrain is now drawing the national health insurance project,...
AXA will offer insurance plans for drivers and delivery partners in Saudi Arabia in partnership with Uber. Drivers will be compensated for financial cost of injury, including medical expenses or lost earning opportunities due to accidents while driving or delivering using the Uber app, the company stated. “The introduction of...
The Insurance Authority, the regulator of the UAE insurance industry has launched the 2017 highlights of the sector. The gross written premium for 2017 equals AED44.8 billion, showing 12 percent growth compared to the gross written premiums of AED40 billion in 2016. The gross written premium in non-life insurance is...
Abu Dhabi National Insurance Company (ADNIC) announced its financial results for the first half of 2018. ADNIC reported a net profit of AED 150.5 million for the period, up 17.1 percent year-on-year. Commenting on the strong results, Shaikh Mohamed Bin Saif Al-Nahyan, chairman of ADNIC, said: “On behalf of the Board...
