October 24, 2024
Saudi Arabia: the insurance sector expected to grow by 224% by 2030
In Saudi Arabia, the insurance sector is expected to witness significant growth in the coming years, with an estimated annual growth rate of 18%. Source: صحيفة مال
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Bilal Jarjour
October 24, 2024
Report: Embezzlement insurance protects companies from fraud losses
Business owners bear a lot of hard work to develop a successful business, and although it is a rewarding experience, it also involves many risks, as any such business involves a certain degree of trust, personal relationships, and then risk. Source: المال
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Bilal Jarjour
October 23, 2024
Egypt: Cooperation in the fields of sustainable insurance and AI ensures a future in line with the culture of society
Alaa El Zohairy, President of the Egyptian Insurance Federation, explained that cooperation in the fields of sustainable insurance, insurance technology and artificial intelligence is critical to ensure building a future in line with the culture of society and its common needs. Source: Al Morakeb
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Bilal Jarjour
October 23, 2024
GCC: Gulf Insurance Forum resolutions focus on climate change and tech
Summations and recommendations made at the 19th Annual Gulf Insurance Forum (GIF) held in Dubai on 15-16 October 2024 focused on growing weather-related risks and the best means to confront them. The Forum also addressed the increasing importance of technology in the insurance market. Source: Middle East Insurance Review
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Bilal Jarjour
October 23, 2024
UAE: Brokers oppose commission caps, cite industry risks
The insurance broking community in the UAE has voiced serious concerns over the reported move by Emirates Insurance Federation’s (EIF) to cap motor insurance commissions. The brokers have said that such a move could destabilize the UAE insurance industry. Source: Middle East Insurance Review
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Bilal Jarjour
October 23, 2024
Fitch: Growth of insurance brokerages in the Middle East and Africa slowed in the second half
Insurance brokerages in North America, Europe, the Middle East and Africa have performed strongly so far, but growth slowed in the second half of the year, according to Fitch Ratings in its 2024 Relative Credit Analysis report on the sector. Source: المال
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Bilal Jarjour
October 22, 2024
Algeria: aims to raise the contribution of the insurance sector to the GDP by 50%
Algeria will aim to halve the insurance sector’s contribution to GDP to 1.5%, compared to just 1% at present, similar to its contribution to similar Arab economies. Source: Al Morakeb
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Bilal Jarjour
October 22, 2024
Jordan: Central bank announced draft rules for insurance broking business
The Central Bank of Jordan has issued draft regulations for the licensing, regulating and supervising of insurance brokers. Source: Middle East Insurance Review
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Bilal Jarjour
October 22, 2024
Egypt: Head of Financial Supervision Enhancing the capabilities of the insurance sector contributes to attracting more investments and will enhance the levels of insurance coverage
Dr. Mohamed Farid, Chairman of the Financial Supervisory Authority, said that enhancing the competitive capabilities of the Egyptian insurance sector will contribute to attracting more local and foreign investments, enhance the levels of insurance coverage and achieve greater rates of stability for entities working in the field of insurance, pointing out that digital transformation contributes…
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Bilal Jarjour
October 22, 2024
Natural disaster insurance is still less than 10% in developing countries and in many cases is zero
Every year, natural disasters around the world destroy hundreds of billions of dollars’ worth of assets, and in many cases, only a fraction of the loss is insured. Source: المال
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