Middle East
Ace raids RBSI for travel boss
Ace European Group has appointed Chris Price to its newly created role of regional director of travel for Europe, Middle East and Africa from RBS Insurance.
Arig reports $21.9m profit
Profit in sharp comparison to loss of $28.6m in 2008, driven by the improvement in Arig’s reinsurance book and investment income.
Marsh sees trade credit rates increase up to 50% across Europe
Increases in financial institutions' insurance ranged from more than 40% to 50% in Turkey, to 10% in Switzerland and South Africa. In the UK and Ireland, increases ranged from 10% to 30%.
Allianz in board shake up
It follows the announcement Dr Gerhard Rupprecht is to retire at the end of the year.
RSA strikes deal for £40m GWP insurance group
RSA Insurance has acquired Al Ahlia Insurance Company SAOC for OMR19m1 (£31m) from ONIC.
US wants UN sanctions resolution on Iran within weeks, including reinsurance
The United States wants the UN Security Council to approve a resolution within weeks, laying the ground for new sanctions against Iran over its nuclear programme, including a ban on (re)insurance.
Qatar General Insurance and Reinsurance results slide
The Qatar (re)insurer has reported that net underderwriting revenue for 2009 declined by QAR8.59m
Russia may support new round of sanctions on Iran
UN sanctions, including insurance and reinsurance sanctions, have come one step closer to agreement following Iran’s latest rocket test.
Gulf Insurance Group restructures reinsurance
The Gulf Insurance Group has restructured its reinsurance programme, broked through Guy Carpenter.
Insurer to branch out
International medical insurer ALC Health has revealed plans to open additional offices in the Far East and Eastern Europe over the next 12 to 18 months, after appointing a new head for Europe.
Piracy and Iran sanctions among challenges for marine insurers in 2010
Increased ransoms demanded by pirates and UN/US sanctions imposed on Iran were two potential areas for concern highlighted at a meeting of the International Union of Marine Insurance (IUMI) body on Tuesday.
Awal collapse could cost (re)insurers millions of dollars
Last year's collapse of Awal bank in Bahrain could cost the insurance industry hundreds of millions of dollars, Reinsurance...
Aon lead broker for Ethiopian Airlines crash
Aon was the lead broker for the Ethiopian Airlines plane which crashed on January 25th, Reinsurance can reveal...
Ace granted Saudi license
Ace Arabia Cooperative Insurance has been granted a license by the Saudi Arabian Monetary Agency
THB grows international treaty team
THB hires three senior brokers from RFIB
Allianz global corporate & specialty targets Middle East business
New Dubai branch offers corporate and specialty insurance products.
Marsh: corporate governance undeveloped in UAE
Broker survey found only 8% of conference delegates thought it as 'developed'.
Crawford opens office in Abu Dhabi
Claims management company opens new office
Loss adjuster opens new UAE branch.
Crawford sets up in Abu Dhabi.
Saudi insurer Tawuniya reports $8m loss from Jeddah flood
Company for Cooperative Insurance said it had estimated losses of $8m from flooding in Jeddah in November.
US Congress passes (re)insurance sanctions on Iran
US Congress has backed plans to impose sanctions on Iran including an insurance and reinsurance ban for Iranian tankers as part of the Iran Refined Petroleum Sanctions Act
UN Security Council considers (re)insurance ban on Iran
The UN Security Council is considering imposing sanctions on Iran including a ban on (re)insurance for Iranian tankers – WSJ
Jordanian insurer given ratings by AM Best
Jordanian insurer Jordan Insurance Company has been assigned a financial strength rating (FSR) of B++ (Good) and an issuer credit rating (ICR) of “bbb” by AM Best.