October 18, 2017

Middle East Views

Middle East Views

Cigna: UAE ranks 5th in overall wellness

Cigna recently conducted a well being survey targeting overall wellness among 14,219 people, of which 1000 respondents were surveyed in the UAE. According to the findings, the UAE ranked fifth when compared to 12 other companies and Turkey ranked ninth. The survey looked at five key components—physical health, financial health,...

Arcapita, Mumtalakat acquire NAS

NAS United Healthcare Services represents an important investment for Mumtalakat and Arcapita strategies. Alternative investment firm Arcapita and Bahrain Mumtalakat Holding Company (Mumtalakat), the sovereign wealth fund of the Kingdom of Bahrain, have partnered to acquire an approximately 90 percent stake in NAS United Healthcare Services (NAS), a leading GCC...

Region sees rise in heart disease

Aetna calls for greater public awareness of cardiovascular disease. Cardiovascular disease (CVD) is the world’s forgotten killer – it accounts for 31% of all deaths worldwide. The number of global CVD related deaths is on the rise, yet not enough emphasis is placed on prevention. Aetna International calls for greater...

‘IT security service to be fastest growing segment in region’

MENA spending on IT security technology to reach USD1.8 billion in 2017. Middle East and North Africa (MENA) spending on information security technology and services is on pace to reach USD1.8 billion in 2017, an increase of 11 percent over 2016, according to Gartner, Inc. Sam Olyaei, senior research analyst...

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Takaful Emarat allies with Bayzat

Takaful Emarat has announced a strategic long-term alliance with Bayzat, a UAE-based technology business that provides insurance. Bayzat helps both companies and individuals quickly compare and buy their health insurance online, saving them both time and money.  It also helps them identify specific policy requirements and provides a transparent comparison...

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KSA issues final VAT law

Following the issue of the final VAT law on July 28, 2017, Saudi Arabia has published its final VAT implementing regulations, said Al Tamimi & Company, a leading law firm in the Middle East. As Saudi Arabia has now issued the full VAT legislation, which comprises the law and the...

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Clyde & Co to advise insurers on smart contracts

Clyde & Co has launched a new consultancy to advise insurers and clients in other sectors on all aspects of smart contracts, blockchain and distributed ledger technologies. Clyde Code, as the consultancy will be called, provides clients with legal and technical advice and services to help them realise the growing...

Beazley closes DIFC office

Beazley has closed its Dubai office within the Lloyd’s platform in the DIFC, citing a focus on the Singapore market. The office was incorporated in the third quarter of 2014 within the DIFC to underwrite political risk, trade credit, terrorism and contingency risk. Beazley will continue to underwrite MENA business...

Bahrain medical insurance shows 19% growth

Bahrain’s medical insurance line has spearheaded growth within the sector by 19 percent in 2016, according to figures by the regulator Central Bank of Bahrain. For the year 2016, the general insurance business contributed 81 percent to the gross written premiums, stated a report by the CBB. The medical line...

Creating the largest takaful entity

Business operations of Solidarity General Takaful are set to be transferred to Al Ahlia Insurance Company, a company that is looking to convert its licence from conventional to takaful. Notices published by the Central Bank of Bahrain (CBB) in the local media yesterday said the regulator had received separate applications...

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