July 31, 2024
Saudi Arabia: A booming ins sector with investment opportunities within Vision 2030
The insurance sector in Saudi Arabia has witnessed rapid growth in recent years, driven by the ambitious Vision 2030 aiming to diversify the economy and develop non-oil sectors. Source: موجز الأنباء
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Bilal Jarjour
July 31, 2024
Globally, insurance companies’ losses from the worldwide technical failure may reach billions of dollars
Analysts said that insurance companies’ claims after the sudden technical failure that struck companies around the world last week were expected to reach billions of dollars, indicating that economic losses may be higher. Source: العربي الجديد
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Bilal Jarjour
July 31, 2024
Egypt: Attaba fire incident… experts review the ins cover
In Egypt, fire incidents in commercial stores have increased recently, causing owners to suffer huge financial losses. The latest of these fires was witnessed in Attaba, Mosky and Haret el-Yahood areas during the past few days. Source: أموال الغد
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Bilal Jarjour
July 29, 2024
Egypt: the Insurance Federation of Egypt reviews corporate strategy
In Egypt, the Insurance Federation has revealed that insurers have several strategies they can use to address aviation emissions, including risk assessment and pricing, as well as adherence to emissions reduction targets. Source: Al Morakeb Group
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Bilal Jarjour
July 29, 2024
Kuwait: CMA exempts insurance companies from governance
In Kuwait, the Capital Markets Authority (CMA) issued a decision no 90 of year 2024 regarding the exemption of listed companies regulated by the Insurance Regulatory Unit from the provisions of article 15 (Corporate Governance) of law no 7 year 2010. Source: الجريدة
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Bilal Jarjour
July 29, 2024
Algeria: Insurance market grows by 4% to 48.4 billion dinars in the first quarter of 2024
Algeria’s national insurance market achieved a turnover of 48.4 billion Algerian Dinars in various branches during the first quarter of the year, being a growth of 4% compared to the same period of last year, according to the National Insurance Council. Source: العربية
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Bilal Jarjour
July 29, 2024
Jordan: Council of Ministers issues three regulations related to the insurance sector
In Jordan, the 2024 Compulsory Insurance Law was issued, as well as the Unified Insurance Bureau Law and the Guarantee Fund for Insureds. Source: أخبار البلد
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Bilal Jarjour
July 27, 2024
America: CrowdStrike Event Cost According to Cyber Cube
Initial insurance losses from the outage of CrowdStrike IT’s service to the standalone cyber insurance market are expected to range from $400 million to $1.5 billion, according to Cyber Cube, a firm that specializes in designing cyber risks and exposures. Source Al Morakeb Group
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Bilal Jarjour
July 27, 2024
Aviation: Loss adjusting must evolve alongside risk
According to Charles Taylor managing director, Asia Pacific – aviation Bob Battoo, loss adjusters in Asia will need to “closely monitor” a number of factors in the aviation industry, as well as the interplay between them, in order to identify emerging risks and assess potential impacts. Source Asia Insurance Review
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Bilal Jarjour
July 27, 2024
Comprehensive auto insurance policies hiked by 20-25%
Insurance companies in the UAE have raised the prices of comprehensive motor insurance policies during the first half of the year by a percentage ranging between 20% and 25% compared to the corresponding period in 202, according to Mr Saeed Abdullah Al Muhairi, CEO of United Gulf Insurance Brokers. Source Middle East Insurance Review
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