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December 7, 2024
Egypt: Insurance industry bets on new law to attract new investment in activity
The insurance industry in Egypt has witnessed a major qualitative leap this year through the issuance of the Unified Insurance Law No. 155 of 2024, after 43 years of the entry into force of its previous legislation, Law No. 10 of 1981. Source: المال
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Bilal Jarjour
December 6, 2024
Bahrain: Law to be amended for medical liability insurance
Doctors in Bahrain will likely be required to acquire medical liability insurance to protect against claims of medical errors, under a proposed law that seeks to consolidate scattered and outdated liability regulations into a single framework. Source: Middle East Insurance Review
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Bilal Jarjour
December 6, 2024
UAE: Insurance sector consolidated profit rises to AED 927.1 million (+2%)
A study of insurance companies listed on the Dubai Financial Market (DFM) showed that the combined profits of 11 insurance companies listed on the Dubai Financial Market increased by 2% to reach AED 927.1 million by the end of the first nine months of 2024, compared to profits of AED 912.3 million achieved during the…
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Bilal Jarjour
December 6, 2024
Turkey: Reinsurance market seen as more favorable for 2025 renewals
The Turkish reinsurance market is in a more positive situation this year compared to last year, according to senior industry executives. Source: Middle East Insurance Review
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Bilal Jarjour
December 6, 2024
Egypt: Egyptian Insurance: The use of big data revolutionizes the design of insurance products
In the modern insurance world, the term “big data” has become one of the main pillars that are indispensable in the development and improvement of insurance services, and in light of the rapid technological progress witnessed by the current era, insurance companies are able to collect and analyze huge amounts of data from multiple sources…
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Bilal Jarjour
December 4, 2024
UAE: Cyber threats rise sharply in 2024, expected to worsen with new technologies
UAE: Has seen a sharp rise in cyber threats in 2024, particularly ransomware attacks, with 34 reported incidents between January and November, up from 27 in all of 2023, according to Acronis Threat Research Unit data Source: Middle East Insurance Review
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Ahmad Zein
December 4, 2024
Egypt: Extending the deadline for regulating the status of insurance sector companies in accordance with the unified law for one month
The Financial Regulatory Authority (FRA) has decided to extend the deadline for the regularization of the status of companies operating in the insurance sector in accordance with the unified law for one month. Dr. Mohamed Farid, Chairman of the Authority’s Board of Directors, issued Resolution No. 2908 of 2024, which included extending the deadline for…
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Ahmad Zein
December 4, 2024
Oman: Insurance companies’ revenues reach OMR 197.8 million during the first half of year 2024
In Oman, net insurance services results reached OMR 5.6 million, up by 200.9%. Source: عُمان
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Ahmad Zein
December 4, 2024
Saudi Arabia: Insurance Authority launches new digital solutions for motor insurance
The Insurance Authority announced the launch of a number of services related to vehicle insurance and traffic accident follow-up to keep pace with technological progress and facilitate beneficiaries, in order to achieve the objectives of the Kingdom’s Vision 2030 in digital transformation, as part of its continuous efforts to develop the insurance sector and enhance…
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Ahmad Zein
December 3, 2024
Tunisia: Insurance industry’s anti-fraud agency scheduled to start operations in 2025.
Finance Minister Ms Sihem Boughdiri Nemsia last week announced the establishment of the Tunisian Agency for the Fight against Fraud in the Insurance Sector. Source: Middle East Insurance Review
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