December 2, 2024
Lebanon: Have the prices of war coverage policies decreased as it ends?
During the war, insurance companies in Lebanon resorted to raising the value of war risk insurance policies at the request of international reinsurers, who considered that the risks of war necessitated this step. What is the state of these policies today and did they return and decline with the end of the war? Source: LebanonEconomy…
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Ahmad Zein
December 2, 2024
Kuwait: Kuwait Insurance Regulatory Unit issues two decisions
The Kuwait Insurance Regulatory Unit issued Resolutions No. 22 and 23 regarding granting a license to two companies that have reconciled their status, and amending the provisions of the executive regulations of the Insurance Regulation Law. Source: جريدة النهار الكويتية
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Ahmad Zein
December 2, 2024
Jordan: Federation of Insurance Companies and UNDP sign a memorandum of understanding
The Jordan Federation of Insurance Companies and the United Nations Development Program (UNDP) signed a Memorandum of Understanding (MoU) to enhance insurance inclusion and risk financing This partnership provides the opportunity to enhance technical and applied knowledge through customized training programs that meet the needs of the local market. Source: Al Morakeb group
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Ahmad Zein
December 2, 2024
Cyber threats and climate change highlight risk concerns in the insurance industry
A recent survey conducted by Munich Re America and Triple Eye revealed that cyber threats, climate change and business disruptions are the top risk concerns among key market segments of the insurance industry. Source: بوابة التامين الإقتصادية
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Ahmad Zein
November 29, 2024
Despite the growth in revenues, why are the profits of the insurance sector in the GCC market declining?
Despite the positive growth in the revenues of the insurance sector in the GCC during the first nine months of 2024, where they increased by 13.9%, profits witnessed a remarkable decline. This growth is driven by higher prices, increased mandatory coverage and continued market integrations. Source: بوابة التامين الإقتصادية
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Ahmad Zein
November 29, 2024
Turkey: Insurance association spells out 2025 expectations
The Insurance Association of Turkey (TSB) has outlined its expectations for 2025 for the industry. The highlights are: More CAT (natural disaster) protection will be needed in 2025. An additional $2-3bn of reinsurance protection will be needed in 2025. Source: Middle East Insurance Review
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Ahmad Zein
November 29, 2024
Egypt: FRA gives private insurance funds one year to comply with new model of statute
The Financial Regulatory Authority (FRA) has granted private insurance funds based on the Egyptian market a one-year grace period to amend their articles of association in accordance with the model articles of association recently issued by the authority. The Board of Directors of the Authority, headed by Dr. Mohamed Farid, issued Resolution 236 of 2024…
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Ahmad Zein
November 29, 2024
Egypt: The Financial Supervisory Authority approves granting Standard Chartered Bank a license to work as a custodian
The Financial Regulatory Authority (FRA), headed by Dr. Mohamed Farid, has approved the granting of a license to Standard Chartered Bank to practice the activity of custodians. Source: رجال الاعمال
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Ahmad Zein
November 28, 2024
Lebanon: are reinsurance companies stopping business in Lebanon?
In light of the Israeli aggression on Lebanon and the security situation, Lebanese insurance companies are experiencing difficulties, with the possibility that reinsurance companies could stop working with them. Source: Lebanon Economy
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Ahmad Zein
November 28, 2024
Morocco: Insurance industry embraces digitalization
The Moroccan insurance sector is reinventing itself by accelerating digital transformation and increasing use of artificial intelligence. Source: Middle East Insurance Review
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