Landlords must insure all apartment buildings in one of Bahrain’s most densely populated areas. The rule has been introduced in the Northern Governorate and requires property owners to insure multi-storey residential buildings for fires and other emergencies. However, the rule does not apply to private homes, such as villas, or...
Lloyd’s marketplace officially inaugurated a new office in Casablanca Finance City, after securing trading rights for the North Africa market in September 2017, according to a press release. Lloyd’s CEO Inga Beale said: “We are delighted to open our office in Morocco today as we believe that Africa is the...
Ministry of Commerce and Industry assistant undersecretary Abdullah Al-Awais said that a higher committee would study and develop the insurance industry in Kuwait, headed by representatives of the Ministry and with the membership of all sectors and government parties involved. In his speech on behalf of minister of Commerce and...
Gulf Insurance Group (GIG) announced a net profit of KWD3.3 million (USD11.1 million) for the financial period ended March 31, 2018 compared with KWD2.6 million (USD8.7 million) for the same period last year with an increase of 28.5 percent. Gross written premium reached KWD82.2 million (USD274.5 million), with an increase...
Lockton Middle East and North Africa (MENA) has continued regional expansion with the launch of its new Cairo office as the business looks to take advantage of the strengthening Egyptian economy. The new office, will be led by Mohamed Magdi Omar who joins the business bringing with him a powerful combination of local and sector knowledge...
The Dubai Islamic Insurance and Reinsurance Company, (AMAN), recently held its annual general meeting (AGM) at the Dubai Chamber of Commerce and Industry. The AGM was chaired by Dr. Mohamed Ali Khamis Al-Hosani, Deputy Chairman of the company’s Board of Directors, and fellow board members, Abdurrahman Ahmad Abdullah Sinan and...
Cigna Corporation announced the launch of its group health plan in Lebanon. Aligned with Cigna’s efforts to serve employers in Lebanon, the plan allows clients to offer their employees access to personalised products, 1.5 million medical providers worldwide, 24/7 customer support, multilingual call centres across nine global locations, and convenient...
Abu Dhabi National Insurance Company (ADNIC) announced its financial results for the first quarter of 2018. The Company reported strong first quarter with net profit increased by 28.6 percent to AED95.2 million. Commenting on the strong results, Sheikh Mohamed Bin Saif Al-Nahyan, chairman of ADNIC, said: “I am delighted that...
Further to an announcement on the Saudi Stock Exchange website regarding start of initial understanding with Walaa Cooperative Insurance Company to study economic feasibility on merger of the two companies, Al-Sagr Cooperative Insurance Company has announced the signing of a non-binding memorandum of understanding (MOU) with Walaa Cooperative Insurance Company...
Qatar Reinsurance Company Limited (Qatar Re) has announced its intention to suspend the writing of all new and renewing facultative business from its branch office in the Dubai International Financial Centre. Distribution throughout the MENA region will continue to be provided by the QIC Group’s existing operations in Doha, Dubai,...
