March 23, 2024
Egypt: insurance brokers get a ruling to cancel the disclosure of commissions in payment receipts
Insurance brokers have obtained a new ruling from the Administrative Court of the State Council, accepting their suit in form, to cancel the disclosure of their commissions in receipts and notifications of payment of insurance policies in accordance with the decision issued by the Board of Directors of the Financial Regulatory Authority no 181 of…
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Bilal Jarjour
March 23, 2024
Egypt: FRA discusses with its Omani counterpart enhancing areas of cooperation in capital market and insurance
Dr Mohamed Farid, Chairman of the Financial Regulatory Authority (FRA), held a meeting with officials of the Capital Market Authority (CMA) in the Sultanate of Oman to discuss ways to enhance existing and potential areas of cooperation between the Capital Market Authority of the Sultanate of Oman and the Financial Regulatory Authority in Egypt. Source:…
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Bilal Jarjour
March 23, 2024
Lebanon: Mr. Nadim Haddad as Head of the Insurance Control Commission
In a follow-up to the file of the insurance sector, which has recently witnessed dark moments, some of which were with the judiciary, the Economy and Trade Committee, headed by MP Farid Al-Bustani, put the finger on the wound, turning its meeting into a revealing session, which ended with the commitment of Minister of Economy,…
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Bilal Jarjour
March 21, 2024
Egypt : Property insurance branch drives industry growth in 2023
Insurance premiums in the Egyptian market increased in nominal terms by 30.4% in 2023 to reach EGP74.1bn ($1.55bn), compared to EGP56.8bn in 2022. Source Middle East Insurance Review
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Bilal Jarjour
March 21, 2024
UAE Cabinet approves the introduction of a health insurance system for workers
During its meeting, the UAE Cabinet, chaired by Sheikh Mohammed bin Rashid Al Maktoum, adopted a decision to introduce a health insurance system for workers registered with private sector institutions and domestic service workers in the UAE that do not have health insurance systems for such workers. Source: El Morakeb Group
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Bilal Jarjour
March 21, 2024
Egypt: IFE: AI changes the shape of the sector and plays a role in risk mitigation and management
The Insurance Federation of Egypt confirmed that artificial intelligence (AI) technologies are changing the traditional insurance model, as they can automate different aspects of the insurance process, from risk assessment to claims processing. Source El MorakebGroup
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Bilal Jarjour
March 21, 2024
Standard &Poor’s raises Egypt’s outlook from “stable” to “positive”
Standard & Poor’s revised its outlook for Egypt to positive from a stable one, while maintaining its long-term foreign and domestic short-term sovereign credit ratings at ‘B-/B’. Source: اموال
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Bilal Jarjour
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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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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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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