March 26, 2024

2023 global insured losses exceed $100bn for fourth consecutive year: Swiss Re

The Swiss Re Institute has revealed that global insured losses from natural catastrophes exceeded $100 billion for the fourth consecutive year in 2023, with the earthquake in Turkey and Syria, severe convective storms (SCS) and large-scale urban floods acting as the main drivers. Source: Reinsurance News

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POSTED BY

Ahmad Zein

March 26, 2024

Egypt: Finance Minister: the state will not monopolize the delivery of “universal health insurance” services to citizens

The Minister, President of the Universal Health Insurance Authority, expressed his appreciation for the international support for the Egyptian efforts in reforming health insurance in Egypt by supporting the “global health insurance” system, in accordance with the latest international standards. Source: Al Morakeb

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POSTED BY

Ahmad Zein

March 26, 2024

Egypt: Insurance federation addresses Nat CAT and climate risks

The Insurance Federation of Egypt (IFE) has said that it is studying ways of managing natural disaster risks and climate change. Source: Middle East Insurance Review

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POSTED BY

Ahmad Zein

March 26, 2024

2024 FM Global Resilience Index introduces 6 new risk factors

FM Global, a commercial property insurer, has recently released its 2024 Resilience Index, highlighting the rapidly evolving nature of risks confronting global businesses with the addition of six new resilience factors. Source: Reinsurance news

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POSTED BY

Ahmad Zein

March 20, 2024

Egypt: Head of “Train Accidents Pool”: 100 M EGP as technical allocations for claims reported and under settlement

Dr Mohamed Abu Al-Yazid, President of Train Accidents Pool (Insurance for Trains, Metro and Highway Accidents) revealed that the pool has paid 11.6 million EGP as claims during the last fiscal year 2022/2023, compared to 12.8 million EGP as claims paid during 2021/2022. Source: أموال الغد

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POSTED BY

Ahmad Zein

March 20, 2024

Turkiye: Senior industry executive expects motor pricing to be liberalised

The problem of insufficient premiums in compulsory motor third-party liability insurance (known as traffic insurance) imposes a great burden on the sector, with many insurers suffering technical losses in the branch. Source: Middle East Insurance Review

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POSTED BY

Ahmad Zein

March 20, 2024

 Algeria: Draft insurance law focuses on product diversification, takaful and

The preliminary draft law on insurance, which is currently being finalized, will make it possible to further diversify insurance products and systems, with an emphasis on financial inclusion. Source: Middle East Insurance Review

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POSTED BY

Ahmad Zein

March 20, 2024

UAE: Analysis of claims data highlights road challenges during Ramadan

The Ramadan period presents specific challenges to road users for a number of reasons including increased traffic, according to an analysis of motor insurance claims data. Source: Middle East Insurance Review

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POSTED BY

Ahmad Zein

March 16, 2024

Reinsurance renewals 2024 – what happened at 1/1 and what to expect in April

Tony Gallagher CEO, Asia Pacific region for Guy Carpenter talks about the 1/1 renewals and what to expect at the April renewals, emerging risk in 2024 and which business lines have the most scope in the year ahead. Source: Asia Insurance Review

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POSTED BY

Ahmad Zein

March 16, 2024

Turkiye: All eyes on 1 May when traffic premium rates will change

The Insurance and Private Pension Regulation and Supervision Agency (SEDDK) will hike premiums for compulsory motor third-party liability insurance (also called traffic insurance) based on the damage cost index, starting in May 2024. Source: Middle East Insurance Review

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POSTED BY

Ahmad Zein