Dubai is set to launch the world’s first vehicle database, according to an announcement by the Dubai Future Foundation (DFF). A Dubai 10X Initiative – a venture overseen by the DFF, the Roads and Transport Authority (RTA) showcased the project recently at the World Government Summit, which was approved by...
Nexus Group has decided to exit its Singapore market operations. The company set up in 2015 after buying out the operations of Zurich Life Insurance Pte. Nexus Group chief executive Tarun Khanna said: “Nexus’s decision to launch into Singapore was based on strong synergies between our offerings in that market,...
Aljazira Takaful Taawuni Co has reported a 7.3 percent year-on-year rise and an 18.39 percent quarter-on-quarter surge in net profit for the fourth quarter of 2017. Net profit stood at SAR8.09 million in Q4-17, up from SAR7.53 million in the same period a year earlier, according to a filing to...
A soon-to-be enforced traffic law has the insurance industry in Kuwait concerned. The decision of Ministry of Interior to issue Article No. 41 of the Traffic law which allows issuance of reconciliation order for minor traffic accidents has insurers expressing much concern. According to the law, the victim of a...
Farqad Abdullah Al-Sane, chairman of Gulf Insurance Group (GIG) announced that the organisation achieved a net profit of KWD10.3 million (USD34.1 million), or 57.48 fils per share for the financial year ended December 31, 2017, compared to KWD12 million (USD39.8 million) in 2016 with decrease of 14.3 percent. The Group’s...
Abu Dhabi National Insurance Company (ADNIC) has announced its financial results for the year 2017. The Company reported strong results with its net profit of AED227.3 million for 2017, representing an increase of 11 percent over the same period last year. According to the financial results, in 2017, ADNIC’s gross...
The Ministry of Foreign Affairs and International Cooperation (MoFAIC) in cooperation with the National Health Insurance Company, Daman, has launched the “Traveller” programme, to provide emergency health insurance coverage for UAE nationals abroad, which is the first local and international programme of its kind. The programme was created to provide...
Abu Dhabi National Takaful Company (Takaful) has reported a 267 percent increase in net profit during the fourth quarter of 2017 to AED12.48 million, compared to AED3.4 million in the same period in the previous year. The company’s net profit surged 23.51 percent to AED59.78 million in 2017 from AED48.4...
Dental and gum treatment as well as one-time teeth cleaning during policy period will be covered in the new cooperative health insurance bylaws which will be implemented in July 2018, according to an announcement made by the Council of Cooperative Health Insurance (CCHI) recently. The new insurance bylaws also allow...
In a step to fight obesity in Saudi Arabia, the Saudi Health Insurance Council announced the addition of new benefits to citizens’ standard insurance policy, which will include weight loss surgeries like gastric bypass. The budget for these new additions is SAR500 million (USD133 million) per person and will be...
