Misr Insurance companies will be among 23 companies chosen for the first phase of the state IPO program, according to a statement from the finance ministry. Market value of the soon-to-be-listed companies stands at EGP430 billion, the statement said, adding that the government intends to float about 15-30 percent of...
British insurer Aviva is considering acquisitions in Poland and Turkey, according to chief executive officer Mark Wilson. Reporting a two percent rise in operating profit, Wilson affirmed that the company planned on spending around GBP600 million on “bolt-on” acquisitions, especially in “Poland, Turkey, anywhere we have existing markets.” This includes...
The American International Group (AIG) has launched its first Shari’ah-compliant insurance policy in the MENA region, amid public confusion and expert concerns about takaful insurance in Morocco. Through the policy, AIG, a leading global insurance organisation, offers a range of market-leading Islamic insurance solutions for Merger and Acquisitions (M&A) transactions....
The Tunisian State, Al Karama Holding and the Portfolio Invest Company, the majority shareholders of Zitouna Bank and Zitouna Takaful have decided to proceed with the sale of a single block of shares representing 69.15 percent of the capital of Zitouna Bank and 70 percent of Zitouna Takaful by international...
The Kingdom of Saudi Arabia has published draft rules for foreign insurers and reinsurers wanting to establish branches in the kingdom, in the latest attempt by the government to woo international investment. SAMA has published Draft Rules of Licensing and Operation of Branches of Foreign Insurance and/or Reinsurance Companies in...
A long-term plan aimed at putting a cap on government medical spending by 2038 will start with the new national health insurance scheme. Supreme Council for Health (SCH) chairman Dr. Shaikh Mohammed bin Abdulla Al Khalifa said current annual public spending on health averaged BHD480 million with the government contributing...
Having raised a USD18 million from its corporate shareholders in a landmark Series A round of funding, Aqeed.com, an insurance aggregator in the region, is now live. Aqeed.com aims to offer customers transparency, accessibility and simplicity in understanding the insurance options most suited to them, as well as give them...
The National Health Insurance Company – Daman recently hosted the International Federation of Health Plans’ first expert panel in the UAE. Part of a series of specialised international panels, the two-day event gathered 15 senior representatives from international health insurance companies to discuss the latest trends and practices in combatting abuse, fraud...
Takaful Emarat has introduced a bold new corporate identity to reflect its growing business and digital transformation. The Company has launched the ‘tlife’ brand for its life and health business. The general insurance business, post completion of the acquisition of Al Hilal Takaful, will be rebranded as ‘tinsure’. Full details...
In his capacity as the Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and Prime Minister, has issued Decree No. 17 of 2018 establishing subsidiaries of the Dubai Health Authority, DHA. The new DHA subsidiaries established under the Decree are Dubai Healthcare Corporation and...
