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December 21, 2024
Kuwait: Suspension of “Insurance repositories”
The Chairman of the Supreme Committee of the Insurance Regulatory Unit, Mohammed Al-Otaibi, approved the temporary suspension of Resolution No. 38 of 2023 regarding the issuance of rules regulating the activity of central insurance repositories and its amendments, in order to achieve the public interest. Source: Al Morakeb
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Bilal Jarjour
December 21, 2024
Egypt: Insurance companies adopt digital transformation plans to prepare for future challenges and seize growth opportunities
The insurance sector in Egypt is accelerating to keep pace with the global development in activity, especially in the field of digital transformation, and to benefit from modern technology applications in developing the internal work of companies and improving the environment for dealing with customers. Source: المال
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Bilal Jarjour
December 21, 2024
Majority of US insurers expect to exceed a growth rate of 5% in 2025
Global insurance and reinsurance broking group Aon has released its latest capital poll, which showcases that most US insurers expect to exceed a growth rate of 5% in 2025. Source: Reinsurance News
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Bilal Jarjour
December 20, 2024
Arab Re BOD meeting in Turkey
The Board of Directors of Arab Reinsurance Company held a meeting in Istanbul, Turkey on 12-12-2024, chaired by Sheikh Khaldoun Barakat to discuss its agenda. Source: Arab Re
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Bilal Jarjour
December 20, 2024
Egypt spends 240 billion pounds on health insurance in 10 years
In Egypt, the Minister of Health explained, during a press conference following the weekly government meeting, that the comprehensive insurance system has expanded significantly over the past years. Source: خاص عن مصر
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Bilal Jarjour
December 20, 2024
Morocco: ACAPS imposes severe penalties on insurance brokers
The Insurance and Social Welfare Supervisory Authority (ACAPS) has implemented a set of disciplinary measures against insurance brokers, with penalties ranging from withdrawal and cancellation of credits, in addition to warnings and reprimands, following the implementation of field inspections and monitoring. The accreditations of 82 brokers were withdrawn and the licenses of 9 direct show…
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Bilal Jarjour
December 20, 2024
Arab Insurance Union Inflation affects the prices of “medical” policies by about 15%
The Secretary-General of the General Arab Insurance Union said that medical insurance is one of the pillars of financial inclusion because of the material and social stability it achieves for individuals. Abu Zeid stressed that the regulatory authorities must work to monitor the pricing of medical insurance to reduce abuses and unhealthy competition between companies…
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Bilal Jarjour
December 19, 2024
Arab Re BOD meeting in Turkey
The Board of Directors of Arab Reinsurance Company held a meeting in Istanbul, Turkey on 12-12-2024, chaired by Sheikh Khaldoun Barakat to discuss its agenda. Source: Arab Re
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Bilal Jarjour
December 19, 2024
Morocco: Dedicated legal framework to be released soon for microinsurance sector
A dedicated legal framework will soon be introduced in Morocco, according to the Insurance and Social Security Supervisory Authority (ACAPS). Source: Middle East Insurance review
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Bilal Jarjour
December 19, 2024
Egypt: The Financial Supervisory Authority addresses the companies under its supervision to submit the report on combating money laundering and terrorist financing
The Financial Regulatory Authority (FRA), represented by the Central Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) Department, has addressed the entities subject to the Authority’s supervision and control to send the 2024 annual report on combating money laundering and terrorist financing no later than January 31, 2025. Source: اموال الغد
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