December 14, 2018

Middle East Views

Middle East Views

FRA signs pact for first actuarial life table

Chairman of the Financial Regulatory Authority (FRA), Mohamed Omran, signed a cooperation protocol recently with the African Reinsurance Corporation, (Africa Re) to provide by financial support for establishing Egypt’s first actuarial life table. An actuarial life table is a table or spreadsheet that shows the probability of a person, at...

‘Industry net investments see growth of 43’

Minister of Public Enterprise Sector, Hesham Tawfik, announced that the total net investments portfolio of the insurance companies in Egypt reached EGP86 billion in 2017/18, up from EGP60 billion in 2016/17, a growth of 43 percent. Tawfik continued during his speech at the recently held Sharm El-Sheikh Insurance, Reinsurance Rendezvous...

ECI conducts workshop with Dubai Chamber

Etihad Credit Insurance (ECI), the UAE Federal export credit company, in collaboration with Dubai Chamber of Commerce and Industry, organised a focus group workshop for Dubai-based businesses, particularly in the emirate’s export community. The workshop allowed ECI to gain increased understanding of the challenges and issues that the exporters face...

Al Alamiya, Riyad bank renew insurance pact

Al Alamiya for Cooperative Insurance has renewed its insurance agreement with Riyad Bank to provide insurance coverage for the auto leasing programme of the bank for a period of one year starting from 1 November 2018 on market terms. In a bourse statement, Al Alamiya emphasised that this policy has been...

CMA attends Arab Forum of Insurance Supervisors

The Capital Market Authority participated in the Arab Forum of Insurance Supervisors held recently in Dubai with the participation of presidents and representatives of Arab Insurance Supervisory Authorities. CMA’s delegation was chaired by Abdullah Salim Al Salmi, executive president and Ahmed Ali Al Mamari, vice president, Insurance Sector as well as...

3 ECAs guarantee Duqm project

Three major Export Credit Agencies have provided guarantees and insurance for the project financing of the recently signed Duqm Refinery project. It comprises an international commercial facility, an onshore commercial and an Islamic facility besides a United Kingdom (UKEF)-covered, a Spanish (CESCE)-covered, a South Korean (K-EXIM) covered facilities along with...

Insured expats to get treated at special clinics in Kuwait

Expatriates will soon be able to receive medical treatment in clinics that are operating on basis of insurance, reports Al-Anba daily quoting the Minister of Health Dr. Bassel Al-Sabah. He indicated that there is a new addition to the health system in its preventive, treatment, rehabilitation and palliative dimensions and...

Solidarity holds ERM training

Solidarity Group Holding recently organised an internal training session which focused on aspects of corporate governance and risk management in the insurance sector highlighting the latest global developments affecting the industry. The session was delivered, in collaboration with The Bahrain Institute of Banking and Finance (BIBF), to Solidarity Group Holding,...

Nexus launches online life cover

Nexus has teamed up with Zurich International Life Ltd. (Zurich) to offer instant life insurance online with no medical check needed. Tarun Khanna, CEO of Nexus commented: “Customers’ protection needs come into sharp focus when major changes occur in life, for example getting married or starting a family, especially when...

SHA launches health insurance app

Sharjah Health Authority (SHA) recently unveiled its health insurance app to integrate all its departments with a robust technology framework in line with the country’s smart government strategy. This interface has several user friendly features that will enable users to easily locate the hospital, clinic, pharmacy or a diagnostic centre...

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