About 30,000 individuals will be the first Thiqa members to benefit from accessing healthcare facilities using just their Emirates ID this month. The figure is comprised of members whose health insurance policies are renewed between November 1, 2017 to November 30, 2017. The new initiative will eventually benefit all Thiqa...
Bahrain FinTech Bay (BFB), billed as the largest dedicated FinTech hub in the Middle East and Africa, is scheduled to open in February 2018. A joint venture involving the Economic Development Board (EDB) and FinTech Consortium Bahrain, the new hub aims to further the development and acceleration of Fintech firms...
Insurance Hospitals Company (Dhaman) CEO Dr. Ahmed Al- Saleh said according to ministry decisions, health insurance for expats will cost KWD130 (USD425) annually, which will cover primary and secondary healthcare. He was speaking at a ceremony for the construction of a new hospital. The ceremony was attended by the Health...
National Life and General Insurance (NLGIC) has said it has received an approval from Kuwaiti authorities to start its branch operation in Kuwait. It is the company’s second foray outside the Sultanate after the United Arab Emirates, stated a company release. “Kuwait is a potential market and we look forward to...
Insurance companies listed in Saudi domestic stock market earned additional profits worth SAR1.13 billion (USD349.3 million) during the first nine months of 2017. Twenty-three listed companies witnessed an increase in profits, six others witnessed a fall in profits, and four firms suffered losses. The 23 companies, whose profits grew in...
Howden Broking Group has announced the acquisition of a majority stake in New Generation Insurance Services LLC (NGIS) in Oman. The new entity will be renamed Howden Insurance Brokers LLC. The business will be lead by Rajiv Arora who joined Howden as CEO of the new company on August 15,...
Dhofar Insurance Company’s board is looking to convene an extraordinary general meeting (EGM) to seek approval from shareholders to restructure the company’s capital in a move to eliminate accumulated losses. The plan is to reduce the paid-up capital of the company to OMR10 million from OMR20 million to write off...
Allianz has reached a legally binding agreement with Banque Saudi Fransi (BSF) to purchase an 18.5 percent shareholding in Allianz Saudi Fransi (AzSF). The Saudi Arabian Monetary Authority (SAMA) has issued a letter of no-objection to the transaction, which will be completed by Allianz Europe BV, a 100 percent subsidiary...
Saudi Arabia Monetary Authority (SAMA) governor Ahmed Alkholifey has called for more consolidation in the insurance industry along with foreign investment in order to create competitive companies in the crowded market. “There are some small firms I don’t believe are capable of surviving in the market in their current condition,”...
The Association of Kenya Insurers (AKI) has said that the Integrated Motor Insurance Database System portal to curb rampant fraud, will be up and running by the end of January 2018. The system will provide members with a portal to verify validity of customer information, according to a report in...
