August 19, 2018

Middle East Views

Middle East Views

CMA on course to health insurance implementation

The Capital Market Authority is on course to implement the decision of the Council of Ministers in collaboration with the entities concerned with implementation of the compulsory health insurance scheme for the employees of the private sector, expatriates and visitors. The CMA has milestones set for implementation of the health...

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Compulsory insurance in 2019 in Bahrain

Bahrain has announced that the National Health Insurance programme will officially take effect in 2019. In a recent meeting held by the Supreme Council for Health and the National Health Regulatory Authority president Dr. Shaikh Mohammed bin Abdulla Al-Khalifa said that Bahrain is now drawing the national health insurance project,...

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Uber partners with AXA in KSA

AXA will offer insurance plans for drivers and delivery partners in Saudi Arabia in partnership with Uber. Drivers will be compensated for financial cost of injury, including medical expenses or lost earning opportunities due to accidents while driving or delivering using the Uber app, the company stated. “The introduction of...

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UAE insurance sector grows by 12% in 2017

The Insurance Authority, the regulator of the UAE insurance industry has launched the 2017 highlights of the sector. The gross written premium for 2017 equals AED44.8 billion, showing 12 percent growth compared to the gross written premiums of AED40 billion in 2016. The gross written premium in non-life insurance is...

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ADNIC reports AED 150.5 million net H1 profit

Abu Dhabi National Insurance Company (ADNIC) announced its financial results for the first half of 2018. ADNIC reported a net profit of AED 150.5 million for the period, up 17.1 percent year-on-year. Commenting on the strong results, Shaikh Mohamed Bin Saif Al-Nahyan, chairman of ADNIC, said: “On behalf of the Board...

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SAMA issues updates to unified motor policy

The Saudi Arabian Monetary Authority (SAMA) has announced the issuance of an update to the unified policy for compulsory vehicle insurance, which is due to commence on August 26, 2018. According to a statement issued by SAMA, one of the most prominent amendments to the document is that, in contrary...

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RERA, BIA to develop real estate insurance bonds

The Real Estate Regulatory Authority (Rera) has signed a partnership agreement with Bahrain Insurance Association (BIA) to develop real estate insurance bonds. Bahrain thus becomes the first GCC country to provide such bonds, which will ensure more protection to buyers of off-plan housing projects. BIA will issue the bonds under the...

Cabinet to cover cancer patients

The Cabinet, upon the recommendation of Health minister Mahmoud Sheyyab, decided recently to cover all patients diagnosed with cancer with free insurance. Each of these citizens will receive an insurance card to be renewed annually till the end of treatment, the Jordan News Agency has reported. The decision authorises heads...

Dhofar ties up with Beyontec

Insurance information and technology solutions provider Beyontec has said that it has been chosen by Oman-based Dhofar Insurance Company to implement the Beyontec Suite, its core solution, across all major lines of business. Beyontec’s proven delivery proposition and deep industry experience will provide Dhofar Insurance the agility to respond to...

Kuwait: Retirees’ insurance to cover new treatments

The health insurance program that the health ministry offers for retired citizens will cover new treatments when the new tender is awarded later this year. The ministry had started last year a program that covers medical expenses for retirees at private clinics. The program, dubbed ‘Afiya’, covers basic treatments, but...

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