Middle East
South appointed CEO of Marsh Europe
Marsh has appointed Martin South to the newly-created position of chief executive officer of Marsh Europe.
Middle East Guest Blog: Firm Foundations
In earlier articles I have written that 2012 will be the year of reckoning following the 2008 financial crisis. Insurance is such that it takes time to unfold. Cyclicality is often blamed for the industry’s woes; and even more so in the Middle East…
Bin Shabib and Associates joins Insuralex
Law firm Bin Shabib and Associates LLP has been elected to membership of global insurance lawyers group, Insuralex.
Cyber threat poses huge global risks
Fiscal problems, global connectivity and demographic shifts pose the biggest risks in the next few years, according to the World Economic forum’s 2012 Global Risks report.
Rising medical costs behind potential 10% growth in Lebanese medical premiums
Medical insurance premiums in Lebanon will rise by 10% in 2012, according to projections by Lebanese insurance association, the ACAL.
Saudi insurers remain profitable despite low interest rates
Domestic insurers in the Kingdom of Saudi Arabia remain profitable despite increasing competition and the current low interest rate environment, according to a report by Standard and Poor’s.
Kane restructures as HSBC deal completes
Captive insurance manager Kane has completed a management restructure coinciding with the completion of the first phase of its integration of HSBC Insurance Management.
Kane reshuffles after HSBC buy
Independent captive insurer manager Kane has taken more cash from its private equity backer to open new offices and has promoted former Aon Global Insurance Management head Clive James to chief operating officer.
Eurozone financial services companies face challenging 2012
Solvency will remain a key challenge for Eurozone financial services companies throughout 2012, despite the positive action taken by the European central bank.
Oman Insurance Company appoints new senior management team
Oman Insurance Company has appointed a new senior management team.
Axa raises €2.5bn to invest in the European property market
French insurer Axa will invest up to €2.5bn in the development of green and brownfield sites and existing properties which require extensive redevelopment across the continent, to exploit the gap left by banks in the property lending market.
85% of Omani consumers want Islamic finance products
There is strong appetite among Omani consumers for Islamic finance with many keen to take it up as soon as it becomes available on the market, according to a study published by the Islamic Finance Advisory & Assurance Services.
Buckley Scott teams up with Middle East loss adjuster
Loss adjuster Buckley Scott has agreed a joint venture with Bahrain-based business Alan Henry.
MENA Insurance think tank welcomes three CEOs
MENA Insurance CEO Club has welcomed three industry veterans to its exclusive club, taking the total to 17.
AM Best warns of a reduction in ARIG's capital, but affirms rating
AM Best Europe has today affirmed the financial strength rating of B++ (Good) and issuer credit rating of “bbb+” of Arab Insurance Group. The outlook of both ratings remains stable.
Bowring Marsh opens Middle East hub
Bowring Marsh, the specialist placement division of Marsh, has opened an office in Dubai to serve the growing demand for international insurance placement in the Middle East.
View from the top: Market volatility and risk – ‘Keep Calm and Carry On’
As 2011 draws to a turbulent end, minds are now focusing on how best to tackle the continued economic volatility that 2012 is sure to bring for risk managers across the world. Never has the old adage ‘Keep Calm and Carry on’ been more appropriate.
Guest blog: Market cycles, cost of reinsurance and the Middle East
In the course of the year, concerns over the rising cost of regulation with impending Solvency II have been heard, even by Ferma’s Peter Von Dekker, as a cost that is ultimately likely to be absorbed by consumers.
QBE appoints property underwriter for Dubai
QBE has appointed Vladan Radakovic as a property underwriter in QBE’s Dubai office.
QBE appoints Radakovic to Dubai office
Business insurer QBE has recruited Vladan Radakovic from Chartis to be property underwriter in QBE’s Dubai office.
Marsh launches EMEA renewable power practice
Broker Marsh has launched a Europe, Middle East and Africa renewable power & cleantech practice.
Aviva pairs up with UAE insurer for expat medical insurance
Aviva’s UK health business has set up a new arrangement with Abu Dhabi based Emirates Insurance Company to provide expatriates based in the United Arab Emirates with compliant international private medical insurance solutions.
Bahrain Kuwait Insurance assigned 'A-' ratings
Bahrain Kuwait Insurance Company has had a financial strength rating of A- (Excellent) and issuer credit rating of “A-” assigned by AM Best.
RFIB opens in Saudi Arabia
Lloyd’s broker RFIB has opened its office in Saudi Arabia, after being granted an intermediary license by the Saudi Arabian Monetary Agency to conduct insurance and reinsurance business earlier this year.