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February 18, 2025
Saudi Arabia: Insurance Authority launches digital services portal “Tameen”
The Insurance Authority announced the launch of the digital services portal “Tameen” with the aim of promoting digital transformation in the sector, developing an integrated digital insurance environment that contributes to raising the efficiency of control and compliance processes, and enabling companies to access services digitally. Source: Al Morakeb
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Bilal Jarjour
February 18, 2025
UAE: Insurance industry shows resilience in 2024 despite weather-related losses
2024 proved to be a pivotal year for the UAE insurance industry, showcasing its resilience in the face of unprecedented weather-related losses, according to international actuarial consulting firm. Source: Middle East Insurance Review
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Bilal Jarjour
February 15, 2025
UAE: Expected Boom in the Health Insurance Sector by 2030
A report by Mark Ntel Advisors indicates that the health insurance sector in the UAE is expected to reach AED 46.6 billion ($12.7 billion) by 2030, with a compound annual growth rate (CAGR) of 6.5% from 2025 to 2030. Source: الإتحاد
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Bilal Jarjour
February 15, 2025
Insurance market rates for P&C increased in 4Q2024 in UAE and Saudi Arabia
According to a digital report published by Marsh, (re)insurers, Insurance market rates for property decreased by about 10% in Saudi Arabia, on the other hand, rates increased in the UAE due to losses brought about by flooding. Source: Middle East Insurance Review
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Bilal Jarjour
February 15, 2025
MEA: How the Middle East is regulating AI in insurance
AI and AI regulation will continue play an important role in the Middle East’s insurance sector, according to Norton Rose Fulbright’s report, titled ‘Insurance Foresight 2025’. Source: Middle East Insurance Review
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Bilal Jarjour
February 15, 2025
Arab Insurance Federation: Egypt, Morocco, and Algeria have employed the insurance industry to support infrastructure
The General Arab Insurance Federation participated in the Sixth Arab Regional Forum for Disaster Risk Reduction, which concluded its work yesterday, Wednesday, in Kuwait City, with the participation of more than 600 experts and officials from governments, civil society organizations, the private sector, and international organizations. Source:جريدة المال
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Bilal Jarjour
February 12, 2025
Munich Re’s economic outlook for 2025:
Global growth in 2025 to match 2024 level; Outlook marred by political uncertainty. In 2025, the global economy is expected to grow at roughly the same pace as in 2024. Source: Munich Re
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Bilal Jarjour
February 12, 2025
Saudi Arabia: Approval on the addition of the Insurance Authority in the membership of the Permanent Committee for Combating Money Laundering
In the Kingdom of Saudi Arabia, the Council of Ministers approved the addition of the Insurance Authority to the membership of the Permanent Committee for Combating Money Laundering, and the transfer of the authority to issue licenses for several professions in accounting and auditing to the Board of Auditors. Source: الإخبارية
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Bilal Jarjour
February 12, 2025
UAE: Insurer uses AI to eliminate medical exams in life insurance underwriting
Many insurance companies operating in the country have started using artificial intelligence techniques to improve customer service, increase efficiency, raise productivity and combat fraud, as well as in risk assessments and underwriting, according to Mohammed Abanda, Chairman of the Financial Committee and Chairman of the Technical Committee on Combating Financial Crimes at the Emirates Insurance…
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Bilal Jarjour
February 12, 2025
MEA: Middle East insurance poised for phenomenal growth
In a recent report by Gulf Business, Zurich International Life Middle East CEO discussed the rapid evolution of the Middle East insurance sector and its promising future, highlighting on the crucial role of customer centricity, digital transformation and regulatory advancements in shaping the trajectory of the industry. Source: Middle East Insurance Review
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