Zurich International Life Ltd (Zurich) has launched a new digital capability to empower financial advisers and investors to manage their Zurich policy investments online. “At Zurich, we want to help our customers better understand the importance of rebalancing their investment allocation and fund holdings,” says Reena Vivek, COO at Zurich...
The UK-based Howden Broking Group recently launched its insurance broking business in Oman by joining hands with local business partner OTE Group. “We are very pleased to launch our broking business in Oman with OTE Group as our partner. We are basically a retail broker and we operate in 38...
Bahrain Kuwait Insurance Company (BKIC) announced financial results for the year ended December 31, 2017. The board also decided to increase the authorised capital from BHD10 million to BHD20 million. Net profit for the year ended 2017 decreased by 10 percent from BHD2.9 million in 2016 to BHD2.6 million in...
The motor insurance market in the Kingdom of Saudi Arabia is expected to grow by nine percent annually between 2017 and 2020, to reach SAR30 billion, owing to the addition of female drivers in the country. A royal decree announced recently that women would be allowed to drive by June...
A large insurance company that will be jointly founded by the Turkish Post and Telegraph Organisation (PTT) and Generali will operate insurance and individual pension systems in Turkey. Generali and PTT will form an equal partnership. Generali will cover the foundation financing and capital and PTT will invest its current...
Ali Saeed bin Harmel Al Dhaheri, chairman of the Board of National Takaful Company (Watania) has announced that the company has achieved 36 percent year-on-year growth in gross contribution, making a net profit of AED7.6 million compared to AED400,000 in 2016. Return on equity of nine percent, and the most...
Takaful Emarat has announced that net profit for the twelve-month period ended December 31, 2017, was AED18.8 million, up 25 percent from the company’s 2016 net profit of AED15 million. Mohammed Al Hawari, Executive Board member and managing director of Takaful Emarat, said, “During the course of 2017, we maintained...
The combined annual profit of the insurance companies listed on the UAE financial markets for 2017 increased to AED1.4 billion from AED900 million in 2016. The growth is attributed to increased pricing of premiums resulting from the updated unified insurance policy, which went into force effective January 2017, and strengthened...
Arabia Falcon Insurance Company (AFIC) has announced the opening of its initial public offering (IPO) for public subscription. Though the IPO, AFIC is offering 25.82mn shares at an offer price of 190bz per share (comprising a nominal value of 100bz, premium of 88bz and offer expenses of 2bz per share)....
Asset management firm Gulf Capital, has announced that it has acquired a majority stake in Accumed Practice Management, a revenue cycle management (RCM) company in the GCC. The company post acquisition will continue to deliver its services under the current leadership and will be looking to expand its management team...
