Saudi Arabia
Charles Taylor acquires Saudi loss adjusting business
Charles Taylor has made a strategic move to grow its loss adjusting business across the Middle East by acquiring a majority stake in Noble Inspection and Loss Adjustment Company, a licensed loss adjuster based in Saudi Arabia.
Pakistan takaful industry opens to general insurers
The Securities and Exchange Commission of Pakistan has issued revised takaful rules for 2012 allowing conventional insurance companies to open takaful window operations.
Chartis to offer MENA clients $1.5bn per-risk capacity
Chartis, the property and casualty arm of American International Group, has increased its commercial property per-risk capacity to $1.5bn on a worldwide basis.
Q&A with Allianz Worldwide Care's Andrew Seale
As the expat market continues to thrive in the Middle East, Stephanie Denton spoke to Andrew Seale, regional manager for the UK, Middle East and Italy at Allianz Worldwide Care, about the challenges this transient population brings to the private medical…
MENA insurers show resilience
Insurers and reinsurers in the Middle East and North Africa region have shown resilience in the past year and continue to maintain secure ratings.
Vijay Raghaven promoted to CEO of Ace Arabia
Ace Group today made several appointments to its Middle East and North Africa team.
S&P puts five MENA countries on negative watch
Standard & Poor's has put Bahrain, Egypt, Jordan, Oman, and Tunisia on negative outlook, indicating a one-in-three chance it will lower their soverign ratings.
Fringe markets to drive takaful gross contributions to $12bn
Global takaful contributions grew by 19% to $8.3bn in 2010, according to Ernst & Young's World Takaful Report 2012.
S&P affirms Dhaman's 'AA' credit rating
Standard & Poor's has affirmed its 'AA' counterparty credit rating for the Kuwait-based Arab Investment and Export Credit Guarantee Corp.
Iran sanctions have unintended consequences
Economic sanctions against Iran are an important part of European Union and US attempts to force the country to curb its nuclear programme. But, as Francesca Nyman reports, increasing concern has been voiced in recent months that measures aimed at the…
Saudi Arabia poll result
Is Saudi Arabia the next growth market for insurance?
United Healthcare International in deal to offer service in Middle East
United Healthcare International is to offer international insurance coverage to employers with staff in the Middle East through an alliance with Dubai-based Al Sagr National Insurance Co.
Saudi Arabia ripe for growth as health insurance dominates market
Health represented 53% of gross written premiums in 2010 and regulation has changed the Saudi Arabia insurance market dramatically with further development anticipated, according to a report.
In Series Emerging Markets: The importance of being experts
Despite the political upheavals in the Middle East and North Africa, the thirst for self-development and raised standards has continued unabated.
In Series: Emerging Markets - MENA means business
Despite growing competition in the Middle East and North Africa from local providers, there are still opportunities for foreign insurers in the market
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.
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.
Lloyd's syndicate drops Saudi lawsuit
Lloyd’s syndicate Riverstone Managing Agency (3500) has dropped its $215m lawsuit against Saudi Arabia in which it planned to sue the kingdom for funding the 9/11 attacks.
Lloyd's syndicate sues Saudi for financing 9/11
Lloyd’s insurance syndicate 3500 Riverstone Managing Agency, has launched a landmark legal battle against Saudi Arabia, accusing it of indirectly finding al-Qaeda and demanding the repayment of £136m it paid out to victims of the 9/11 attacks.
Post history – 50 years ago: More floods prove need for cover
Looking through Post’s back catalogue paints a unique picture of more than 150 years of insurance news, as this highlight from 50 years ago reveals.
Doors open at first RFIB Saudi office after licence secured
RFIB plans to open branches in Jeddah and the Eastern Province of Saudi Arabia after being granted an intermediary licence to conduct insurance and reinsurance business in the Kingdom.
Overseas market - Saudi Arabia: full of Middle Eastern promise
With a fast-growing insurance sector, Saudi Arabia is a country on the move. Dexter Morse gives a detailed overview of market developments and potential.
Willis names new Middle East MD
Willis has appointed Paul Holmes to the role of managing director of Al Futtaim Willis Middle East.
Mercer launches Saudi operation
Mercer has established a new operation in Saudi Arabia.