Middle East
RSA makes senior appointments in Middle East
General insurer RSA has made a number of senior appointments to its team in the United Arab Emirates.
Japan and South Korea petition EU for Iran sanctions exemption
South Korea and Japan are asking the European Union to allow access to European insurance for Iranian oil shipments even after a 1 July embargo comes into effect, according to Al Arabiya news.
Cloud adoption may be hampered by poor risk assessment
Organisations' decisions about adopting cloud computing must be made with a full view of the risks involved, according to Marsh.
Downward pressure poll
Is the market already seeing demand affected by downward pressure on disposable incomes?
Countdown to ISA: Q&A with RSA's Chris Colahan
As part of a series counting down to Insurance Strategy Asia, Insurance Insight spoke to Chris Colahan about his views on the Asian insurance market.
The GCC insurance market: Crème brûlée or Heath Bar?
The term crème brûlée was first used to refer to insurance in perhaps 2002 in an Insurance and Reinsurance Conference in Bermuda, and then used again during the following Monte Carlo Rendezvous and Baden Baden meetings of the same year.
Japan's government considers insurance for Iran crude tankers
Japan's government may insure tankers unable to get cover for shipments of Iranian oil due to European Union sanctions, according to the International Oil Daily.
Anglo-Arab launches war and terrorism travel cover
Anglo-Arab Insurance Brokers launched the first online global travel plan to include war and terrorism cover as standard at the Arab Travel Markets Conference in Dubai on 30 April.
Iran sanctions may force India and Greece to find alternative oil suppliers
The repercussions from US and EU sanctions on Iranian crude oil are being felt far beyond the Islamic Republic, according to a report by Exclusive Analysis.
Insurance the micro way
Much of the world's population has now moved out of extreme poverty and into the lower middle class. Francesca Nyman examines whether there is a market for micro-insurance in this demographic.
Clyde & Co promotes nine to partnership in Middle East and Asia
Insurance specialist Clyde & Co has promoted nine lawyers to partnership in the Middle East & Asia.
Marsh & McLennan revenue grows 6% in Q1
Marsh & McLennan Group outstripped analyst estimates to make consolidated revenue of $3.1 bn in the first quarter, a 6% increase on the first quarter of 2011.
AAOIFI plans reform of takaful standards
Khaled Al Fakih, the new secretary-general of the Bahrain-based Accounting and Auditing Organisation for Islamic Financial Institutions, outlined plans for a sweeping review of its guidelines in an interview with Reuters.
Clyde & Co promotes six to partnership in the Middle East
Clyde & Co has announced the internal promotions of six Middle East-based senior associates and legal directors to the partnership, with effect from 1 May 2012, bringing the firm's regional partner count to 30.
Sri Lanka's EAP enters insurance broking with Omani firm
EAP Group will form a joint venture with Oman-based broker Risk Management Services LLC to capitalise on the growing insurance market in post-war Sri Lanka.
Lloyd's Register exits Iran amid sanctions furore
Lloyd's Register has closed its operations in Iran, fearing a blacklisting in the US if it failed to terminate the business.
Indian insurer will provide liability cover for tankers carrying Iranian crude
State-owned Indian insurer General Insurance Corp of India will step forward to provide third-party liability cover of up to $50m for ships bringing Iranian crude oil from Iran, according to reports.
China considering sovereign guarantees to keep oil flowing
China will review the possibility of sovereign guarantees to enable the nation's ships to import Iranian crude oil after EU sanctions come into effect in July, the head of the China Shipowners' Association has said.
Nearly 80% of Islamic firms created a risk department in the past five years
The number of Islamic financial institutions employing dedicated risk managers has increased greatly since 2007, according to Deloitte Middle East's first Islamic Finance Risk Intelligence report.
Atradius appoints D'Souza as Dubai country manager
Credit insurer Atradius has appointed Schuyler D'Souza as country manager for Dubai to support the company's growing business in the Middle East through regional partner Arab Orient.
Crisis pushes EMEA risk managers to demonstrate value
Risk managers across EMEA are using the financial crisis to demonstrate how they add value, and are gaining kudos in the boardroom as a result, according to Marsh's latest report.
Aon's political risk and terrorism map warns 37 countries are more dangerous
Aon Risk Solutions has downgraded 37 countries including the UK in its 2012 Terrorism & Political Violence Map, largely due to civil unrest.
Aon downgrades 37 countries for terrorism and political violence
Companies must consider threats to business continuity due to civil unrest, said Aon Risk Solutions, as it downgraded 37 countries in its annual Terrorism & Political Violence map.
Indian ship owners vow to carry Iranian oil despite reduced cover
Sanctions-hit Indian shipping firms will continue transporting Iranian crude oil, even if restricted insurance coverage leaves them financially exposed in the case of a spill or accident, industry sources have said.