October 19, 2024
Egypt: FRA allows 33 insurance companies to launch mobile applications
Dr. Islam Azzam, Vice Chairman of the Financial Regulatory Authority (FRA), said that the Authority is focusing on digital transformation to increase the growth of the Egyptian agricultural sector and support its sustainable growth, to enhance and facilitate the access of financial technology solutions and various insurance products to farmers through mobile applications and through…
Read morePOSTED BY
Bilal Jarjour
October 19, 2024
UAE: 4.9m vehicle insurance policies worth US$1.6bn issued in 2023
The total motor insurance premiums generated in 2023 amounted to about AED5.9bn ($1.6bn), of which AED4.3bn was accounted for by locally incorporated companies and AED1.6bn by foreign insurers, according to data released by the Central Bank of the UA. Source: Middle East Insurance Review
Read morePOSTED BY
Bilal Jarjour
October 19, 2024
Insurance sector technology development reduces customer fraud attempts
Experts said that the insurance sector has started issuing policies electronically remotely, while premiums are now paid through e-wallets, and inquiries can be made with a simple phone call, however, there are still more developments that the sector needs. Source: المال
Read morePOSTED BY
Bilal Jarjour
October 17, 2024
Fitch: The stability of the reinsurance market in Asia during the current year depends on its sufficient capacity
Fitch Agency revealed that the reinsurance market prices in the Asia-Pacific region in year 2024 are stable due to sufficient capacity and will remain if this continues. Source:المال
Read morePOSTED BY
Bilal Jarjour
October 17, 2024
Egypt: Digitization and supporting startups are top priorities for the Authority’s work to achieve financial inclusion based on innovation
Dr. Mohamed Farid, Chairman of the Financial Regulatory Authority (FRA), participated in the fourth edition of the Fintech Surge 2024 Conference. The conference focuses on trends affecting the future of various financial sectors, specifically digital services, investment in financial technology, and growing cooperation between financial institutions and financial technology companies, and investment in them. Source:اموال…
Read morePOSTED BY
Bilal Jarjour
October 17, 2024
Morocco: Takaful companies generate contributions of US$4.4m in 1H2024
Takaful generated contributions totaling MAD43.5m ($4.4m) in the first half of 2024, 50% higher than the MAD29m reported for the corresponding six months in 2023, according to data released by the Moroccan Insurance Federation. Source: Middle East Insurance Review
Read morePOSTED BY
Bilal Jarjour
October 17, 2024
Helene and Milton losses below $200m
Progressive, the property and auto-focused insurance group, has revealed that incurred property losses and allocated loss adjustment expenses (ALAE) related to hurricanes Helene and Milton did not exceed the $200 million retention. Source: Reinsurance News
Read morePOSTED BY
Bilal Jarjour
October 16, 2024
Egypt: Decisions to determine the capital of companies operating in the insurance sector will be issued soon
Dr. Mohamed Farid, Chairman of the Financial Regulatory Authority, stressed that we have a large insurance market with great capabilities and need more reforms. During his speech at the opening of the twenty-eighth African Reinsurance Forum, he explained that the Financial Supervisory Authority is implementing a comprehensive plan to reform the Egyptian insurance sector. Source:…
Read morePOSTED BY
Bilal Jarjour
October 16, 2024
Jordan: Proposals and recommendations of the Car Insurance Committee in the Jordanian Federation of Insurance Companies to deliver rights to their owners within the controls
The Executive Committee of the Motor Insurance Committee operating under the framework of the Jordanian Federation of Insurance Companies discussed, in a meeting at the General Administration of the Federation, the draft instructions for the principles and procedures for settling and paying claims resulting from vehicle accidents for the year 2024. Source: تأمين ومصارف
Read morePOSTED BY
Bilal Jarjour
October 16, 2024
Turkiye: Insurance professionals need more training in risk management
Professionals in the insurance sector do not receive sufficient training in risk management, in the view of Mr. Ceyhan Hancioglu, general manager of Magdeburger Insurance. Source: Middle East Insurance Review
Read morePOSTED BY