Arab Reinsurance Company: a new dimension
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Saudi Arabia - Shura to prevent monopolies in insurance - Tunisia – Ins. premiums up by 7.4% in H1 2018 - Global Regulators rethink ‘Too-Big-to-Fail’ Designation - Retro losses could drive price increases in 2019 - IFRS17 delayed by one year amid industry criticisms - Jordan – Workshop on war and terrorism insurance - Egypt – Finalizing ins. and consumer finance laws in 2019 - UAE – 1st digital platform to include insurers & policyholders - UAE - AED 1.1 billion profits of 20 insurers - Oman – Agreement between Capital Market Authority and IAIS - Saudi Arabia - SMS notifications update health ins. Status - Jordan – Health premiums reached JOD 168.9m in 207 - Saudi Arabia - Health ins. to all citizens in 5 years - Saudi Arabia - Civil Defense and "Najm" cooperate on Nat Cat damage - The Egyptian Health Care Company started its activities - Mr. Bachir Baddou in the executive committee of GFIA - Saudi Arabia – Najm wins digital transformation award - Dubai Health prevents duplication of government ins. Cards - Dubai - Insurance most active sector in the market - 2018 could yet be worst year in a decade - Reinsurance CFOs confident about growth - Regulatory regimes to boost reinsurers’ shares in Asia - Insurtech patents jumped 40% in 2017 - Wildfire engulfs thousands of California homes - UAE – Profits of 11 insurers at AED 805m - Hurricane Michael insured loss above $8bn - Asian markets to drive insurance growth - Alternative capital keeps property rates stable - UAE - Health insurance 'misuse' rates drop - UAE - 62% of insured population is overweight - UAE - Markel forms strategic alliance with Etihad Credit - Jordan – Profits of 22 insurers increase sixfold - Kuwait - Health ins. hospitals to serve 2m expatriates - UAE – Workshop on anti-money laundering - 5 reinsurers will dominate the global market - Q3 cat bond issuance highest ever at $1.6bn - Insurtech-related patents soar globally - KSA – Rejected ins. health claims at SAR 2.25 B annually - Kuwait – 3 insurers control 44% of motor TPL - UAE – Generating 660 employments in retail sector - UAE – Ins. distributors cannot issue contracts - UAE – Hosting the Union of Arab Ins. Regulators - Egypt – Government tackles agricultural insurance - Algeria – Ins. customers entered digital age - Egypt – Comprehensive motor ins. should be compulsory - New high for global ins. M&A - China – Premiums rise despite economic slowdown - Rising P&C rates put pressure on Caribbean cedents - Marsh: ‘We’re in a massive blockchain revolution’ - Ping An plans $2B IPO of Health Tech Unit - ‘New realities’ tech presents ins. Opportunities - Rates must improve to meet cost of capital - Reinsurers to benefit from digital transformation - Life reinsurers must adapt to cedents’ needs - Lloyd’s Asia seeks innovation - African Development Bank launches disaster risk facility - UAE - Oman Ins. Company signs up with Al Etihad Credit Bureau - Egypt – Protocol to establish the first actuarial life table - Governmental support for Asian reinsurers varies - Pakistan - New insurtech-based life insurance product - Egypt - EGP 86bn investments of insurers in 2017 - UAE 4th global Islamic fintech hub - Saudi Arabia - MetLife opens account in mutual funds - Singapore launches cyber risk pool - Oman – Meeting on health insurance implementation - Bahrain – Automated “self-service” motor ins. Renewals - Lebanon – Storm damage not covered - Jordan – Publication of private health ins. Guide - Silent cyber to cause ILS fund losses - Reinsurers of the future will embrace ILS - Mauritania – Insurance Association announced - Egypt – Insurers should spread Nat Cat awareness - Saudi Arabia – Unified compulsory motor ins. Contract - Abu Dhabi – Seminar on cyber security - Hurricane Michael to keep a floor under pricing - Marsh launches social unrest insurance solution - Arab ins. market less than 1% of world premiums - Kuwait – Call for a draft insurance code of ethics - Jordan – Motor insurance training completed - Marsh confirms partnership with insurtech - Asian insurance gap reaches US$134 billion - 2018 cost of global cyber-crime $600 billion - Calls for better safety of autonomous cars - Egypt – Ins. Federation seeks to increase GWP retention - Jordan – Ins. Federation issues “motor ins. guide” - Takaful Oman launches innovative App for safer roads - Oman - Workshop on health insurance - Egypt – Loss ratio reaches 40% in August 2018 - UAE - 4% contribution of ins. to GDP in 2022 - UAE – Banks represent 70% of life ins. Brokerage - Jordan – 13.1% life ins. premiums increase in 2017 - Egypt – Capital of ins. companies to be related to risk - Sh. Khaldoun Barakat - Chairman - We maintained a B+ rating and our market position - Arab Re supports the FAIR Reinsurance Forum - 20% of old-aged Saudis self-finance treatment - Malaysia to ease insurance foreign investment - Google ‘Definitely’ interested in Insurtech investments - UAE – Smart insurance uncovers fraud - Insurer stores damaged art for restoration - Jordan – Pharmacists to take action against some insurers - Egypt – Regulations on the electronic issuance of insurance - Satellites hastening Florence and Michael claims payments - ILS market to near $100 billion in 2018 - Lebanon – USD 4 billion insurance investments - Respiratory system diseases costliest in Dubai - Kuwait – 65 actions to combat money laundering in Sept - Insurers call for delay in adopting IFRS 17 - Michael will not impact reinsurance pricing - U.S - Underwriting losses for Medical liability - Autonomous cars will shake insurance market - Competition from insurtech to increase - Sharjah Health Authority goes digital - UAE – Insurers pay auto repair garages in installments - Insured Hurricane Michael losses at $10bn - Low-cost ins. for UAE workers starts today - UAE – Decreasing prices to boost GWP before year-end - Jordan – Draft insurance law published - Egypt – Code of insurance ethics - Top UK, US insurtech firms revealed - Cryptocurrency theft reaches $927 Million in 9m - Michael insured losses estimated at $8bn - Dubai to transform healthcare billing - Natural disaster losses leap 251% in past 20 years - Michael will not be a capital event for reinsurers - New vehicle technologies to disrupt ins. Sector - London insurers’ profits under pressure - Saudi Arabia to offer national health ins. Soon - UAE - employee ins. system to start on October 15 - UAE – 3% contribution of ins. to GDP in 2018 - Travelers announces major Amazon partnership - Insurance M&A deals to double in 2018 - Egypt - Insurance for the repatriation of remains - UAE – 69% don’t renew car licenses due to high ins. Prices - Saudi Arabia – Health insurers raise their prices - KSA – Premiums reach SAR 7.5 B in Q2 - Modest cat losses to pressure rates at 1/1 renewals - Driverless ships could offer growth - Brexit uncertainty to hit businesses - Jordan – Claims reached JOD 234.5 million in 6m - Egypt – Premiums reach EGP 9.5 B in 3m - Driving pattern determines premium - Egypt - Feedback on Takaful regulations expected - Storm Xavier to cost insurers €324m - Abundant capital driving nat cat resilience - Maritime industry unprepared to deal with global issues - Silent cyber perceived as a greater risk - Reinsurance M&A to continue - Reinsurers able to absorb H2 2018 losses - IFRS 17 to have mixed results for reinsurers - Indonesia looks to cat bonds after string of catastrophes - UAE – Housemaid ins. will replace bank guarantee - Husband helped wife’s suicide to benefit from ins. - Insurance Europe calls for IFRS 17 to be reopened and delayed - Reinsurance pricing to decline at 1/1 renewals - USD 248 Billion global reinsurance premiums - Egypt – Creation of reinsurer with a capital EGP 10 m considered - Saudi Arabia – Saudization of ins. sector jobs ongoing - Kuwait – 15 employees of ins. dept. empowered legally - Dubai to host GCC Insurance Forum - UAE – 20% decrease in motor ins. Prices - Oman – Insurers to get ready for IFRS17 - Egypt - Regulator deliberates the incorporation of microinsurers - UAE – Acceleration of Emiratization in retail sector - Oman – Ins. and health sectors contribute to GDP - Ins. Federation of Egypt studies market regularly - Egypt – New motor compulsory ins. System - Marsh expands blockchain partnership with IBM - Saudi Arabia – 150 firms suspended for not insuring employees - Jordan – Training on business continuity completed - UAE – Fund for victims of uninsured cars - UAE – Requests to add obesity surgery to insurance - Egypt – 41.2% increase in ins. assets in 2016-2017 - Jordan – Training on comprehensive and compulsory motor ins. - Deloitte to help Ins. blockchain alliance in Canada - Saudi Arabia – Health ins. complaints increase by 900% - Kuwait to witness shift in health insurance sector - Oman to bring in mandatory health ins. in 2019 - UAE - Etihad Credit ins. aims to boost exports - Bermuda leading a ReinsurTech revolution - Blockchain not understood by enough insurers - InsurTech innovations are assisting processes - ILS may be in unsustainable territory - The reinsurance cycle has disappeared - Excess capital remains dominant price driver - ILS can help cover cyber risk - M&A uptick to boost reinsurance demand - Cyber ins. market to double by 2020 to $8 billion - Reinsurance consolidation will continue: Fitch - Myanmar to open ins. to foreign companies - Lloyd’s will close syndicates that can’t make profits - India's ins. industry to be worth $280bn by 2020 - Africa – Ins. sector to cope with tech - Nigeria Ins. sector grows By 6.07% in Q2 - Cyber will redefine Property & Casualty - Saudi Arabia – Eradicating unlicensed ins. Sales - UAE – Dispute committee condition before lawsuits - Kuwait – Anti-money laundering issues 87 decisions - Egypt – 1st guide to protect non-banking customers - Comprehensive health ins. for all Saudis - Insurance most profitable sector in Dubai - Egypt – EGP 55 B ins investment in treasury bills - Egypt – 5 characteristics of ins. contract of students - InsurTech strategies to compete effectively - Egypt - Sharm El Sheikh Rendez-Vous next October - Egypt – Impact of increased freight cost on ins. - Reinsurers failing to close protection gap - Black swan event needed to turn the market - Anticipating “broadly stable” renewal rates - “Flat but functional” property cat market - Re/insurers risk irrelevancy by ignoring cyber - Japan – Ins. Losses of Typhoon Jebi up to $4.5 Billion - PERILS to assume CRESTA Secretariat - Insurtech can achieve 10% ROE - M&A create a new ecosystem - UAE – Weaknesses in car maintenance offered by ins. - Marine Day at Jordan Ins. Federation - Introducing Misr ins. in bourse increases profits - Egypt – Necessity of compulsory ins. on housing units - Lebanon – Ins. premiums up by 2% in H1 - Saudization of ins. jobs at 69% - KSA – Recent female driving increases ins. Prices - 3,500 opportunities for Emiratis in next 100 days - Riyadh hosts region’s premier healthcare platform - Oman – 12th Middle East Conference for Health ins. - Saudi Arabia - SAMA starts cyber security training - UAE introduces regulations for fintech - Kuwait – Health ins. project for all citizens - Bermuda key reinsurance hub despite U.S. Taxes - Aon Creates $350M of Cyber Capacity - Personal lines a challenge for reinsurers in Southeast Asia - Reinsurance sector net income jumps 75% in H1 - H1 catastrophes will have limited impact on reinsurers - Kenya's ins. sector looks to a brighter future - Singapore – Women drive better than men - Reinsurance rates likely to disappoint in 1-1 2019 - Life reinsurance underappreciated by market - Fitch ups reinsurance outlook to stable - Alternative capital provides competitive advantage - Foreign reinsurers soon in Saudi Arabia - Dubai’s FinTech Hive welcomes 22 startups in 2018 - Countdown begins for first UAE-made satellite - China – Insuer “PICC” adopts blockchain technology - Bahrain is a leader in Takaful - Tunisia – Habib Ben Hassine, new president of the FTUSA - Egypt- Tourism fed: compulsory ins on tourists harms tourism - Waiting for a $250bn industry loss - KSA – SAR 1167 avec health ins. Claims - Riyadh will host the Saudi Health Ins. Conference - UAE – Electronic platform do develop insurance - The Egyptian ins. market absorbs more companies - UAE – Regulating reinsurance serves the market - UAE – “No claim” certificate to insure car - Alternative capital becomes permanent - Zimbabwe pushes to harmonise insurance legislation - KSA – Insurers should issue ins. for people above age 65 - InsurTechs growing despite unsustainable loss ratios - ILS investor appetite uninhibited by recent losses - Hong Kong seeks to attract actuaries, fintech experts - Saudi Arabia – Insurers add premium for additional driver - UAE – Safe drivers don’t get ins. price discount - Lloyd’s to insure a digital currency platform - U.S P&C reinsurers given H1 boost - Kuwaitization of 22% of insurance jobs - Egypt – Proposal to create ins. brokerage union - European insurers favouring profitability - China - $100 million investment in insurtech - UAE – Ins. inv. in stocks & real estate at AED 27.67 B - bWallet ties up with Solidarity Bahrain - Jordan – Training on motor insurance claims - Egypt – Actuarial study to expand ins. on road accidents - Saudi unified motor ins. contract implemented - KSA – Unified motor contract has no effect on prices - UAE – AED 25 fees on motor ins. Contracts - Workshop of Sharjah chamber on Unified motor ins. - UAE – Profits of listed insurers up by 29.3% - Lebanon – The ins. sector grows by 4% in 2017 - Egypt – Compulsory ins. on tourists - Strong performance of top European reinsurers at H1 - Saudi Arabia – 3 insurers control 80% of health ins. Market - Egypt – Premiums to reach EGP 50 B in 3 years - $48bn ins. M&A deals in H1 - China - Ping An ins. addresses smart cities and supports blockchain - Lebanon – Annual Report of Ins. Control Commission - MetLife pilots Blockchain Ins. system for diabetes - Cyber insurers could lose 119% of policyholder surplus - Reinsurers to raise India flood rates - Bahrain - T’azur adopts motor insurtech for claims - China's ins. premiums falls by 3.33% in H1 - ACORD reinsurance data standards - Foreign insurers in Malaysia gain more freedom - UAE – Six main ins. distribution channels - Jordan – Insurers comply with the medical tariff - Jordan – Travel insurance outside the kingdom - Chinese launches blockchain platform - Jordan – Workshop on digital ins. Transformation - UK - Amazon considering ins. comparison site - Cats drive losses in 2018 but totals down significantly - Rate momentum to fade in 2019 - UAE listed ins. firms' Q2 profits jump 40% - Takaful Trends: Breaking the Reliance on the Qard’ Hasan - USA - Blockchain-Based Reporting ins. Tool - Alternative capital transforming the reinsurance market - Opening Saudi market to foreign insurers will enhance quality - UAE – An insurer adopts service solution for Apple devices - UAE – Ins. Authority: Motor prices include all fees - Egyptians spend annually $16 on insurance - KSA - SAMA warns against unlicensed persons - Lebanon – FAIR Reinsurance Forum next month - Alternative reinsurance capital hits $95bn - London Market’s electronic placing exceeds Q1 targets - KSA – Service provider to be paid within 45 days - Ras Al Khaimah – Workshop discusses motor ins. - Jordan – The number of victims of traffic accidents decreased - China banking and ins. regulator supports for more lending - Arab Re strengthens presence in GAIF’s 32nd conference - GCC – Ins. market will reach $44 B in 2021 - Tunisia – Banking agencies pay prm of 2000 dinars annually - California insurers must reevaluate wildfire risks - Droughts, wildfires & floods cost over $7.3bn in July - Dubai regulator joins global fintech network - UAE – 5 “ISO” certificates to Ins. Authority in 2018 - Artificial Intelligence can beast best cyber defenses - Moody’s upgrades Brazilian ins. sector outlook to stable - Oman - Ins. losses of cyclone Mekunu reach $281mn - Jordan – Training on “loss of profits” in fire ins. - Italy - Bone-breaking ins. fraud uncovered - New Cat bonds hit $11bn in 2018 - Asian reinsurers remain profitable in 2017 - Hong Kong attractive to Chinese ins. Consumers - Jordan – Training on ins. accounting completed - Egypt – Ins. investments in treasury bills at EGP 49 B - Insurance Authority: Emiratisation a vital issue - UAE – Following ins. complaints through text messages - 74% of Jordanians are medically-insured - Jordan – Profits of 21 insurers jump by 332% in H1 - KSA – Optional cover hinders health ins. of education field - UAE – Abuse costs 15% of health premiums - UAE – Compulsory malpractice ins. for eng and physicians - UAE – New regulations on online ins. Sales - UAE – 70% share of claims in motor premiums - UAE – Banks allow premium payment over 1 year - Kuwait – General ins. authority required - Reinsurance demand to grow in Asia - Global ins. M&A activity rises further in H1 - Insurtech firm wefox in talks with Softbank - Technology creating competition for Asian reinsurers - UAE – AED 15 B ins. health claims in 2017 - Carine Geagea, Risk Management Manager: “Credit Ratings: Risk controls or barriers to success?” - Saudi Arabia - Uber launches driver insurance - KSA – Health ins. complaints up by 907% - Egypt - Uber extends insurance to drivers - Egypt – Regulator signs microinsurance deal - UAE – 2nd highest penetration rate globally of shared economy - Saudi Arabia – No extended deadlines for liberal jobs - Oman – Ins. intermediaries meet the National Training Fund - Jordan – Marine and aviation ins. Training - KSA – Ins. profits to grow 100% in Q2 - KSA – 86% of citizens without health insurance - Aviation market to remain stable through 2018 - European insurers back Europe’s largest fintech fund - UAE – AED 2.2 B ins. profits in 2017 - UAE – Program to identify intentional fires - UAE – Artificial Intelligence in ins. supports economy - UAE – First decrease in motor ins. Prices - Continuity clause for 'no-deal' Brexit - Japanese insurers rated for green investment - Indonesia - Low ins. penetration but high profitability - Indonesia pushes back mandatory shipment ins. - Nigeria: Regulatory ins. capital raised 3 times - USA - Insurers turn to technology to woo drivers - UAE - Replacement car popular among ins. Clients - Bahrain - Mandatory Health Insurance Forthcoming - Jordan – Training on IFRS 9 - Egypt – Ins. sector attracts investments - Large insurers Look to cover crypto businesses - Japan’s life insurers offer answers to global peers - Global ins. cat losses hit $21 billion in H1 2018 - London market should identify Artificial Intelligence risks - Former Lloyd’s Chairman warns about Brexit - M&A Likely to Become More Challenging - UAE – 5 requirements for bancassurance - UAE – Emiratization accelerator in financial sector - Oman – Ins. contribution to GDP at 1.63% - Negative outlook for Jan 2019 renewal - KSA – Uniform compulsory motor contract updated - GCC Islamic ins. sector to stay profitable in 2018 - Tunisia – GWP increase by 12.1% in Q1 - Divergent reins. sector rating outlooks - Insurers to underwrite crypto risks - Pricing in line with expectation - Egypt – EGP 110 million claims in metro and train pool - Mauritania – Guarantee of 300 M ougiyas on insurers - Saudi Arabia - New regulations to help consolidate ins. Sector - China’s Anbang to sell $10B overseas properties - Shipping losses in Asia on the rise - China - Adults aged 26-45 top general ins. Buyers - KSA – SAR 651 M property premiums in Q1 - UAE – Health ins. contract to be renewed - Oman – Training on pricing of health ins. - Projected asbestos industry losses up $10bn - Egypt - State interested in developing ins. System - Egypt – Ins. sector submits 103 proposals - Egypt – Ins. investments to reach EGP 150 b in 2022 - Jordan – Liability insurance training - UAE - Car ins. premiums to drop 8% in 2018 - KSA – SAR 19 billion of health premiums - Egypt - Mandatory insurance for tourists - Mauritania - Insurers to be regulated by central bank - Oman – Plans for compulsory health ins. Underway - Egypt – Issuance of microinsurance electronically - Egypt – Debate on a better future for insurance - M&A deals to increase despite rising costs - Saudi insurers have a chance to improve results - Clear risk strategies more vital for (re)insurers - US cyber insurance premiums up 37% - First standard for cyber data breach released - Fintech, insurance drive job creation in Singapore - India - No vehicle ins. without pollution certificate - Artificial Intelligence in war on ins. Fraud - Catastrophe risk capital gaining importance for insurers - Digital ins. platform launches for China’s elderly - A 1$ hurricane protection saves $100 in losses - Asia - Travel ins. to reach US$9.9 billion by 2022 - Time for insurance business transformation - Global Insurance Premiums Rise by 1.5% in 2017 - UK brokers’ market share rises with digital channels - Brexit Begins to Hit UK Financial Services - Expanding use of Blockchain in insurance - Dubai ins. plan to cover hepatitis C - KSA – Review of health ins. of citizens - Algeria – GWP at DZD 133.3 billion in 2017 - Egypt – cooperation between insurers and national health ins. - Cooperation between Egyptian & Tunisian ins. Federations - UAE - Action on dependents’ health ins. Renewals - UAE – Uninsured Villas - Artificial Intelligence may run a call center - KSA – 23% of health insureds are citizens - Headwinds curb positive marine rating movement - Steady growth in cyber market - Tax reforms to restore underwriting profitability in U.S - Egypt – The insurance sector to adopt IFRS9 - Kuwait – Proposal to settle motor claims within 15 days - Insurers must seize potential of new tech - Solvency II beneficial but deterring long-term business - KSA – Insurers will face more challenges in 2019 - Oman – Manpower ministry and insurers collaborate - Bermudian reinsurers passed 2017’s test - Insurance industry calling for inclusive workplaces - Oman – Fire insurance training - Reinsurers must innovate to overcome challenges - Cat bonds hit $35.3bn risk capital outstanding - Allianz launches €1bn share buy-back program - UAE – Insurers should issue contracts in Arabic - Reinsurers unlikely to earn back 2017 cat losses - Further disappointment for Jan 2019 renewal possible - Florida leads price declines in mid-year renewals - Crypto sector won’t affect German financial stability - China - Preference for Hong Kong reinsurers - Amazon enters online pharmaceutical field - New Saudi Health Ins. contract implemented - Bank of England warns about crypto asset risks - Bosch to connect vehicles to digital services - Prudential develops digital claims for hospitals - UK motor ins. sector posts record results - UAE - New innovation strategy in insurance - UAE – Better ins. products instead of inv. Risks - Egypt – Compulsory insurance on small loans - Insurers hopeful M&A will transform their models - MENA - Continued ins. growth & profitability - Saudi Arabia – SAMA warns 14 companies in ins. Sector - Insurers slow to adopt tech risk being replaced - Tokio Marine prepares for further acquisitions - KSA – No different ins. products for women - Egypt – Introducing cyber insurance - 9% of banks global income at risk from cyber - China looks to trial catastrophe bonds - Saudi ins. stocks soar with entry of female drivers - Egypt – Electronic issuance through the post - Germany – Reputation insurance in social media - Global organizations don’t learn from cyber mistakes - 10 of the most innovative fintech firms - Neutral outlook for European reinsurers - Legacy long-term care remains top concern - Saudi Arabia – Competition in motor ins. Market - Amazon launches health insurer - Jordan - New Cancer Insurance Programme - Jordan – Ins. challenges constrain profitable growth - 40 Saudi female accident surveyors graduate - Special health insurance for Saudi citizens - UAE – AED 4.89 Billion GWP of unified motor contract - Egypt – 513 thousand microinsurance contracts in 2017 - 2017 losses unmasked reinsurance price inadequacy - Dubai’s financial centre partners with Startupbootcamp - Abu Dhabi Inv. Authority acquires stake in British insurer - Insured Sum of Russia World Cup $10 B - Tokio Marine acquires Thai and Indonesian units - Insurers move from blockchain to R3’s Corda - India - Blockchain for crop insurance scheme - Lebanon – Insurance premiums increase by 7% - Reinsurers well positioned for hurricane season - UAE – Uninsured cancer, Thalassemia and psychiatry - UAE – Excellent rating for 7 insurers - UAE – Unified contract introduces fair pricing - UAE – Further growth for ins. Market - UAE - Insurance to replace bank guarantees for workers - Egypt - Misr Insurance IPO before year-end - Digital insurance deal between AXA and ING - Lloyd’s begins search for Insurtech talent - Egypt – Compulsory ins. on microfinance customers - Egypt – Necessity of underwriting discipline - Kuwait – Settlement of small traffic accidents - Amazon to bring major disruption to insurance - $320bn cost each year from man-made risks - Commercial insurers must embrace technology - Solvency remains stable in China's insurance sector - London market trades aviation risks electronically - UAE – Motor ins. prices to decrease - UAE – 9569 ins. complaints of car owners - Bahrain – Health ins. system will generate jobs - Egypt - 2018 the year of insurance - Meeting of the Board of Directors of Arab Re - Meeting of the Board of Directors of Arab Re - Mastercard blockchain system to secure payments - Cyber ins. premiums to dominate by 2021 - Amazon sizes up potential home insurance move - M&A to continue fuelling insurance deals - Lebanon – Health ins. for Egyptian community - Egypt – EGP 210 million Takaful premiums in January - Reinsurance prices at risk of declining in 2019 - ILS influence stops further rate improvements - Saudi Arabia – SAR 11.1 billion motor GWP in 2017 - UAE – 27.7% increase in ins. profits in 3m - Post-hurricane renewals show flatter cycle - Irma showed the robustness of reinsurance in Florida - KSA – Health insurance cost up by 132% - Jordan – JOD 7.5 million insurance profits in Q1 - Reinsurance capital to reach new heights in 2018 - Willis praises revolutionary Insurwave blockchain - Jordan – Training on English in insurance - Insurtech Investments hit new high in Q1 - Modest-sized losses won’t change market - Disappointing Florida cat renewals - UAE – Authorization needed for bancassurance - Oman – Discussion of unified ins. Contract - Egypt – Insurers to collaborate with e-payment firms - 2018 cat bond & ILS issuance hits $8.2bn - Alibaba insurtech promotes blockchain in healthcare - Negligible rate increases at June 1st - Insurers must innovate to counter BigTech - KSA – 51% of ins. contracts in healthcare - Allianz acquires 8% stake in Africa Re - UAE – Top 10 insurers control 75% of market - Egypt – Expert requests “Aman” certificate for fishermen - Canada - Pay-as-you-go car insurance is possible - UAE – Insurance app encourages safe driving - Oman – Vision ins: Mekunu claims not to exceed OR100,000 - 2018 Hurricane season should be an average one - China hits ins. sector with nearly $10m fines - Oman – Compulsory health ins. to be implemented - Jordan – Insurers’ strike on Wednesday - Egypt – Black list for rejected customers - Morocco – Digital database to fight motor ins. Fraud - UAE – Ins. sector emiratization to be monitored in 2018 - Jordan – Jordan ins. federation rejects tax law - Egypt – Board changes at Misr Holding help stock listing - No deal for Swiss Re and SoftBank - UAE – Ins. investments at AED 61.5 B in 2017 - UAE – Unjustified increases in medical bills - Oman - Insurers urged to ease claims processing - Egypt – New board for Misr Insurance Holding - KSA - New rules will allow more M&A deals - Oman extends closure of airport due to storm - 1st blockchain platform for marine insurance - IFRS 17 set to radically change business models - “Mekunu” cyclone heads toward Oman - Saudi Arabia adds 14 new hospitals in 2017 - Rate rises fading as mid-year renewals - Cyber competition driving down premium prices - InsurTech deals reach record high - Upgrading technology is top priority - IUA launches reinsurer focused cyber group - Privacy Laws could hamper ins. underwriting - A.M. Best to Attend 32nd GAIF conference in Tunis - Ins. comparison portal to launch in Bahrain - KSA - Health ins. council stops 8 optic branches - Jordan – Income tax of insurers increased - Flat mid-year renewal possible - Reinsurance business model challenged - Capital markets gains reinsurance influence - ILS as an asset class to offset market volatility - Dubai - New insurance corporation to focus on quality - Dubai - fintech accelerator opens applications for 2018 - Bahrain – Unified comp motor contract in mid-2018 - Egypt - Electronic ins. platform for exchange of data - UAE – Insurance project to benefit 5.7M workers - Oman – Insurers raise capitals by 14% in 2017 - Bahrain – Solidarity: Good results of merger - Protectionism a challenge for reinsurers - Saudi ins. spending per capita at SAR 1,121 in 2017 - Bahrain – IFRS17 insurance seminar - Insurers unprepared for extreme weather - Morocco – GWP at 40.65 billion dirhams in 2017 - Saudization at 70% in insurance sector - UAE – Q1 profits of insurers up by 24% - UAE - Insurance Authority suspends 3 companies - Egypt – First agricultural ins. contract in July - Takaful in MENA - Ingredients for Success - UAE insurers experience surge in fire insurance - KSA - SAMA commits to merge insurance companies - Oman – Training on IFRS 17 accounting standards - KSA – Timetable for modified health contract - UAE – Comp. motor declined for certain vehicles - Lloyd’s: Poor results in 2017 - Bermuda - ILS reach new high at $28 billion - Saudi Arabia – Ins. profits down by 67% in 3m - UAE – Stocks and bonds: 60% of ins. inv. - Oman – Ins. capitals increase by 14% - Reinsurance pricing trends unsustainable - Mr. Mohammed Hammoud, Head of Technical, “Improving underwriting conditions has positive returns” - Europe’s Regulators unprepared to protect privacy - Workforce needs reshaping to Embrace AI - Opportunities for continued price firming - AXA Raises $2.75 billion in year’s biggest IPO - China - Anbang chairman sentenced to 18 years in jail - 26 Experts warn about Artificial Intelligence - US cyber premium reach $2.1bn - Willis Towers Watson gets ready for M&A - Saudi govt seeks higher insurance coverage - KSA – Reform programs to support insurance - Weak pricing outlook for mid-year renewals - African insurers confident following economic recovery - UAE - Insurance Tech firm Aqeed Launched - UAE - Daman hosts Intl. Federation of Health Plans - Jordan – 67% of bakeries’ workers are not insured - Africa - Rates pressure but opportunities prevail - Sharjah workers to get free health coverage - Jordan – Tax on insurers to increase to 40% - Egypt – Microinsurers to be established - Egypt – Regulator raised ins. inv. in stocks to 40% - KSA – VAT to be applied retroactively - UAE – “Fire” contract could be part of rent - UAE – Licenses of 24 brokers and agents canceled - Jordan – Opposition to “App-based transportation” - UAE – Banks compel clients to buy insurance - Marathon of Insurance Federation of Egypt - Reinsurance prices may not be sustainable - Reinsurance to remain key line in London - KSA - First Auto Claims Center for Women - Jordan – Training on Technical Reserves - Capital deployment to dampen mid-year renewals - European Central Bank test on cyber attacks - KSA - 907% rise in health insurance complaints - Saudi Arabia to tempt more foreign insurers - UAE - AED1.1 billion marine ins. GWP in 2017 - Blockchain a potential game-changer - Marine insurance conference in Dubai - Egypt – Study on a natural risks pool - The reinsurance market is unsustainable - M&A is driving reinsurance demand - Blockchain dependent on industry leaders - Egypt – GWP to reach EGP 50 billion in 3yrs - Jordan – Training on governance, compliance and risk - Bahrain – Insurance does not exceed 30% of homes - Egypt – New products that fit low income persons - Digital disruption to cost 40% of insurance revenue - Cat bond issuance at $3.58bn in Q1 - The human touch is still needed - Indian regulator gives preference to local cessions - UK - Reform of fire tests of building materials - Blockchain opportunities trigger risks - 50% of manufacturers victim of cyber attack - Jordan – Workshop on cyber attacks - Kuwait – Gulf insurance launches training center - Lloyd’s to benefit from further rate hikes - 8% of Asia-Pacific disaster losses insured - DGM Mr. Hussein Mallouk: A. M. Best categorizes balance sheet as very strong - DGM Mr. Hussein Mallouk: A. M. Best categorizes balance sheet as very strong - Kuwait – Training on cash flow and liquidity - Egypt – Insuring banking transactions - Reinsurance RoEs & combined ratios weaken - Lloyd’s commences process for post-Brexit - Saudi insurance to remain profitable in 2018 - KSA – SAR 15.3 billion health ins. claims in 2017 - UAE – Marine insurance regulation requested - Egypt – Misr ins. profits rise to EGP 1.3bn in 9m - Dubai – Expansion of DIFC’s FinTech program - Kuwait – Price wars harm insurance sector - Kuwait – Anti-money laundering in insurance - Egypt – 5 insurers control 87% of life premiums - UAE - «Passenger» covers treatment abroad in 10 cases - European reinsurers’ Q1 results to normalize - Technology will transform reinsurers’ efficiencies - Credit insurers prosper as tech investment increases - UAE – ID to replace health insurance card - Jordan – Training on political violence insurance - Egypt – Raising insurance contribution to GDP to 2% - Egypt – Supervision of insurance ad materials - Egypt – Life insurance boom expected - Investments help reinsurers stay profitable - Reinsurance pricing stable to positive - COFACE downgrades Tunisia's rating - Saudi Arabia – SAR 30 billion insurance reserves - UAE – AED 16.5 billion ins. shareholders’ equity - Lebanon – Decision to make health contracts renewable - Unified car security standard on cellphone keys - Bahrain – 14093 employees in financial sector - Global reinsurance capital at $605bn - Terror risk to drive reinsurance demand - ILS advance continues - Kuwait – Insurance for retirees extended 3 months - Lebanon – Insurance GWP at $1.63 billion in 2017 - Egypt – Launching a policyholders’ protection fund - Egypt – GWP grow by 33% in 2017 - KSA – Coordination to issue contracts for importers - Bahrain – No health insurance fees on citizens - Egypt – Aman contract targets 3 million citizens - Reinsurers using retro more after losses - UAE – Dividends of insurers up by 15.3% - Egypt – EGP 2 billion insurance capital increase in 2017 - Reinsurers will overcome insurtech threat - Intelligent machines will alter insurance industry - Kuwait – High insurance committee established - Egypt – Registration of insurance broker trainees - Protectionism hinders reinsurance market - Capacity remained strong at April 1st renewals - KSA – Revealing insurance concepts to media - UAE – Decreasing depreciation of spare parts - Kuwait – Capital Markets Authority possible regulator - P&C price increases for European reinsurers - UAE – Family Takaful to be regulated - Kuwait – Medical malpractice insurance agreement - Bahrain has 1st Arab fintech regulation - Jordan – Claims adjustment workshop - Hopes for reinsurance rate increases dashed - Lloyd’s outlines disruptive technology challenges - Japanese P&C outlook remains stable - Jordan – Medical malpractice insurance fund - European reinsurers accuse India of protectionism - Africa thinking digital to revolutionize reinsurance - Bermuda - Increase in reinsurance registrations - Insurers study blockchain to fix health providers - Google, Amazon & Apple move into healthcare - UK - Competition & Brexit main challenges - Egypt – Insurers monitor aviation pricing - Egypt – Intensive efforts to fight fraud - Oman – 50% Omanisation of senior management - Bahrain – Traffic accidents handled by insurers - Egypt – Insurance fraud case uncovered - Catastrophe bond market buoyant Q1 2018 - KSA – Corporate profits improve in Q1 2018 - UAE – Rating agencies positive on insurers - UAE – Addendum part of contract - Jordan – Engineering insurance training - UAE – Motor repair costs to decrease - Egypt – October Conference to boost ins. Sector - Walmart to acquire Health Insurer Humana - South Korean - Claim denied in digital exchange - Artificial Intelligence risks are high - 85% of insurance CEOs worry about technology - InsurTech carries consumer protection risks - 2018 a good time to enter ILS - InsurTech could change business model - P&C reinsurers hit by 2017 catastrophes - Reinsurers face challenges in the future - Efficiency to expand protection that ILS provides - Morocco – Insurers worried about traffic accidents - Self-driving car fatality threatens insurers - USA - Investment gains mitigated life/health losses - 2018 Lloyd’s challenge: pace of tech upgrades - UAE - 20% 'no-claims' discounts for drivers - Oman - Two citizens arrested for fake claim - European reinsurers to see rate improvements - Insurance M&A will accelerate over 2018 - Lebanese insurers demonstrate resilience - Oman – Insurance Human Resources forum - Egypt – Capital increases of 6 insurers - Egypt – Insurance sector growth in 2019 - Europe turns into key insurtech hub - Cyber risk-model with backing of Symantec - Singapore- Regulator promotes sustainability - Don’t rely on ambiguous triggers in ILS - Climate change a P&C threat & opportunity - Artificial intelligence a reinsurance game changer - UK Government to welcome ILS investors - Fintech agreement between Hong Kong and Gibraltar - UAE – Regulator says driving record certificate free - Lloyd’s market falls to £2bn pre-tax loss - Tech insurance disruption, a reality in 2018 - Reinsurers obliged to develop new covers - UAE – AED100 price of accident record certificate - Oman – OR 623 million insurance assets in 2017 - Lloyd’s introduces electronic placement - Reinsurers are targeting primary business - UAE – 5% growth in professional contracts - Insurers at initial stage of data maturity - Capitalising on African insurance opportunities - Russian reinsurer gets Indian authorization - Jordan – Training on engineering insurance - Oman – Insurance employment for Omanis - Egypt – Health insurers to overcome losses in 2018 - Problems of microinsurance in Egypt - UAE – Calls to insure vitamin D screening - Iraq – Calls to restructure insurance sector - EU’s data protection to impact insurers - Insurance CEOs pessimistic on digital skills - Egypt – Ins Federation to boost premiums - European Commission’s Fintech Plan - Big data, cyber security, and AI top trends - French mutual insurers face losses with new rules - KSA – Price wars and admin. decrease ins profits - Kuwait – Anti-Money laundering in insurance - Algeria – Finance ministry tackles claims delays - Insurance M&A market more sophisticated - Saudi Arabia – Early to assess ins. impact of driving women - Kuwait – Medical malpractice ins. Contract - Egypt – Regulator launches ins. brokerage training - Europe - M&As to increase once Brexit is finalized - Easing financial payments within GCC - UAE - Reduced prices for accident free drivers - Jordan - Elderly to join health insurance scheme - China merges bank and insurance regulators - KSA – Corporate governance of insurers audited - UAE – Insurers seek sustainable growth - Kuwait – Insurance Authority as necessity - Egypt – Insurers not involved with agriculture - UAE – Artificial intelligence threatens insurance jobs - Re/insurance M&A to persist in 2018 - Cyber premiums to reach $6.2 billion by 2020 - Nat cats: hundreds of millions dollars in Feb - Saudi Arabia - Progress in health sector privatizations - Female Saudi drivers to boost motor insurance - Morocco - Sanlam acquires SAHAM Finances - Sudan hosts international Takaful conference - UAE – Insurers asked to comply with financial laws - Jordan – Possible launch of agricultural insurer - Jordan - JD602m healthcare reform plan - Alternative capital & reinsurers interdependent - Lebanon – High Health Council launched - Iraq – Dedicate 2018 as an insurance year - Egypt – New contract like “Aman” within 3 months - Nigeria – Stagnation in prices of insurance stocks - Saudi Arabia – Motor insurance prices up by 24% - Oman – Employment and training fair 2018 - Jordan – Training on insurance portfolio analysis - Egypt – Insurers to fight cyber risks - UAE – Takaful premiums at AED 8 billion - Dubai Financial Authority warns about fraud - Egypt - Aman certificates launched - Egypt – Insurance increases financial inclusion - Eng Majed Smeirat president of Jordan Insurance Federation - UAE – Digital insurance a major milestone - Reinsurers’ set for profitability gains in 2018 - M&A is down to lack of organic growth - KSA – Insurers classify hail as catastrophe - China – Regulation on asset liability management - Global insurance pricing up by 0.8% in Q4 - London is losing market share - Health insurance to cover Saudi citizens - Dubai – Blockchain-based automobile tracking - UAE – Insurance growth at 20% in 2018 - Jordan – Training on reinsurance - Moody’s: GCC insurers face moderate risks - UAE – 26 insurers achieve profits in 2017 - KSA – 140 government hospitals serve insurance - Conditions to create a ReTakaful company - KSA – Settlement of 50 health insurance cases - Jordan – Training on insurance arbitration - Egypt – Health insurance prices up by 35% - Egypt – Life insurance for the poor - UAE insurers report strong 2017 results - KSA - Health insurance scheme for teachers - KSA - Insurers blamed for shortage of medical staff - Mena sovereign borrowing to decline by 6% - UAE – National insurers neglect life products - Chinese regulator seizes insurer - Asia to be a driver of InsurTech - Getting used to lower property cat margins - Emergency travel insurance for Emiratis - UAE – Need to increase insurance capital in 2018 - Jordan – 2017 insurance profits Drop 99% - Egypt – Life Insurance for low-income groups - UAE – 2018 insurance regulations and beyond - Morocco – Strike of insurance brokers - Fresh opportunities for innovative reinsurers - Latin American protectionism threatens reinsurance - Egypt – Will insurers enter Bitcoin field? - Egypt's social safety net: Protecting the poor - Kenya open to more insurance investors - Kuwait – Questions on adding clinics to “Afiya” - KSA – Insurance and health sector privatization - UAE – Insurers record 40% growth in profits in 2017 - Insurers cautiously test bitcoin coverage - Cyber risk management lags behind threat - KSA – Health council renews license of 5 insurers - Lloyd’s to launch technology Innovation Lab - U.S. property insurers’ hopes for rate hikes dampened - Artificial Intelligence underwriting with Microsoft - Market conditions encourage M&A interest - Chinese regulator controls product irregularities - Disaster risk transfer to protect development - Hurricane Irma claims $10.2bn in Florida - Jordan – Premiums at JOD 600 million in 2017 - Egypt to host FAIR Life Forum - Malaysia - USD 352 billion life insurance sum assured - Abundant capital mutes property market firming - GCC - Negative outlook on insurance markets - Saudi insurance sector facing uncertainties - Kuwait Ins Federation: Al Hasan as chairman - Two Bahrainis forge the physician’s signature - KSA - Authority for care of people with disabilities - KSA – Emergency cases outside health network - Innovation to boost insurance revenues by $375bn - No hard reinsurance markets - Retakaful growth expectations disappoint - Reinsurance evolution ongoing - Cyber offerings to increase in 2018: Fitch - UAE – Delays in insurance claim payments - Saudi Arabia – Media and insurance awareness committee - UAE – Insurers do not provide car replacement - Dubai Health Authority calls for contract renewals - Insurance Authority issues Emiratization manual - UAE – Car insurance to cover fog-related damages - Dubai ambulances to collect fees from insurers - Reinsurance rate improvements to continue in 2018 - Historic $1.36bn World Bank cat bond - UAE – Dubai courts and Insurance Authority meet - Reinsurance capacity set to rise to $427bn - Bermuda to attract M&A and start-up activity - Apple, Cisco team up with insurers - Egypt – Regulator handles the national reinsurer - Lloyd’s could mandate electronic placement - Physical activity a powerful predictor of mortality - Storm Friederike to affect German insurers - Egypt – Misr Insurance Takaful to be launched - Egypt – Insurance keyword to achieve large projects - Egypt – 4 axes for insurance market strategy - Egypt – Train ticket change to benefit insurance - UAE – Maximum price for high accident frequency - Abu Dhabi health dep. warns over utilization - Kuwait – Refusal of immediate claims settlement - Jordan – Fire and engineering insurance training - UAE - VAT poses challenges to the insurance sector - UAE - Mandatory insurance for sailors - KSA - Policies sold under “C” not recognized - Saudi Arabia – Obesity surgery covered - Saudi Arabia - New services added to health policy - KSA – 27.5$ billion claims paid in 5 years - 2018 cat bond issuance at least $10bn - Reinsurance price rises likely unsustainable - KSA - Enforcing motor insurance compliance - Dubai advances with health insurance-visa linking - Technology giants to disrupt healthcare - 80% of investors still interested in ILS - Arab Health exhibition in Dubai - UAE – Emiratization linked to Premiums - Egypt – Workshop on Arab War Risks Insurance - Egypt – Insurers invest in 260 projects - Egypt – Insurance law unchanged during 38 years - Lloyd’s concerned over Brexit uncertainties - Storm Herwart insured loss at EUR 255m - ILS capital grew to $88bn in 2017 - High-loss cover of Saudi municipalities suspended - Egypt - Insurance program for tourists - Egypt – EGP 684 million Takaful claims in 10m - Egypt – Insurers prefer group health - Saudi Arabia – High insurance rates for drivers below 21 - Usage-based insurance of Saudi governmental cars - UAE – Positive 2018 expectations for insurance - Jordan – Health & Life insurance training - UAE – 10% insurance growth in future years - Kuwait – Contribution of insurance to the economy - Egypt – Engineering insurance premiums up 142% - Morocco – Platform for insurance complaints - Global companies to follow EU’s data protection - London’s Priorities: Regulation, Brexit, Modernization - UK - Insurer discrimination against mentally ill - Saudi Arabia – Catastrophes under comprehensive motor - 2017 catastrophes, an opportunity for reinsurers - India – Reinsurance regulations by February - JLT Re launches economic capital modelling - AIG to buy Reinsurer Validus for $5.6B - Harvey, Irma and Maria losses start to rise - Electronic distribution to grow in London - Opportunities in UN Sustainable Development Goals - Earthquake cat bond launched by World Bank - UAE – 30% maximum investment in real estate - Kuwait – Insurance Authority as a necessity - Germany - Storm Friederike insured loss at EUR 800m - California wildfire insured cost at $2.5bn - UAE - Insurers to see positive results in 2018 - Egypt - 10 goals of Insurance Federation - Egypt – Takaful premiums at EGP 3 billion in 10m - Cambodia - Program for drought insurance - Saudi Arabia – Premiums at SAR 8 bn in 3rd quarter - Kuwait – Call to establish Insurance Authority - Storm damage to cost Germany €500m - India - Foreign reinsurers to call for level playing field - Lebanon – Challenges of health insurance - Alternative capital grows 9% in 2017 - Multi-line rate hardening at 1/1 for Lloyd’s - Artificial Intelligence to replace 90% of sales staff - Alternative capital altered reinsurance - European reinsurers to show 1.5% rate increases - Lloyd’s Brussels subsidiary in January 2019 - Cyber rises to 2nd biggest global risk - Egypt – 15 licenses for digital insurance - Egypt – Insurance sector investments EGP 86bn - Egypt – Negative insurance impact of GATT - UK – Insurance and finance fraud at $2.9B - Lebanon - Insurance fraud investigation - Egypt – Need for nuclear insurance - Modest market hardening in specialty lines - 2018 to be a record year for ILS - UAE – “Unlicensed” insurance brokers - Egypt – Insuring judges during elections - Egypt – Traffic law increases insurance profits - Jordan – Health agreement for journalists - Bank of England to lighten Solvency II rules - European reinsurers meet demands for quality - Challenging renewal for retrocession - India to continue protectionist reinsurance policy - Egypt – Plan to insure ships against piracy - Egypt – Takaful sector expected to grow - Egypt – Condition for USD broker commissions - Lebanon - Banks an essential partner of insurers - China's insurance premiums up 19% - India - Cyber insurance take-up rises by 50% - Ghana - Uber Introduces Insurance for Riders - Uruguay - Insurance against lack of rain and oil prices - Abu Dhabi – Plan to cover mental illnesses - Saudi Arabia – No approval needed for health emergencies - Saudi Arabia – 60% decrease of engineering insurance - Egypt – Property insurers raise prices - Jan 1st reinsurance price increases a good start - USA – 2018 Flood Program with Private Reinsurers - Kuwait – Need for new insurance regulations - Sudan – Parliament approves insurance law - UAE – Old motor contract not valid - UAE – Contracts exempted from retroactive VAT - Egypt – Insurance financial inclusion in 2018 - Egypt – Engineering claims at EGP 164 million in 9m - Headwinds limit reinsurance pricing corrections - $12.6bn of catastrophe bonds in 2017 - Insurers keep Ethiopian Reinsurance afloat - Rate movements varied at 1/1: JLT Re - UAE – No mechanism for retroactive VAT - UAE – Health insurance covers 4.6 million persons - Egypt – EGP liberalization supports insurance - India - Amazon to invest in insurtech - Egypt – Life insurance challenges and opportunities - Algeria – 3rd motor insurance price increase - Jordan – Insurers to improve road safety - 10% of African insurers ready for risk management - Saudi Arabia – Suspension of 15 health insurers - Saudi insurers to increase saudization rate - UAE – Insurance is a winner in 2017 - UAE – Insurance mergers a strategic choice - Oman - Islamic finance knowledge held - Saudi Arabia - Security camera as a requirement - KSA – Insurance contribution to economy 1.1% - Egypt – EGP 1 billion energy premiums in 9m - Jordan – 60 age category under free healthcare - Lebanon – Call to strengthen the insurance sector - Decoupling of reinsurance pricing and risk - Price rises are more durable in primary lines - Saudi Arabia – Travel insurance provides protection - Kuwait – Call to improve insurance regulation - Europe: run-off business activity in 2018 - IFRS 17 won’t impact insurers’ ratings - Saudi Arabia - 15% discount for safe drivers - Saudi Arabia – Usage-based motor insurance soon - Lloyd’s to focus on new technologies in 2018 - European insurers well capitalized despite losses - A.M. Best affirms B+ rating of Arab Re - Saudi Arabia - Fraud caused high claim rejection ratio - Saudi Arabia – Visible guides for health insurance - A.M. Best affirms B+ rating of Arab Re - Oman - Seeking time for mandatory health - Dubai – Fines for non-renewal of health card - UAE – AED 5.3 billion motor premiums in 2017 - A.M. Best affirms B+ rating of Arab Re - UAE – Motor premium cover family members - S&P: global reinsurance rate to rise by 0%-5% - Reinsurance price increases are temporary - A.M. Best affirms B+ rating of Arab Re - UAE – Hardening reinsurance conditions - Egypt – Successful 2018 reinsurance renewals - Egypt – EGP 18 billion insurance treasury bills investment - A.M. Best affirms B+ rating of Arab Re - Dubai Chamber tackles legal aspects of claims - Lebanon – 2016 Annual Report of Insurance Sector - Negative outlook on global reinsurance market in 2018 - A.M. Best affirms B+ rating of Arab Re - Kuwait – Training program on marine insurance - Islamic insurance merger creates UAE giant - UAE – Rules on price definition and vehicle documents - A.M. Best affirms B+ rating of Arab Re - Saudi Arabia – Insurance covers influenza vaccine - UAE – Wearable technology transforms insurance - Egypt – 4 methods to limit “fire” losses - GCC - Improved profits of Islamic insurers - Saudi Arabia – 11,000 insurance complaints in 5 years - Saudi Arabia – Unified form for motor prices - Egypt – Digital insurance as major development - Saudi Arabia – Immediate action on court rulings - Dubai – Cancer to be gradually insured - Governments to drive InsurTech growth - International Supervisors tackle systemic risk - GCC Ins market at $44 billion in 2021 - Saudi Arabia – Drones to monitor traffic accidents - Tunisian insurance employee imprisoned for 50 years - Robust reinsurance renewal negotiations - Oman – OMR358m Premiums in 9 months - Oman – Preparations for compulsory health insurance - Jordan – 2018 Training plan of Insurance Federation - Reinsurance investment in InsurTech $1 billion in Q2 - Bahrain – Insurers to assess 90% of accidents - Oman – Executive training of 25 employees - Egypt – Premiums down due to low awareness - Egypt – Dealing with African reinsurers - Fitch remains negative on reinsurance - Moody’s stable on global reinsurers - Tunisia – 90% of motorcycles uninsured - Tunisia – Toward an anti-fraud agency - 3 cancers to be covered in Dubai - UAE – confusion about Value Added Tax - Saudi Arabia – SAR 6 billion claims in 3 months - Bahrain Kuwait Insurance to raise capital - UK – Premium discount for self-driving vehicles - Egypt – EGP 8.8 billion insurance claims in 9m - Hurricane Maria estimates reduced to $27-$48 billion - Reinsurance rate hikes at 1/1 renewals - Egypt – Death to weather is covered - After losses, insurers to use more reinsurance - Third-party capital willing to reload - Counterparty diversification affects loss level - Saudi Arabia – High motor deductibles - Saudi Arabia – retroactive effect of VAT - UAE – Health insurance with low benefits - Kuwait – Gulf insurance wins CII agreement - UAE – Adoption of new insurance law - Saudi Arabia – Insurers plan mergers - Egypt – Financial Authority consults Chinese regulator - Lloyd’s: competitors seem to be governments - Abu Dhabi - Daman signs a fintech deal - Merger of Solidarity and Al Ahlia complete - UAE – New reinsurance regulations - Egypt – Insurers to adopt digital system - CVS Health to acquire Aetna for $69 billion - Global banks face significant cyber threat - Egypt – EGP 22 billion insurance premiums - Egypt – Awareness campaign of insurance federation - Egypt – Absence of health insurance legislation - Algeria – Electronic payment of premiums - UK government approves ILS regulations - Catastrophes highlight protection gap - Egypt – Federation supports private health role - Morocco – Fake accidents raise insurance concerns - UAE – IAIS conference in 2019 - UAE – Investment limits applied in insurance - Oman – Strengthening policyholders’ protection - If cyber insurance were bigger, 2017 would hurt - Reinsurance industry “wake up call” - UK - Fitch sets negative 2018 outlook for non-life - UAE – Underpricing and overcrowded market - London: price improvements may not be enough - UK & Ireland Hurricane Ophelia losses at EUR 60mn - Egypt – Federation discusses reinsurance - UAE - ADGM, ADNIC partner on FinTech - UAE – AED 1.2 billion profits of 30 insurers - KSA – Jeddah floods surprisingly uncovered - Jordan – Communications and Time Management training - KSA - Life insurance exempted from VAT - Catastrophes should be covered by motor contracts - UAE – Difficulties in creating national reinsurers - UAE – Requests not to apply VAT before start of year - Cash payments at Saudi health facilities stopped - Individual Saudi spending on health insurance up by 8% - Kuwait – Adding treatments to insurance of retirees - Egypt – Insurers to join the Bourse - Saudi insurance firms to use e-payment - UAE – reinsurance absorbs AED 2.6 billion premiums - Egypt: Federation says medical malpractice needed - Jordan – Motor insurance training - Saudi insurance market faces consolidation - UAE – Hospitals reject covered treatment - Kuwait – Insurance premiums increase by 34% - Reinsurance rate increases of 20% expected - Saudi Arabia – 1.3 million contracts in Q2 2017 - UAE – Insurance profits up by AED 405 million - UAE – Local reinsurance helps retain premiums - Egypt – Finalization of insurance law - Egypt – 5 recommendations for investment contracts - Insurers to shift to cloud technology - ILS an influential factor for 2018 rates - No meaningful change for pricing - Jordan: The profits of 21 insurance companies down by 91.7% - Saudi Arabia: SAR 8.3 billion written premiums for the insurance sector in the third quarter - Spain fines British insurance company for $ 2 billion due to oil spill - Saudi Arabia: Saudi government's move to boost non-oil sector enhances the insurance growth - Egypt: Takaful insurance companies achieve 2.5 billion EGP as premiums over 8 months - Bahrain: Arig posts steady 9-month profits of over US$4 mln - The Gulf: Tawuniya the best Gulf insurance company in 2017 - Egypt: «Misr Emirates» targets 100 million EGP as premiums next year - India: Govt health insurance plan for the poor losing appeal - SAUDI ARABIA: SAMA: 9 insurance companies ceased operations - Europe: Recovery of European bonds and Allianz leading up the insurance companies - Jordan: A.M. Best Affirms Credit Ratings of Middle East Insurance Company Plc - Pakistan: Senate passes proposed marine insurance law - Algeria: Establishment of a company to pay by third parties in health insurance in 2018 - Dubai: Al Mansoori: the development of health insurance has become an urgent necessity - UAE: All insurance commissions will attract VAT - Germany: Hannover Re expects €800m profit in 2017 - Saudi Arabia: "SAMA”: 283 complaints per day against banks and insurance companies - Egypt: Companies are preparing to face flood risks by providing policies for coverage - Germany: Hannover Re cedes hurricane losses to retro, frees capital for renewal - Hiscox starts to reap rewards of a hard market - Kuwait: An Omani insurance company gets approval to open a branch in Kuwait - UAE: Sheikh khalifa Medical City in Ajman adopts insurance companies to cover healthcare costs - Egypt: The Insurance Federation reviews students’ insurance - UK regulation to split motor insurance liability - Saudi Arabia: Malath Cooperative Insurance & Reinsurance Co. in operation again - Australia: Cyclone Debbie industry insured losses near AU $1.6bn (US$1.2bn) - Sudan: International insurance companies looking forward to work in Sudan - Egypt – Raising insurance to 1.5% of GDP - UAE – Insurance Authority organizes sales points - Lebanon – Recommendations for insurance sector - $9 billion of retro blown or trapped - Jordan – Training on audit of traffic accidents - Egypt – Poultry sector calls for insurance - Capitals, the softeners of the reinsurance cycle - Buyers & sellers unlikely to meet renewal goals - Bahrain - 58 complaints of medical negligence - Oman - Compulsory health will boost market - CRESTA data to boost insurance penetration - Asian protectionism, a challenge to reinsurers - UAE – Price war to increase premiums - UAE – First insurance innovation laboratory - Singapore to be capital for Asian insurance - Asia is sprinting ahead on insurtech - UAE - E-Dirham used in health insurance - 1st Saudi Health Insurance Conference - Brake on marine rate reductions - U.S. P&C profitability deterioration - UAE – Insurance Law changes in 2018 - Insurers key to firms’ cyber risk management - EU - Data Protection law raises concerns - Firms’ intangible assets still unprotected - UAE – Premiums to growth by 10% in 2017 - UAE - Daman Digital Transformation with Microsoft - Jordan – Training about employee performance - Egypt – Social media for online marketing - UAE - Daman to cease printing of health cards - UAE – 1st insurer to adopt blockchain - No signs of alternative capital exodus - Protectionism creates risk concentrations - Global reinsurers target cat rate rises - Recent losses ‘first big test’ for alt capital - US rate increases to spread to Europe - Robotics & AI can transform business - Egypt – Motor claims at EGP 1 billion in 7m - No guarantees about reinsurance price increases - Demand for P&C reinsurance remains strong - Fitch: Lloyd’s capital pressured - Oman – Launch of agricultural insurance - Abu Dhabi – 11 fintech firms - UAE – Enforcement of motor insurance payments - UAE – Project to settle motor claims - UAE – Developing insurance training programs - UAE excludes health, life insurance from VAT - Bahrain Finance Institute helps Egyptian Market - Egypt – New Traffic Law - Ras Al Khaimah launches affordable health insurance - UAE – 20% insurance growth in 2017 - Bahrain – Health Insurance Scheme Forum - Losses unlikely to harden reinsurance market - M&A Insurers underperformed in 2016 - InsurTech remains attracted to P&C - Insurtech firms become MGAs - Firms don’t insure data assets - Saudi Arabia – Saudization of 65% of jobs - Saudi bourse up due to insurance - Sudan – Debate about insurance law - Resilience bonds can help public sector - Saudi Arabia – Health Insurance Caravan in Jeddah - Saudi Arabia – Potential insurance mergers - UAE – Licensing mechanism for “consultants” - Jordan – Incentives for insurance mergers - Reinsurance rate increases at 1/1 - 99% of Dubai residents have health insurance - UAE – Amendments to brokerage rules - Saudi Arabia – No new insurance law - Bahrain – Unified comprehensive motor contract - Bahrain – Compulsory health to reach 35% of premiums - UAE – Will fire insurance become compulsory? - 4 million Algerians waiting for claims - UK brokers to focus on insurtech in 2018 - ILS an integral part of the system - Bermudian market hurricanes loss: $25 billion - Lloyd’s signs artificial intelligence deal - UAE – 6892 insurance complaints in 8 months - Egypt – A database for insurance branches - Advocating the launch of a GCC reinsurer - Global cyber losses could reach $6 trillion - Saudi Arabia -Tougher rules for insurers - SAMA suspends 9 insurance brokers - UAE - No plan to raise required insurance capital - Oman moves to mandatory health insurance - Egypt – Financial supervisor to promote insurance - Egypt – EGP 2.3 billion Takaful premiums in 7m - Egypt – Insurance of museums - Saudi Arabia – Enforced cover for 12 health benefits - Saudi Arabia – SAR 159 billion premiums in 5 years - Saudization of insurance sales jobs - UAE – Emiratization system in year 2018 - Jordan – Journalists order reviews health insurance - Egypt – EGP 6 billion claims by end of July - Expectation of higher reinsurance rates is rising - Equilibrium between ILS and reinsurance - Lloyd’s Chairman calls for innovation - Saudi Arabia – 10 days to fix health insurance - Saudi Arabia – Saudization of insurance sales jobs - Saudi Arabia – Insurance prices declines by 37% - Egypt – Heavy rain insurance contract - India - raising $1.7 billion from state-run reinsurer - Insurer warns of dangerous Libyan waters - How insurers are minimizing cyber losses - Cyber insurance comparison engine - European insurance sector M&A to diminish - Lloyd’s uncertain on Maria losses - ILS market falls to -0.34% August loss - Driver Concerns over Autonomous Vehicles - UAE – Insurers should pay ambulance fees - UAE – A new start for the insurance sector - UAE – Insurance of addiction treatment - Reinsurers urged to investigate cedants - Reinsurers 2017 earnings to fall 80% - Reinsurers’ earnings based on “luck” - Jordan – Travel insurance contract - Jordan – Insurance Training on financial crimes - Egypt – Insurance represents 1% of GDP - Jordan – Law to regulate insurers - UAE – Insurers to adopt IFRS 17 - UAE – Committee to settle insurance disputes - Reinsurance rate rises for 2018, but not enough - Rated European reinsurers show resilience - Hurricane Maria a $30bn insurance loss - Saudi Arabia – Health facilities outside insurance - Cyber data can empower underwriters - Global cyber premiums to increase eightfold - Underwriters to be part actuary, part data scientist - Warren Buffett to invest in India’s reinsurance market - Egypt - Takaful claims at EGP 463 million in H1 - Maria turns 2017 cat losses into a capital event - Bermudian reinsurers: $73 billion to EU customers in 20 yrs - Fairness of EU-US reinsurance deal - Reinsurance rate rises likely? - Egypt – Interest rates more attractive than stocks - Egypt – Insurance tackles cyber attacks - Jordan – Training “Financials for non-finance people” - Egypt – Aviation premiums EGP 272.6 million H1 - UAE – Old vehicles are not insured - Oman – Restructuring of insurers - Algeria – Call to reinsure oil on an Arab level - A.M.Best - MENA Insurance Briefing - International insurers move toward UAE - UAE – 15 challenges for the health sector - Oman - Health insurance forum - U.S. and EU agreement on reinsurance - No insurance rating weakening for hurricane Irma - Convergence capacity continues to grow - Reinsurers at risk from the next hurricane - Egypt – Contracts adequately covering terrorism - Egypt – H1 Takaful premiums EGP 2.1 billion - Pricing won’t improve until alternative capital retreats - Reinsurance important for longevity transfer - Harvey & Irma could strain reinsurers - Insurance returns could be lower than anticipated - ILS important protection gap solution - London to remain a global insurance hub - Reinsurers should tap alternative capital - Oman – OR 361 million national investments - Kuwait – New categories in retirees’ health insurance - UAE – Bancassurance law finalized - Jordan – “Medical malpractice” to benefit insurers - Gulf – 4 requirements to nationalize reinsurance - Saudi Arabia – Insurance requirements outside commercial registry - Egypt – 200,000 insured members of pharmacies - 4500 new insurance jobs for Saudis - Lack of capacity and demand in terror market - For reinsurance buyers, size isn’t everything - Post-event opportunities for ILS - Egypt – Insurance to cope with natural risks - Kenya - Increasing insurance penetration to 6% by 2020 - Reinsurers continue to pullback on P&C lines - Munich Re warns of Q3 loss on Harvey & Irma - Egypt – Creating a database serving insurance - Hurricane Irma economic losses $58 – $83 billion - ReinsurTech to help reinsurers compete - Oman – Introducing agricultural insurance contract - Abu Dhabi - Dh14.7b in FDI in financial sector - Egypt – EGP 55 billion insurance investments - Cyber probably not insurable - Artificial Intelligence to close protection gap - Sharjah Police ease insurance services - Jordan – Electronic payment of tax - Egypt – Requirements of microinsurance - Reinsurance pricing may stabilize - Opportunity for reinsurance to shine - Situation in reinsurance markets unsustainable - Reinsurance blockchain prototype launched - Expect ILS sector to be larger post-event - Alternative reinsurance capital nears $90bn - Reinsurers offset sluggish market with M&As - Opportunities exist for reinsurers to adapt - Irma insured losses could reach USD 75 billion - UAE - Falling short on insuring family - 5% price reductions at Jan 2018 renewals - Reinsurer RoE’s drop again - Irma & Harvey, just an earnings event - Reinsurance rates to decline in 2018 - Challenges & uncertainty persist in reinsurance - Reinsurers near cost-of-capital - UAE – Regulator supervises investment distribution - UAE – E-system for insurance Emiratization - Egypt – EGP 17 billion premiums in 6 months - Bermudian reinsurers concern in wake of Harvey - NAIC’s model to improve cyber risk management - UAE – Exchange rate reinforces insurance profits - UAE – Fire insurance includes alternative housing - Egypt – Credit risk attracts insurance sector - Cat bond 12 month issuance hits $13.5bn - Saudi Arabia – Telematics to help price motor insurance - Long-term reinsurtech success - Harvey economic loss could be up to $75bn - ILS to narrow the flood protection gap - Oman – Insurance training efforts to raise omanization - Oman – Tackling health insurance pricing - Harvey to slash European reinsurers’ income by 1/3 - Harvey may stabilize pricing - “Harvey” a top 10 most costly hurricane in history - Cat bond market drops on Harvey - Ireland – Prison sentences for insurance fraud - Egypt – Insurance can protect the fans of clubs - Saudi Arabia – Insurance capitals down by SAR 2 billions - UAE – Strong growth of the insurance sector - Kuwait – Committee to settle insurance disputes - Egypt – No formal entity for brokers - Italy - Insured Losses of 2016’s Quake $127.4M - UK - insurers to raise premiums to offset inflation - Germany Pioneers Ethics of Driverless Cars - Market challenges weigh on Saudi healthcare firms - Sixth successive January renewal of price declines - Jordan – Dental Association to issue health card - Egypt – Insurance Federation to meet 7 ministries - Cyber insurance rates decline - Middle East – Travel insurance strengthens growth - UAE – 43% increase in insurance complaints - Bahrain – BD 272 million premiums in 2016 - Sixth successive January renewal of price declines - Oman – 5 insurers control 60% of premiums - Saudi Arabia – Raising allowed age of insurance trainees - $6.3bn cat bond loss for Andrew-like hurricane - Declining reserves denting the earnings of global P&C - UAE - Motor premiums to shoot up under VAT - UAE – Insurance difficulties in asset distribution - 25 Saudi Insurers Achieve Profit Growth in H1 2017 - Bahrain – BD 6.33 million profits of listed insurers - H1 2017 insured disaster losses $23bn - Saudi Arabia – Suspension of 7 insurance liberal job companies - Saudi Arabia – Compulsory motor insurance commission change - UAE – 34.2% growth in H1 profits of 28 insurers - Global commercial rates continue to decline - European reinsurers still don’t compete on price - Bermuda reinsurance strategy: primary rises - Can “little better than break-even” be sustained? - Jordan – War and political violence insurance training - Egypt – Help international insurers to return - Egypt – EGP 5 billion increase in insured properties - Tunisia – Money Laundering in capitalization and life insurance - Egypt – EGP 1.6 billion Takaful premiums in 5 months - Malaysia – No part of medical expenses for insurance bodies - Catastrophe exposure rising, soft market bites - S&P predicts continued profits in life reinsurance - Saudi Arabia – Training program for insurance professionals - UAE – No discrimination based on driving license - Jordan – Plans of insurers to raise solvency margins - Egypt – Prison sentences for fake funerals - Saudi Arabia – Travel insurance 0.3% of premiums - UAE – Premiums of 15 insurers jump by 21% - Jordan – Investment in insurance increases by 19% - Egypt launches state-run takaful firm - Hurricane Andrew today would cause $60 billion losses - UAE – Health insurance prices are appropriate - Egypt – Kotb withdraws his federation presidency candidacy - Opinions differ on the ILS secondary market - Global Insurance M&A in H1 Drops - UK - Demand for general insurance to slow - LatAm reinsurers challenged by shrinking profits - UK - pension risk transfer: £700 billion by 2032 - Saudi Arabia – 3 days for premium refund of canceled contracts - Saudi Arabia – Health Insurance Awareness Caravan - Jordan – Profits of 24 insurers down by 86.4% - Automation helping insurance margins - Egypt – Loss ratio decreases to 32% by end of May - Asian catastrophe losses highlight protection gap - Investment oriented reinsurer best when sponsored - ILS will continue to grow to new heights - Slowdown in GCC Takaful sector expected - Saudi Arabia – Mergers of 4 insurers under study - Jordan – Al Wazni: Insurers to adopt risk management - Morocco – Price war in motor insurance - Saudi Arabia – 90% of insureds got motor discounts - UAE – Repeated fires increase insurance prices - UAE – Insurance will cover weddings - UAE – No health insurance for psychiatric patients - Turkish storm & flood losses rise to $440m - Saudis control 14 financial activities - More positives than negatives in life reinsurance - Asia - M&A for foreign diversification - Kuwait – Final Draft of New Insurance Law - Egypt – 3 presidency candidates at Insurance Federation - Softening & expansion of terms in energy insurance - Reinsurers’ reserves strong, but releases “unsustainable” - Jordan – Fines decrease motor insurance losses - Big data to transform consumer proposition - Chaotic insurance middle for autonomous vehicles - Alternative capital as driver of reinsurance M&A - Turkey - storms & floods to cost US$200m - Jordan – Motor insurance claims up by 10% - Egypt – EGP 14.4 billion premiums until May - Egypt – 102 examinations of insurers in 6 months - Saudi Arabia – 15% discount for safe drivers - Kuwait – 400% increase in motor insurance rates - Egypt – Insurance agreement with Islamic Finance Association - Economy to drive Asia reinsurance demand - Saudi Arabia – Exclusions refrain physicians - Saudi Arabia - New centers for motor accident evaluation - UAE – Insurance cover at retail shops - UAE – Motor insurance pricing manipulated - Turkey – Insurers affected by 2nd Major Storm - UAE – Taxes and compulsory health raise inflation - Africa to be a leader in digital insurance - ILS reaches critical juncture in Q2 - Dubai – “Damani” to ease health procedures - Lower commissions hindering broker growth - Cat bond growth meant reinsurance demand flat - Collaboration between insurers & cyber modellers - UAE – Insurance neglects troubles with garages - Oman – English version of insurance regulations - Egypt – Overcoming fake motor insurance - InsurTech to disrupt distribution & impact rates - Saudi Arabia – Health insurance covers 12.3 million insureds - Insurance Europe supports sustainable finance goals - India – Reinsurers’ interest in crop scheme dampens- - Electric grid risks need risk transfer - Saudi Arabia – Motor insurers compelled to offer discounts - Collateralized reinsurance drives capital growth - InsurTech spending up 248% to near $1 billion - Oman - Takaful share in premium grows to 9.3% - Egypt – Prices of motor spare parts up by 70% - UAE – 6 cases exempt motor indemnifications - UAE – Chronic diseases are not insured - Oman – Insurance supports development - Insurers application of InsurTech growing - ILS growth strong but one-dimensional - ILS cyber opportunity needs modelling - UK & Germany to reduce protection gap - Saudi Arabia – Insurers expand cover exclusions - Reinsurance to improve resilience in poor countries - UK ILS rules published - Convective storms drive 78% of H1 2017 global cat loss - Kuwait – “Afiya” extended 6 months until April 2018 - Kuwait – Authority to solve insurance problems - Jordan – Health premiums at JOD 171.5 million in 2016 - Lloyd’s to allow capital to flow in more quickly - FAIR to hold 25th conference in Bahrain - Alternative capital hits $86bn - Cyber loss could equal nat cat - First-half natural catastrophes below average - Lebanon - El Habbal announces progress during oil seminar - UAE – 7 criteria to determine car repair cost - UAE – Maximum deductibles of motor contracts - Little hope of a near-term bottoming for reinsurance cycle - Saudi Arabia – Privatizing health according to vision 2030 - UAE – Applying maximum prices on driver categories - Oman – 3 insurers set to go public - Egypt – Insurance serves the economy - Saudi Arabia – Premiums at SAR 11.4 billion in 90 days - UAE – 7 challenges facing Takaful locally - Lebanon 62nd insurance market in the world - Alternative capital increases commercial insurance share - Jordan – Training program about health insurance - ILS terms & conditions converged with traditional business - P&C to deteriorate until 2020 - European cyber demand to grow - Saudi Arabia – Travel insurance as a condition for Schengen area - UAE – Most hospitals refuse “ID” for treatment - UAE – Replacement car without extra-premium - 17% of Iraqis are covered by insurance - Oman – Continued efforts to hold insurance trainings - UAE – Amendment to minimum capital regulation - Lebanon – Launch of the 2025 health strategy - Egypt – Raising interest rates slows insurance growth - Takaful market at USD 23 billion in 2016 - Dubai Health Authority: 70 monthly complaints from insured - Egypt – Violating insurers won’t issue electronic contracts - Reinsurers’ betting on benign loss year - Saudi Arabia – Insurers ready to implement Saudization - Saudi Arabia – Transforming government hospitals into companies - Dubai Health Authority to launch e-medical system - Dubai - 40 medical and insurance violations - UAE – Support to replace health card by “identity card” - Days of Cyber Insurers Avoiding Costly Claims May Be Numbered - 2017 cat bond issuance hits $10 billion - G20 to act on climate insurance & risk transfer - Egypt – Insurance overcomes fuel prices and value-added tax - Mauritania – Every insurer to deposit 300 million Ouguiyas - Lloyd's to introduce satellite imagery - Cyber market to absorb excess capacity - Saudi Arabia – Competition decreases motor insurance prices - Saudi Arabia – Education insurance prices linked to medical disclosure - UAE – AED 161 billion insurance investments during 4 years - Kuwait – Fires will increase reinsurance prices - UAE – Special diploma in bancassurance - Saudi Arabia – Conflict in the number of expatriates’ dependents - Egypt – Lower oil subsidies to impact insurance - Egypt – Strengthening of EGP will decrease prices - Saudi Arabia – Insurers rush to employ Saudis - Ahlia and Vision will offer shares in Muscat exchange - Egypt – Premiums at EGP 20 billion in 2016/2017 - Egypt – 164 insurance complaints in 5 months - Saudi Arabia – Closure penalty for non-saudization - UAE – Increased prices facing higher motor accidents - UAE – AED 2.1 billion insurance administrative expenses in 2016 - Kuwait – Price war among insurance companies - UAE – AED 1.58 billion insurance stocks’ gains in H1 - UAE – Boom in construction insurance by 20% - UK’s regulator warns on price discipline - Five non-life insurers to close in Phillipines - UAE – 3 Insurance Brokers suspended - Bank Al-Maghrib confirms the solvency of insurers - Insurtech impacting revenues of insurers - More frequent losses due to changing climate - Saudi Arabia – SAR 112 billion insurance claims in 8 years - UAE – Health and motor insurance grow by 20% - Britain to be centre for insurance-linked securities - Reputational risk from cyber kills businesses - Saudi Arabia – Regulatory reports every 3 months on training - UAE – Foreign ownership helps promote insurance - Reinsurers ask EU for mutual access with Britain - Insurtech adoption jumps - Al Sagr Cooperative Insurance Company announces the Chairman of Board of Directors - Aviva appoints new executive board member - Chaucer launches new company in Ireland to write international specialty business - Merger memorandum between Gulf Union Coop. Ins. Co. & Al Ahlia Coop. Ins. Co. - Standard & Poor's confirms Qatar Insurance's credit rating - Renewable energy risks an opportunity for parametric triggers: Swiss Re - UK government promises legislation to reduce motor premium - SCOR enters US medical reinsurance market - Middle East earthquake risk model released, with Lloyd’s backing - Al Ahlia will announce the launch of 25% of its shares for public subscription - Arch Re appoints François Dagneau as CEO of Canada branch - UK - Motor insurance £3.5bn hit from discount rate - Artificial Intelligence to impact the Insurance Industry - Ghana - If insurance sector fails, the economy will fail - Multinational Blockchain Insurance Test - Saudi Arabia – Saudization of motor claims management - UAE – 50.7% increase in insurance complaints - Kuwait – KD 10 monthly for expatriate health insurance - India - GIC to launch $1.44 billion IPO - Succession of large losses a major test for ILS - Reputational damage from cyber keeps insurers awake - Insuring non-damage business interruption from terrorism - Brokerage the most attractive insurance subsector - Ignoring emerging risks is not an option - Indonesia’s exposure growth outpacing insurance growth - Record cat bond year to hit catastrophe pricing - Regulation and analytics can help cyber ILS - Lebanon – Deal of Insurance Commission and Capital Markets Authority - Saudi Arabia – Insurance mergers to limit losses - Egypt – Life insurers pay EGP 5.4 billion as claims - Mid-year reinsurance renewals better than June 1st - UAE – Timeframe to start fixing cars - Kuwait Federation calls for independent regulator - Muscat Securities Market expects insurers to join - M&A and share buybacks on the rise in Europe - Kuwait – Premiums to increase by 30% in 2017 - Kuwait – Health insurance not licensed under life - Oman – Insurance products regulations - Egypt – Facing the exchange rate shock with premium increases - Bahrain – Insurance will benefit from traffic law - No sign reinsurance pricing will bounce back quickly - Reinsurers face losses from South Africa - 1st Reinsurance Product Heads to Blockchain - Reinsurer ROEs to diminish regardless of loss activity - Indian regulator sets up a reinsurance committee - Risk management under budget pressure - Taiwan to expand agricultural insurance - $1.5tr of US properties at risk of hurricanes - World Bank pandemic cat bonds launched - More pension funds invest in ILS - UK - Brokers risk being cut off the EU market - Half of premiums ceded in UAE - Egypt – Difficulties with motor reinsurers - India - Termination of actuary membership for wrongdoings - Insurers need proactive cyber development - Egypt – Takaful premiums at EGP 743.5 million in Q1 - InsurLab Germany to promote Insurtech - Compulsory insurance for travelers to Thailand - 99% chance of losing your job to a robot - Oman - premiums rise 3% to $350mln in Q1 - UAE- Insurance Authority wins two awards - UAE – 11 new companies in insurance field - Jordan – Suspension of housemaid insurance contract - Saudi Arabia – Motor premiums decrease by 3.2% in Q1 - Reinsurance Rates fall up to 10% at June 1st - Third-party capital committee at Lloyd’s - Marsh introduces aircraft financing product - Value Added Tax a challenge for GCC Insurers - Saudi Arabia – Health insurance covers 38% of population - Cat bond issuance reaches $8.15bn in 2017 - IFRS 17 may cost £2bn in the UK - Dubai – Establishment of ReTakaful company studied - Egypt – EGP 8.2 billion premiums in Q1 2017 - ILS issuance reaches new Q1 record high - Dubai unveils smart city accelerator - Morocco – Results of insurance mediation authority - Oman – Insurance assets at 856.4 million rials - Egypt – 99% of government assets uninsured - Reinsurance agreement between EU and US - Children of Saudi woman excluded from health insurance - Egypt – No insurance against cyber attacks - Egypt – Increasing interest rate positive for investment - Egypt – Raising compensation of compulsory motor? - Egypt – Insurance Awareness campaign at universities - Egypt fourth Arab brokerage market - Small cars are the most dangerous - Insurers face large fines under EU data law - Saudi Arabia – No plans to unify insurance prices - Challenges continue for the U.S. P&C market - Insurance challenges and opportunities of the future - Alternative capital competition to offset life hardening - Saudi Arabia – Complaints directly linked to “SAMA” - Europe - Insurers at risk under data protection laws - EU insurers' watchdog to issue Brexit guidance - UK - Half of citizens victims of a cyber attack - Gulf insurers drawn to bonds - Saudi Arabia – Target Saudization of 65% of insurance jobs - 424 companies in insurance sector in Dubai - Artificial Intelligence to automate insurance receivables - 700 career opportunities at Saudi insurers - UAE – Insurance to pay for ambulance services - UAE – Summit of Islamic Financial Services Board - UAE - Youth enterprise insurance council launched - UAE – Strategic Plan of the Insurance Authority - UAE – Motor insurance pricing review every 3 months - Egypt – January 2011 claims, achievement of Federation - Many African insurers lack stability - UAE – No insurance for buildings without prevention - UAE – 1845 motor claims during Ramadan 2016 - Sudan – USD 450 million insurance premiums in 2016 - Egypt – Minister encourages insurance mobile apps - UAE – Fire insurance prices decrease by 15% - Insurance business for autonomous vehicles - Cat bond returns up year-on-year to 31st March - US - Cyber cover limit doubles - Saudi health insurers insure 2.5 citizens - Qatar – Precautions of insurers against electronic challenges - IFRS 17 biggest shake up of insurance reporting - Reinsurance buying driven by expansion into new lines - Non-Saudi wife excluded from compulsory insurance - UAE – Profits of insurers keep improving - Bahrain – Insuring the liability of engineering companies - Egypt has least number of compulsory lines - Saudi Arabia – 137 governmental hospitals part of insurance - Saudi Arabia – Insurance abuse costs millions of Riyals - UAE – 37% participation of citizens in insurance training - Egypt – 20% growth of Takaful - Saudization of insurance sector exceeds 60% - Rate reductions shrink in aviation insurance - Reinsurance pricing won’t turn this year - Global Cyber Attack Disabled by Specialists - Qatar – Insurance profits decrease by 6% in Q1 - Kuwait – Traffic law changes harm insurance - Bahrain – Takaful sector faces limited Sukuk market - Bahrain – Reform to insurance capital requirements - Saudi Arabia – Insurance profits at SAR 406 million in Q1 - UAE – Skyscrapers’ fires raise insurance costs - 4.5 million covered by health insurance in Dubai - Insurance to Overtake Banking in Switzerland - Insurance not serving $11 trillion aging market - UK – Looming storm in insurance industry - “Cracks” beginning to appear in reinsurance market - Insurers face cyber aggregation - Saudi Arabia – Health Council attracts insurance stakeholders - UAE – Mergers to help Takaful overcome challenges - Egypt – Microinsurance protects the vulnerable - UK - mortality trends to drive reserve releases - Saudi Arabia – Insurers offer 40% discount on motor - UAE – AED 40 billion insurance investments - Qatar – Complaints about comprehensive motor prices - Reserve release potential drying up for reinsurers - Saudi Arabia – Motor insurance is costly - UAE – Motor insurance prices decrease by 12.5% - Oman – OR 42 million Takaful market in 2016 - Tunisia – New compulsory motor tariff - Reinsurance rates stay flat in India - Russian national reinsurer receives AAA rating - Cyclone Debbie to impact reinsurance pricing - Disconnect between cyber & property risk management - Fintech investment in Asia drops dramatically - Samsung to test self-driving cars - State Farm to shut 11 facilities – 4200 workers affected - ILS pricing lows to cap post-event reinsurance price rises - Saudi Arabia – Allowing insurers to invest in Sukuks - Saudi Arabia – Financial sector development program - Greater insurer digitization drives growth - Disruption to $100 billion insurance sector - UAE – Mergers solution to a saturated market - UAE – 35% Insurance profit growth expected in 2017 - Lebanon – Insurance digitalization conference - Egypt – 65 brokerage companies in Q1 - Saudi Arabia – Insurance growth a sustainability challenge - UAE – Maximum life and Takaful commission - UAE – 2019 conference of insurance supervisors - Insurtech funding drops 64% YOY in Q1 - Saudi Arabia – Large mergers among 34 insurers - Kuwait – Insurance premiums increase by 7.4% - Oman – New regulations for insurance intermediaries - Non-life insurers’ investment income to drop in 2017 - Saudi Arabia – Health insurance proposal for citizens - UAE – Preterm infants not covered by insurance - Lebanon – Insurance Control Commission issues penalties - Low interest rates raise insurance insolvency risk - Saudi Arabia – 30 experts to study insurance challenges - UAE – New life insurance regulations - Commercial brokers need to rethink strategy - Rates won’t drop in immature cyber market - Saudi Arabia – SAR 2 billion insurance profits in 2016 - UAE – AED 531 million gains of listed insurers - UAE – Challenges of reinsurers - UK - 2,000 risk management jobs threatened - Qatar – Insurance sector to boost traffic awareness - Qatar – Team to tackle the insurance sector challenges - 70% of overall Hurricane Matthew loss uninsured - Solvency 2 - Insurance marginalised by investors - Q1 insured catastrophe losses at $10 billion - Insurers’ tech spending USD 185 billion in 2017 - EU Insurers dependent on European reinsurance - Cyber insurance as standalone line - Saudi Arabia – 40% effect of fraud on insurance prices - UAE – Effect of motor insurance contract on profits - UAE – Prices will increase with value added tax - Egypt – Underwriting committee reprices health - Saudi Arabia – 32 thousand companies adopt health insurance - Qatar – Improving relationship between insurers and customers - Reinsurance rates to drop at June & July renewals - Underlying results of reinsurers bleaker than reported - Human Resources key to development of Saudi insurance - Egypt – Insurance digital strategy in next period - Algeria – Insurance premiums at 134 billion Dinars in 2016 - Global insurance industry tipped for growth - Saudi Arabia – News insurance policy for engineers - Egypt – Database started for 8 million vehicles - Oman – Training about insurance marketing - Rise of insurance robots is “coming quickly" - Saudi Arabia – 42 thousand unified health insurance contracts - Katrina type loss would deplete reinsurance earnings - USA - Reinsurance prices to stabilize homeowners rates - Japan sees single-digit rate reductions in April renewals - Bahrain - BIBF Launches an Insurance Simulation Course - Saudi Arabia – Insurance profits increase by 157% - Qatar – “Central Bank” regulates motor insurance - Kuwait – “Ministry” linked electronically to insurance sector - GCC – Compulsory health insurance stimulates investments - UAE – Number of brokerage companies reaches 156 - Kuwait – Housewives under retirees’ health insurance - Egypt – Solutions to limit motor insurance losses - Iraq – Insuring banking ATMs - Egypt – Expectations of insurance price increases - Insurers embrace Artificial Intelligence - Cat bond market hits record at $27.7bn - Saudi Arabia – 12 million under unified health insurance - 42% share of UAE in regional family Takaful - Reinsurers deriving benefits from alternative capital - Regulator launches 2017 UK insurance stress test - Saudi Arabia – Number of insured against medical practice up by 34% - UAE – 8.3% share of Takaful in insurance premiums - Egypt – Insurers limit health business - Profits plunge at world's biggest reinsurers in 2016 - European insurance M&A activity slows in 2016 - Fitch sees barriers to international insurance regulation - Saudi Arabia – Insurance on all vehicles will be enforced - UAE – Customers refuse high motor insurance prices - Saudi Arabia – Wrong accident assessment causes SAR 8 billion losses - Saudi Arabia – Health council enforces psychiatric treatment - Oman – Motor claims exceed OR 100 million in 2016 - Kuwait will set minimum capital of insurer at KD 15 millions - Saudi Arabia – 4 mistakes eliminate motor insurance discounts - Egypt – EGP 54 million insurance activity deficit - Energy insurance pricing faces difficulties - Alternative capital hits $81bn - Egypt – Health insurance Law threatens portfolios of insurers - Saudi Monetary Authority monitors insurance prices - UAE – Guarantee fund to protect policyholders - UAE – 50% growth in aviation insurance premiums - Saudi Arabia – One audit firm controls 57% of insurance - Ernst & Young: Insurance Opportunities in the Middle East - UAE – Customers request insurance price decreases - UAE – Complaint about maximum limit in real estate - Insurance Digitalization Seminar Beirut 3-4 May 2017 - Arab Insurance Premiums at USD 35 billion in 2016 - Preparing Saudi accountants to audit insurers - Algeria – All insurers to allow electronic payments - Saudi Arabia – Health Insurance Council monitors 15 violations - UAE – Insurance Authority to expand initiatives - Reinsurance rate decline slows further in April - ILS markets maintain aggressive posture - Saudi Arabia – Unified motor insurance database - UAE – Different increases on motor insurance prices - Oman – Insurance training programs “Tamkeen 2017” - Insurance has been slow to adapt to technology - Saudi Arabia – Insurance coverage of autism enforced - Saudi Arabia – The contracting sector addresses insurance - Comprehensive health insurance for Kuwaitis - Artificial Intelligence and Internet of Things in insurance - Saudi Arabia – Closure for insurers that stop motor discounts - Lloyd’s confirms Brussels as its new EU hub - It’s high time Asia adopts telematics - Bermuda reinsurance market returns hit five-year low - Saudi Arabia – Raising saudization in the insurance sector - UAE – AED 626 million insurance profits distributed - Qatar – QR 11.8 billion insurance premiums in 2016 - Europe – Operating insurance environment deteriorates in 2017 - Saudi Arabia – Insurance on all residents - Dubai - 4.3 million health insurance beneficiaries - Qatar – Liquidation of national health insurer “Seha” - Profits of Kuwaiti insurance sector up by 0.11% in Q4 - Saudi Arabia – Insurance discounts start for prudent cars - Kuwait – Immediate indemnity opens door to abuse - Oman – OR 362 million insurance investments in 2016 - Egypt – Health premiums up to EGP 1.1 billion in 2016 - UAE – Effects of valued added tax on insurance - Egypt – Changes to insurance accounting guide - Qatar – Identity card limits health insurance abuse - Saudi Arabia – Fixing insured government vehicles - Cost of volcanic eruptions for cities up to $30bn - Insurers struggle to attract technological talent - UK - Robots Could Steal 32% of financial Jobs - Kuwait – Afia helped the government save millions - Half of Global Insurance Growth Tied to China - Large US cedants shrink reinsurance panels - Germany - Big four cedants boost reinsurance growth - UK SME’s grow cyber protection but coverage still low - UAE - Licensing and Registering of Actuaries - UAE – Mergers to create competitive insurers - Bahrain Institute of Finance launches insurance programs - Reinsurance cycle set to change given pressures - Egypt – EGP 57 billion insurance investments in 2015-2016 - Insurance M&As fall to lowest total since 2013 - Bank of England to Focus on Insurance Consumer Protections - UAE – AED 17 billion health claims last year - Insurance premiums increases expected in GCC - Saudi Arabia – Application for health insurance complaints - UAE – Motor insurance complaints up by 61% - Workshop of Jordan Insurance Federation on stamp duties - Free health insurance proposed for Saudis - Oman – 6 insurers will become public shareholding firms - Technology could unlock $1.63 trillion in insurance value - European cedants slow down purchase of reinsurance - UAE – Insurers target small and medium enterprises - Strong insurance mergers & acquisitions in 2017 - Big data to transform insurance - NAIC questions EU-US reinsurance agreement - UAE – 4 insurance brokers about to merge - Oman – Insurance training programs - China - offshore deposit system for reinsurers - Italy - Fitch changes its outlook on life market to negative - UAE – Innovation is the future of insurance - Kuwait – 34 insurers operate in the market - Jordan – Indicators of motor insurance complaints - Saudi Arabia – Recovering insurance of sold vehicle - Global non-life market will surpass $2.7tr by 2020 - Demand up but reinsurance price declines to continue - Lebanon – Law to offer incentives for insurance mergers - Egypt – Government insurers lose 2.5% of their share - UAE - Cancer and Heart Disease as 85% of Critical Illnesses - Qatar Financial Center’s 5-year plan to shape private sector - Egypt – Insurance Federation studies capital adequacy - Mexico said planning cat bond market return in 2017 - Saudi Arabia – Lowest insurance growth in 10 years - UAE – Insurance imposes used motor spare parts - Kuwait – Insurance companies manipulate settlements - Egypt – Federation discusses 2017 reinsurance results - Saudi Arabia – SAR 23.7 billion insurance claims in 2016 - Health insurance in Dubai boosts pharmaceutical demand by 100% - Carthage meeting discusses nat cat insurance - UK - At least ten insurers move to Ireland - Qatar Central Bank fights money laundering in insurance - Insurers must adapt to driverless cars - New Partnership of “African Risk Capacity” - London market seeks EU insurance deal - Saudi Arabia – Implementation of last phase of health insurance - UAE – AED 48 billion insurance sector size in 2017 - Egypt – EGP 2.2 billion Takaful premiums in 2017 - Bermuda reinsurance market nears cost-of-capital - MENA Insurance markets resilient - Saudi Arabia – Better results lead to motor insurance price decreases - Egypt – Supporting small projects and boosting microinsurance - Insurers’ cyber risk vulnerabilities - Emirates ID now an insurance card - Qatar – Price competition in the insurance sector - Oman – OR 121 million health premiums in 2016 - Egypt – decennial liability pool: EGP 33 million fees collected - UAE – Awareness key to the promotion of insurance - Qatar – Discussion of health insurance system with hospitals - Egypt – Motor accounts for 95% of property complaints - Blockchain to change the world of insurance - Saudi Arabia – Wrong evaluation of motor accidents raises claims - Saudi Arabia – Insurance premiums increase to SAR 36 billion - Cat bonds an attractive asset for EU insurers - UK - Auto Insurers Face Disruption from Tech Companies - Saudi Arabia – Compulsory insurance for young-aged ignored - UAE – Rush to insure yachts - UAE Insurance Authority signs agreement with CII - Algeria – Conflict of motorcycle owners with insurers - UAE – No comments on changes to unified contract - Dubai – Health Insurance to work with all clinics - Egypt – The electronic issuance of insurance contracts praised - U.S. - highest catastrophe frequency since 1980 - “Moody’s” expects high risks for GCC insurance - Oman – 1.9% increase in insurance premiums in 2016 - Jordan – Profits of 23 insurers increased by 34.2% - Saudi Arabia – Economic downturn decreases number of insureds - Qatar – Health insurance to fix prices of services - Dubai – First Insurance Human Resources Forum - Egypt – Study recommends to control price competition - Profitable growth won’t be easier in 2017 - UAE – Motor Insurance Awareness Campaigns - Saudi Arabia – Motor and travel insurance regardless of age - Saudi Arabia – 100 governmental hospitals in insurance system - Egypt – Comprehensive motor and fire insurance first branches - UAE – 7 insurers distribute profits of AED 243 million - Tunisia – Insurance sector covers 4 million persons - Saudi Arabia – Renewed enforcement of Saudization in insurance - UK P&I Clubs Consider Opening EU Outposts - Lebanon – Projects of insurers in insurance sector - UAE – Insurance Authority suspends two brokers - Insurtech Expected to Keep Booming in 2017 - Cyber controls dubbed “not fit for purpose” - UAE – 7 million without chronic disease insurance - APEC needs disaster risk financing - Lebanon – Penalties for non-compliance with insurance law - China may relax limits on foreign life insurers - Saudi Arabia – Insurance to settle accident claims rapidly - Emirates Institute for Banking Studies discusses insurance needs - Bahrain – Expecting Health Insurance System for Citizens - Global insurance rates continue decline - UAE – Compulsory health insurance profits grow by 16% - Bahrain – Insurance sector will grow by 7% in 2017 - GCC – Providing benefits to retain insurance staff - ASEAN explores regional insurance pool - Kuwait – Commerce ministry to amend insurance law - UAE – Cards of old-aged effective at issuance - Saudi Arabia – Insurers’ solutions far from risk management - Egypt – Insurance helps customers in proportional rule - Saudi Arabia – Employees’ cars should be excluded - Insurers increasingly under pressure to go digital - Sovereign cat bonds can help governments - USA - Markets upbeat on M&A turmoil - Bahrain – Consultations to merge local insurers - Indian insurance premium volumes grow 32% - Excess capacity is driving down insurance rates - Solvency II driving reinsurance demand - Saudi Arabia – Health insurance pricing according to market - UAE – Price increases boost insurance earnings - Jordan – Insurance Federation holds reinsurance training - Oman – 20 insurers appoint customer service managers - Saudi Arabia – 12 million health insured - Saudi Arabia – Auditing the saudization of insurance jobs - Capital markets role in pandemic risk transfer - Third-party capital a success driver for reinsurers - UAE – AED 44 billion insurance premiums in 2016 - UAE – 6 months for old-aged before insurance cover - Qatar – Electronic link between insurance and traffic dept. - Jordan – 139 young persons in insurance program - 2016 natural catastrophe highest since 2012 - Saudi Arabia – Motor insurance prices to increase by 10% - UK proposes product to insure driverless cars - ILS investors show preference for catastrophe risks - Saudi Arabia – Complaints about transport insurance rates - UAE – Insurance Authority introduces motor contract - Slower third-party capital growth in reinsurance is healthy - Pension funds continue trend toward alternatives - Saudi Arabia – Insurers move toward mergers - UAE – Motor insurance not responsible about catastrophes - Saudi Arabia - Saudization directive for motor insurance industry - Egypt – Solving the crisis of 35 Insurers on securing USD - Saudi Arabia – Real opportunity for insurance brokers - Egypt – EGP 2.5 billion net profit of insurance in 2015/2016 - Paris launches campaign to lure insurers post-Brexit - ILS market could challenge record issuance in 2017 - Qatar – 9 facilities launch new health insurance system - Jordan – JOD 583 million insurance sector premiums - EU Should Support Reasonable Brexit Deal - Global reinsurers face challenges in India - UAE – Motor insurance sector not socially active - Egypt – Raising insurance capital is compulsory - South Africa – Operations of foreign reinsurers restructured - Algeria – Insurers scrutinized by supervisory authorities - Middle East - Low oil price to impact insurance growth - UK - Motor insurance premiums reach record level - Indian regulator calls reinsurers to report overseas transactions - ILS used by insurers increase reinsurance competition - Egypt – EGP 23 billion insurance premiums in 2016 - UK - Professions most prone to accidents - Ransomware Attacks Quadrupled in 2016 - Saudi Arabia – Decreasing motor insurance price according to risk - UAE – Guarantee when fixing vehicle outside agencies - Qatar – Health Insurance implementation date not set - Artificial intelligence a double-edged sword - Egypt – Regulator tackles problems with brokers - UAE – Motor insurance prices to be reviewed - Egypt – Insurers ask for regulator’s intervention on dollar - Interest rate rise won’t reduce allocation to ILS - EU capital rules treat insurers like traders - Dubai Authority: Insurers have to reimburse patients - London - Tests show capital risks to insurers - UK - Telematics-Based Car Policies Exceed 750,000 - Almost 1/4 of pensions consider ILS investment - Taking the pulse of GCC healthcare sector - Saudi Arabia – 110 governmental hospitals included at 12 insurers - Egypt – Regulations excluding companies from reinsurers’ list - UAE – Insurance Authority classifies repair garages - UAE – Insurance and services should suit both parties - Aviation insurance market shrinks in 2016 - French Insurers to boost Fintech - Europe faces storm of cyber threats - Saudi Arabia – Coverage for individuals declined - Egypt – Annual insurance premiums exceed EGP 17 billion - UAE – reinsurance renewals with strict conditions - Increased reinsurance demand = ILS market growth - UAE – Insurance Authority saves insurers from bankruptcy - USA - Health insurers shape Obamacare replacement - Insurance consortium eyes industry-wide blockchain - Bottom of the soft reinsurance market remains elusive - Kuwait – Unifying the insurance contract - Reinsurers to use up Q4 cat budgets - Slowdown of ILS inflow stabilised market at 1/1 - Hong Kong - rules for risk transfer to capital markets - UK - insurers see competition as bigger threat - Egypt – Study of recurrent health price increases - Cat bond issuance to gather pace - UAE – New motor policy has unprecedented advantages - UAE – Request for insurance to use dedicated workshops - Lebanon – USD 166.44 million insurance profits in 2015 - Egypt – 9 new insurance products launched - Egypt – 3 players plan to raise capital - UAE – 90% share of motor in insurance complaints - UK - AM Best warns insurers about Brexit - Lloyd’s confirms European base plans - Reinsurers face higher transatlantic competition - Saudi Arabia – SAR 2.5 billion insurance profits in 2016 - India approves listing of 5 state-owned insurers - Insurance CEOs less likely to hire - Interest in Malta as option for UK insurers - UAE – AED 11.3 billion life premiums in 2017 - Reinsurers in Europe and US benefit from regulatory agreement - ILS terrorism bonds a “logical next step” - Morocco – Technical reserve rules for reinsurers - Global insured catastrophe losses rise to $54 billion in 2016 - Iran - Global ship insurers to resume oil coverage - Egypt – Insurance capital increases to cope with inflation - Market environment pushes reinsurers to innovate - Kuwait – Renewal of the licenses of 35 insurers - Saudi Arabia – Linking motor insurance to accidents - Half of insurers expect to acquire new technology - Catastrophe bond market total return rises in 2016 - UAE – Comprehensive and Third Party at minimum price - Health Insurance for all Kuwaitis - Egypt – Financing policyholders’ guarantee fund - Tunisia - The new Insurance Code is being finalized - Saudi Arabia – Mergers will save insurers in next period - Lebanon – USD 162 million profits of insurers in 2016 - The horizontalization of ILS to intensify in 2017 - U.S. and EU Reach Agreement on Insurance Regulation - Saudi Arabia – Insurance market to decrease by 25% in 2017 - UK - Over 50 firms may move to Ireland - Reinsurance price deterioration could persist into 2018 - Lebanon – Mechanism between health ministry and hospitals - Saudi Arabia – Obesity surgery covered in health insurance - Saudi Arabia – Insurers follow new policies - Weather, disaster and climate as top global risks - UK – Royal & Sun Alliance fined over stolen data - Hurricane Matthew claims up 10% to $803m in Florida - Qatar – Calls to grant discounts for low risk drivers - Oman – Option to implement agriculture insurance - Tunisia – Premiums up by 8.2% until Sep 2016 - Canada’s insurable damage for 2016 - Kuwait – Increasing health fees, a weight on insurers - Egypt – 10 insurers discuss the prices of health services - Convergence capital now 18% of reinsurance capacity - Western markets losing 10% to Russian reinsurer - Algeria – 5 million files pending for insurance compensation - Saudi Arabia – Insuring maids before year-end 2017 - Egypt – Risk on creation of new reinsurer - Reductions moderate but softening continued in renewals - Reinsurer challenges put focus on underwriting - Alternative capital hits record $78bn - Cat bonds to expand into new peril-regions - Japan – Artificial intelligence replaces insurance employees - Fear of attacks is driving cyber insurance growth - Saudi Arabia – Third phase of unified health insurance - ILS price declines triggered reinsurance softening - Natural catastrophe losses in 2016 at four year high - UAE – Motor insurance prices rise by 130% - UAE – Market value of insurers strengthened - Egypt – Limiting abuse in construction liability insurance - Saudi Arabia – 80% insurance growth by year 2022 - UAE – Insurance benefits from two government decisions - Egypt – Health insurance price increases considered - Jan renewals set tone for demanding 2017 - Saudi Arabia – Motor insurance rates increase by 31% in 2016 - UAE – Minimum and Maximum prices motivate mergers - Alliance of Qatari companies will insure world cup - USD 1 billion to protect GCC banks - Ireland - Record number for refused car insurance - 2017 to more challenging than 2016 in reinsurance - China – regulation on insurance company ownership - Boom in cyber insurance predicted to gather pace - Dubai extends deadline for health insurance - UAE – Increased Market Premiums in 2017 - Saudi Arabia – Ministry to add all hospitals to insurance - Egypt – Takaful insurance growth at 20% - Saudi Arabia – Traffic accidents raised insurance prices - UAE - 35% of drivers to pay more for insurance in 2017 - Qatar – Electronic link between traffic dept. and insurers - Bahrain – There is no specialized Nat Cat contract - Saudi Arabia – Agreement between health ministry and insurer - Insurance on residents adds AED 400 million in a month - UAE – AED 40 billion insurance premiums in 2016 - Egypt – Black list for insurance fraudsters - Dutch insurer to buy smaller rival for 2.5 billion euros - UK - Brokers launch facility to assess insurers - Romania’s insurance market goes up by 12% - Reinsurance fundamentals could deteriorate - UK - Insurers handling hundreds of breach claims - India - insurers are morally bound to pay climate claims - No solution for troubled Indonesian insurer - Indonesia - Sharia products still unsuccessful - Saudi Arabia – Shura Council tackles motor insurance prices - Malls in Dubai help sell compulsory health - Brexit Threatens 10% of London’s Financial Jobs - Higher cat losses a warning say reinsurance execs - Mr. Hussein Mallouk DGM of Arab Re: “Improved regulations will also regulate competition” - Mr. Hussein Mallouk DGM of Arab Re: “Improved regulations will also regulate competition” - UAE – Travel insurance protects from financial emergencies - ILS growth triggers cycle management in reinsurance - UAE –Nuclear Authority & Insurance Authority sign agreement - UK – Review of discount rate for personal injury damages - Saudi Arabia – 4 insurers control 59% of market - Europe’s insurers paid out €2.7bn a day in 2015 - International reinsurers to operate in India within 6 months - UAE – New financial regulations strengthen insurance - Future of insurance electronic distribution in Arab market - Saudi Arabia – Electronic linking to extend insurance for visitors - Kuwait – Medical malpractice insurance for physicians - Egypt – Interest rate increases matter for life insurance - A.M. Best Affirms B+ Rating of Arab Re - Deutsche Bank: reinsurance pricing will deteriorate further - Reinsurance & ILS help close climate protection gap - Lebanon – Insurance Commission to promote brokers - Mr. Hussein Mallouk DGM of Arab Re: “We Expect to Maintain Historical Profitability” - 110,000 citizens enrolled in health insurance in Dubai - Kuwait – Health insurance for visitors - Bahrain – BD 300 million premiums expected in 2016 - Risk of unexpected correlations has never been higher - Mr. Hussein Mallouk DGM of Arab Re: “We Expect to Maintain Historical Profitability” - A.M. Best Affirms Ratings of Arab Re - Lebanon – Insurance Association issues 2015 figures - More insurers considering move to Ireland - Ratings agencies warn reinsurers - UAE – 98% increase in insurance clients’ complaints - Morocco among 3 important African insurance markets - Reinsurance rates to fall at 1/1 - Agreement with Europe critical for US reinsurers - Saudi Arabia – Unified motor claim procedure starting from 2017 - Reinsurance outlook still negative - Current year underwriting not profitable at Lloyd’s - Lebanon – Al-Ittihad Al-Watani bought by Nasco - Oman – Mobile phone use to renew motor insurance - Egypt – 80% of clients reevaluate their assets - Egypt – International best practices about value added tax - Aviation insurance market shows signs of hardening - Insurance solution for Moroccans facing the retirement crisis - Problems in the Mauritanian insurance market - Low interest rates could pressure Chinese life insurers - Reinsurance profitability pressure increases - Saudi Arabia – Insurance of government vehicles to boost premiums - Saudi Arabia – Unified policy will boost health premiums by 10% - Oman – 94% of insurance investments inside country - Oman – Issuance of insurance directory - Arab insurance companies need actuaries - Saudi Arabia – SAMA decision will speed claim payments - Non-compliance with health insurance penalized in Dubai - Aon eyes sale of £3.9 billion division - Saudi Arabia – Suspended motor insurers represent 45% of market - Jordan – Workshop on cyber crime insurance - Insurers should consider climate risk more - Cost-of-capital to be a struggle in reinsurance - UAE – Fire insurance to cover alternative accommodation - Italian motor premiums to rise after four-year decline - Japanese and Chinese insurers as players in M&A - London will not get special Brexit insurance deal - 27 training programs at the Kuwait Insurance Federation - Jordan Medical Association rejects compulsory malpractice insurance - Egypt – Misr holding handles reinsurer’s feasibility study - ILS a priority for UK Gov post-Brexit - Saudi Arabia – Claims increased by an average of 102% over 7 years - 85% of Dubai population covered by health insurance - Catastrophe insurance market to grow over next 4 years - UAE – Insurance authority enforces pricing review by March - UAE – Insuring imported cars against third parties only - UK - Negative outlook for UK life sector - Disasters affect sovereign ratings - Brexit an opportunity to ease Solvency II requirements - Saudi Arabia – Enforcing prompt insurance settlements within 5 days - Egypt – Insurance Federation warns about “coinsurance rule” - 25% of reinsurers will use capital markets more in 2017 - Market unprepared for cyber loss aggregation - Kenya - A windfall of 169 million USD in marine insurance - Reinsurers’ combined ratio nearing 100% in 2017 - African reinsurers are optimistic - Lloyd’s wants government to share data on cyber attacks - Arab Re promotes insurance knowledge electronically - UAE - Motor Insurance Conference reviews global developments - United States – Asbestos Loss estimate rises to $100 billion - Bahrain – Privatization of traffic accidents is being studied - Reinsurers remain optimistic in a challenging market - Saudi Arabia – 3 insurers prevented from issuing motor contracts - Egypt – Floods encourage creation of natural risks pool - Lloyd’s of London targets emerging markets - Demand for ILS to continue as true convergence edges closer - Bahrain – Role for insurers in national health insurance - Jordan – Profits of 24 insurers jump by 29% - Reinsurance financially sound despite Matthew - Ireland - Central Bank boosts staff for Brexit insurers - 1-in-100 year event estimated at $253 billion in insured losses - January reinsurance renewal pricing outlook uncertain - Correlations between perils not substantial for reinsurers - Saudi Arabia – Plan to enforce prompt settlement of claims - Saudi Arabia – 30 days to compensate insured “visitors” - Egypt – Insurance Federation studies model for microinsurance - China and India reshape reinsurance market - Bahrain – “Central Bank” to issue new regulatory standards - Saudi Arabia – Technology helps insurance to grow - Qatar – Insurance committee to implement new health system - Matthew helps reinsurance edge closer to bottom - Britain raises insurance premium tax to 12 pct - Saudi Arabia – 9607 employees in insurance sector by year end 2015 - UAE – Technical reserves will help control price competition - Egypt – Destiny of “national reinsurer” - Reinsurers continue disciplined response to market - Saudi Arabia – Insurance growth of 9% annually until 2020 - UAE – Consultations to cover aviation sector locally - Qatar – Comprehensive motor insurance needs reform - Performance really matters for reinsurance ratings - UAE – The local market will tend to compete on price - Lebanon – Insurance Commission requests media to be objective - UK insurers want EU rules to stay after Brexit - French Insurers' Profits Set to Fall Due to Competition - Egypt – Temporary impact of “Liberalizing EGP” on insurance - Microinsurance catastrophe business interruption cover - Fewer U.S. children lack access to healthcare - No new capital requirement for catastrophes at A.M. Best - Saudi Arabia – SAR 913 per capita insurance spending in 9 months - UAE – Imposing high fees on life insurance - Qatar – Traffic department criticizes insurers - Kuwait – 85 thousand health insurance cards to retirees - ILS & Insurtech bring role of broker into question - Catastrophes cost $520bn annually - Saudi Arabia – Government fund to insure primary health services - Egypt – Fire committee examines impact of EGP devaluation - ReTakaful players: Sharia-compliance not enough - Growth of mutual continues to outstrip wider industry - Capital markets in reinsurance for the long term - Egypt – New speculation on mobile phone applications - Pensions & sovereigns will increase ILS investments - Singapore regulator to stimulate fintech growth - UAE – An insurance pool covering nuclear energy - Saudi Arabia – Irregular practices in motor insurance - Saudi Arabia – Motor insurance prices to decrease to SAR 950 - Lebanon – Insurance premiums at USD 830 million in H1 2016 - German insurers seek strategy to navigate changing period - Capacity refill would take time after major loss event - Hurricane Matthew losses 50% covered by insurance - Egypt – Microinsurance supports the national economy - Reinsurance capacity to remain high at 1/1 - Hedge fund reinsurance model shows more promise - UAE – AED 4.8 billion motor insurance premiums in 2016 - Egypt – 3 insurers start issuing electronic policies - Egypt – Insurers not allowed to reinsure locally - Further rate stabilisation in reinsurance expected - Oman – Health insurance system could be implemented - Jordan – Compulsory insurance losses at JOD 10 million in H1 - UK - Rate increases in non-life don’t help profitability - Algeria – New insurance product to fight cyber attacks - UAE – Old insurance contracts inforce until expiry - Egypt – Railway and metro insurance pool supports citizens - India - Reinsurer Lloyd's gets license to operate - Industry’s future lies between traditional reinsurance & ILS - Saudi Arabia – Insurance should extend beyond coverage - UAE – Efforts to improve motor insurance sector - Bahrain – Insurance sector achieves steady results in 2015 - Qatar – Material compensation for damaged car - Saudi Arabia – Refusal to speed up health insurance for citizens - Insurance fraud cases caused by an artist - Reinsurance backs World Bank Pacific facility - Arab insurance industry faces great challenges - Saudi Arabia – Insurance declines public and private vehicles - Egypt – Insurance premiums will increase by 30% with EGP liberalization - Wave of innovation will test the insurance industry - Innovative ILS can address “critical protection gap” - “Dubai Health Authority” accepts insurance of 35 companies - Egypt – Regulator issues microinsurance regulations - Algeria – The motor insurance market loses 100,000 vehicles - Egypt – Motor and property flood losses not covered - Italy - October earthquakes unlikely to impact insurers - Jordan – Profits of 21 insurers increase by 42% - US - P&C rates on downward trend in Q3 - Reinsurers hope for an unidentified event to harden rates - Saudi Arabia – Motor insurance prices linked to spare parts - Egypt – 25% inflation-related premium increase expected - Usage-based technology to help motor insurers - UAE – Difficulties in securing fire reinsurance - Saudi Arabia – Insurance needs to innovate new products - UAE – 10% growth of cyber insurance - USA - Wildfire threat a $500 billion risk - Jordan – Protecting 66 individuals threatened by floods - Dubai Health Authority expands insurance services - Bahrain – Implementation of health insurance in 2017 - A.M. Best: Ratings necessary for ILS to expand - Insurance workers among the unhappiest in Asia - 80% of P&C firms worldwide will invest in insurtech - Megacity aggregation challenge will test insurers’ robustness - Japan life insurers expand their foreign investment - Tunisia – Necessity of a special legislation for life insurance - Piracy in Asia down 65% - Correlation of flood events poses risks - Efficient reinsurance & ILS benefits U.S. homeowners market - Reinsurers see growth in Central and Eastern Europe - Reinsurers can benefit from transformative motor technology - Additional reinsurance demand seen for January renewal - Excess reinsurance capital can benefit society - Protectionist practices restrict reinsurance market - Oman – 31% growth in health insurance - Bahrain – 123 complaints against insurers - European buyers seek deeper dialogue with tier 1 reinsurers - IAIS capital standards may be more onerous - Climate change might make protection unaffordable - Cautious Western insurers rebuild business ties with Iran - Saudi Arabia – Insurance price changes will not exceed 10% - UK - home insurance market edges into unprofitability - Reinsurers should focus on innovation and cycle management - Reinsurers still in the eye of the storm - France raises insurance levy to bolster terror fund - Regulatory advances fail without a Europe-US agreement - GCC – Oil price at USD 40-50 revives insurance market - UAE – Insurance a main factor for economic diversification - London market could lose £7.3bn in premiums to Brexit - Insurtech to boost importance of reinsurance - Saudi Arabia – Wrong estimations for 44% of accidents - UAE – 79.4% share of foreign companies in life insurance - Qatar – Insurers encourage the sale of “scrap” vehicles - Bahrain – Insurance demand after exemption from health fees - UAE – AED 3.4 billion as Takaful premiums in 2015 - Reinsurer combined ratios, RoEs to deteriorate further in 2017 - Saudi Arabia – A legal authority should examine accident insurance fraud - Egypt – Launching anti-money laundering departments in insurance - Insurance Europe signs tackles social effects of digitalization - Global share of mutual insurers remains robust - Price trajectory converging between reinsurance & insurance - Solvency II regime boosts insurance in Mexico - ReTakaful to meet solvency challenges of Takaful companies - Asia-Pacific prospects remain a lure for reinsurers - Reinsurers plunge into India seeking growth - Asia - Over-regulation poses challenges for the region - 50% of $5bn Matthew loss to fall to reinsurance - UAE – AED 11.3 billion health insurance cost in 2015 - Egypt – 9th General Conference of Takaful companies issues 4 recommendations - 3 mechanism to help the ReTakaful industry - $38bn China flood impact insurance just by $596m - Saudi Arabia – 24 initiatives to develop the health insurance market - Qatar – Electronic system linking insurers and traffic department - Egypt – The insurance sector seeks Arab currencies for reinsurance - Saudi Arabia – Implementation of the 2nd phase of unified policy - Egypt leads International Federation of Takaful Companies - Africa - Reinsurance solution to regulatory changes - Creativity and innovation will drive ILS - Matthew losses to fall within catastrophe budgets - Jordan – Calls to remove the compulsory insurance tariff - Reinsurers’ 2017 combined ratios to nudge 100% - Conditions favorable for reinsurance mergers & acquisitions - UAE – AED 37 billion insurance premiums in 2015 - Egypt – Electronic system to tackle fake insurance policies - UAE – New laws to increase the attractiveness of the insurance sector - Abdallah Badaoui quits Oman Re - UAE – Mergers a necessity in the insurance market - Bahrain – Licensing of foreign life insurer considered - Saudi Arabia – SAMA commissions consultant to assess motor insurance - 25% of reinsurers could face a loss triggered by Mathew - Saudi Arabia – Requests to decrease the price of individual health Insurance - Kuwait – Insurance Federation organizes 27 training sessions - USA - $1.5bn underwriting loss for P&C in 1H16 - UK - Car insurance costs rise £100 in a year - Fewer British firms have cyber insurance - Morocco – Catastrophe cover in all non-life covers - Risk managers taking on strategic role - Lloyd’s chief speaks on Brexit again - Saudi Arabia – SAMA will set motor insurance prices - Abu Dhabi – AED 10 thousand health insurance hinders residency - MENA Reinsurance rates are expected to harden - Egypt – Foreign insurers seem to limit activities - Saudi Arabia – Contribution of insurance to GDP at 1.5% - UAE – Signs of recovery of insurance companies - Qatar – Launching the 49th International Engineering Insurance Association Conference - French insurer AXA's CEO has no plans for big mergers - Casablanca Finance City second hub in MENA - Oman - Excellent performance of Takaful - UAE – The Authority requests insurers to submit motor prices - Bahrain – “Takaud” presents opportunities for insurers - Motor insurance market to shrink 70% by 2030 - Hannover Re, Swiss Re, SCOR at risk in prolonged soft market - ILS can increase efficiencies & reduce costs for reinsurers - French regulators agree to simplify licensing procedures - UAE – Half of population without life insurance - Jordan – JOD 154.4 million health insurance premiums last year - Demand grows alongside global reinsurance capital - Risk free rate hike triggers decline of reinsurer RoEs - GCC - Enhanced regulations fuel concerns of weaknesses - Saudi Arabia – Complaints against insurers increase by 50% - Kuwait – Health Ministry distributes health cards to retirees - Egypt – Financial Authority issues insurance website regulations - Bahrain – 9% growth expected in insurance in 2016 - No sign alternative capital will shrink - Oman – Regulator adopted insurance service quality manual - Jordan – Insurance under central bank regulation by mid 2017 - Egypt – Moody’s expects profits of insurers to grow - UAE – Increase in demand for life insurance products - Saudi Arabia – Compulsory insurance on workers and families of private schools - UAE – Raising limit of single accident to AED 2 million - Saudi Arabia – Insurers tackle obesity and smoking - UAE – Warning to insurers that fait to deliver cards - UAE – Replacement car for 10 days after an accident - Egypt – 20% growth of Engineering premiums in 4 years - Saudi Arabia – 60 days to submit a health insurance claim - UAE – Promising future for Takaful with compulsory health - First downturn when reinsurers still make cost-of-capital - The price game is over - London insurers should protect confidentiality - UK - Over 2,700 brokers face significant risk - Inevitable change to drastically impact insurance industry - Gibraltar’s future uncertain after Brexit - UAE – Insurance Authority to classify motor garages - Qatar – Launching the new health insurance system - US requirements put EU insurers at disadvantage - Bank of England fires warning at insurers - Egypt – Effect of added value tax on insurance tackled - Sluggish economic growth prompts marine premiums to plummet - Despite falling returns equity investors unlikely to exit reinsurance - Unwillingness to pay one of the big myths of the ILS - Close the insurance gap to stop fighting over a shrinking pie - Demand for custom reinsurance grows - Lloyd's eyeing reinsurance licence in Malaysia - ILS & cat bond returns still deliver - Qatar – Strong competition leads to a decrease in motor insurance prices - Kenya - Reinsurance firm opens Academy to boost penetration - Pressure on MENA Reinsurance Market Persists - Kuwait – Finalization of 75% of the insurance law - Reinsurers should walk away from business that won’t deliver - Alternative capital may shorten the reinsurance cycle - India - foreign reinsurers to set up shop from January - Bahrain the leading financial center in the Middle East - Lloyd’s attracts Entrants Despite Brexit - UK Solvency II inquiry for reinsurers - January reinsurance renewal rates expected “below stable” - Algeria – Investigation with 5 insurers on currency transfer - UAE – Low insurance demand for small and medium-sized enterprises - UK - Fraudulent insurance claims increase - Lloyd’s Chairman to Reinsurers: Target Brokers’ Fees - Reinsurers only profitable due to low catastrophe - Interview with Deputy General Manager Mr. Hussein Mallouk on the future prospects of Arab Re - Interview with Deputy General Manager Mr. Hussein Mallouk on the future prospects of Arab Re - Munich Re sees reinsurance prices falling at slower pace - UAE – Insurance market grows by 5% despite competition - ILS demand & reinsurance rate stabilisation expected - Weak Profits Leading to Takeovers of Smaller Reinsurers - UAE – Launching new policies for low risk industries - Egypt – 187% losses as a result of increasing fires - Reinsurance capital at record $585bn - Excess capital threatens Bermuda reinsurer performance - Arab Re's Family Wishes You a happy "Eid Al Adha" - شركة إعادة التأمين العربية تتمنى لكم عيد أضحى مباركاً - Italy quake insured losses not expected to exceed EUR200m - Saudi insurance growth slows for 1st time in 5 years - German Solvency II ratios promising, with no change to ratings - South Korean pension fund looks to catastrophe bonds - Saudi Arabia – New system for treatment authorization in insurance - Oman – 66% Omanization in insurance sector - Moody's: Outlook for reinsurance sector remains negative - EU’s large cedants take advantage of market conditions - Saudi Arabia – Requests to decrease insurance prices by 50% - Good results but underlying challenges for London insurers - Munich Re Achieves Strategic Big Data Platform - Ratings agencies see lower reinsurance prices in 2017 - French life insurers’ profitability continues to decline - Negative Reinsurance Sector Outlook Not Changing - Only the costliest catastrophe could turn reinsurance pricing - Longevity growth could help reinsurer ROE’s - Saudi Arabia – Companies might merge or exit insurance market - Egypt – How does Authority for “Roads and bridges” settle claims? - Kenya - CIC stake in Takaful Insurance falls - Chairman of Lloyd's of London threatens to leave the City - Kuwait – Insurer requests the health ministry to settle USD 200 million - What would the Great Fire of London cost today? - China Re’s ratings unaffected by steep decline in profits - Cat bonds could help Gulf of Mexico energy sector - UAE – Chasing mobile phone insurance premiums - Reinsurance is on the edge of profitability - ILS a promising alternative for Asian investors - Brexit could result in London losing reinsurance business - Market Capitalization of insurers in Dubai at AED 5 billion - Bermuda Reinsurer Profits Affected by Excess Capital - Cat bond investors good at paying claims - EU policymakers clash over valuing insurers' liabilities - Egypt – 28% growth in insurance premiums in H1 - European insurers invested €9,8 trillion in economy in 2015 - Expanding the reach of cat bonds to the most vulnerable - UAE – Insurance Authority receives 3554 complaints - Saudi Arabia – Insurance market well-regulated and leader in GCC - Lebanon – Cost of insurance policies increases - Jordan – Should take advantage of insurance merger incentives - “Africa Re” targets premiums of USD 722 million by end of current year - Saudi Arabia – Instructions of MoH will increase prices by 25% - UAE – Mergers are the solution for distressed insurers - Egypt – Inflation affects negatively the insurance sector - Egypt – Regulations to issue policies electronically - Up to EUR200m earthquake loss for Italian insurers - Saudi Arabia – No free treatment for traffic accident victims - UAE – Life Insurance as a condition for personal loans - Reinsurers seek returns where ILS isn’t playing - GCC – Large transformations in health care - Saudi Arabia – SAMA considers halving insurance prices - UAE – Necessity of not exploiting the pain of patients - Fitch: Global reinsurer profit decline could affect rating - UAE – Half year profits of insurers increase - Aviva partners with digital start-up accelerator - Fungibility of capital permanently changes reinsurance cycle - Opportunistic capital may dampen post-event hardening - Qatar – QR 11.2 billion insurance premiums locally - UK - Interest rates hit Solvency II ratios across life sector - Reinsurers must increase asset risks to boost returns - Soft reinsurance prices a danger when typical cat levels return - Saudi Arabia – 50% of vehicles are uninsured - UAE – 10% growth expected in insurance sector - UAE – Insurance sector gradually overcomes underpricing - Egypt – Insurance employee imprisoned for fraud - Asian Regulatory Reforms to benefit Reinsurance - Saudi Arabia – Insurers collectively exploit price increases - UAE – Insurance prices differ according to profitability - Egypt – Insurance Federation seeks USD availability - Egypt – New Insurance Law proposal to be submitted to the public - Kuwait – Annual cost of insurance for retirees is KD 82 million - Algeria – Motor insurance price increases for kamikaze drivers - Enterprise risk management key for reinsurers - Challenges prompt London Market rethink - Florida insurers increase catastrophe reinsurance cover - Catastrophes drive higher insured and economic losses in H1 - Global and European insurance rates fall again - Political risk insurance market to exceed $10bn by 2018 - France - Low interest rates to hit profitability of life insurers - Kuwait – Insurance of retirees covers 90% only - Reinsurers utilising ILS & retro to improve profit - Q2 cat losses above expectations of reinsurers - UAE – Motor insurance necessitates underwriting discipline - Egypt – Demand for marine insurance down by 20% - UK - Impact on ratings post-Insurance Act will remain neutral - Reinsurance faces the strongest headwinds - Insurance profits at AED 240 million in Dubai in H1 - Reinsurers to keep writing even below cost-of-capital - Cat bond demand strong in July and prices rise - Public-private partnership to boost innovation & demand - UAE – Registering insurance under the name of fathers to decrease price - UAE – 3 million policyholders at “Daman” with 10% increase - Qatar – Insurance companies are absent in social media - Jordan – Health Ministry confirms importance of digital technology - Saudi Arabia – SAR 670 insurance spending per capita - Chile’s Health Insurers Pushed to Brink of Collapse - Registered Investment Advisers interested in ILS - U.S. judge sets date for Anthem merger trial - UAE – Patients to uncover health insurance abuse - ILS market top opportunities & concerns revealed - On spending your way out of a soft reinsurance market - UK - Insurance Act 2015 will impact every policy - Saudi Arabia – Insurance companies’ profits jump by 214% - Qatar – Profits of insurers at QAR 759.1 million - Oman – Two insurance training program by capital market authority - German life insurers more exposed due to asset-liability mismatch - UAE – Health insurance today’s emerging issue - UK - ethnic minority penalty for car insurance - Reinsurance margin attrition ongoing - New Spyware Targeting Companies Across the Globe - Middle East - Health insurance premium increases by 9% - Saudi Arabia – Expected increase in insurance prices next year - Algeria – Settling motor traffic claims within 45 days - Cat bond & ILS conditions favourable for H2 - Saudi Arabia – Insurance profits increase to SAR 839.7 million in H1 - UAE – Property insurance policies grow by 20% - Bahrain – Implementing a unified comprehensive motor policy - 2% of China’s Floods Insured vs. 70% in U.S - Egypt – EGP 500 thousand maximum microinsurance cover - Supply far exceeding demand still in P&C reinsurance - P&C reserves not reliable source of earnings - UAE – Health insurance premiums exceed AED 15 billion in 2016 - Egypt – Electronic linking will limit losses - UAE – Insurance authorization challenges access to medicine - Egypt – Increasing retention to meet international standards - European insurers facing an adverse environment - Reinsurance price surge after mega-loss to be smaller - Oman – Training program for insurance employees - Jordan – The profits of 23 insurers jump by 46.3% in H1 - ILS growth no longer exponential - Solvency II equivalence will be critical to UK - Saudi Arabia – Lower interest rates causes insurance losses - UAE – Motor insurance prices increased by 40% - USA - Opioid-related claims rose by 3,000 percent - Sports-Related Brain Injuries Are Emerging Risk - Saudi Arabia – Medical records govern insurance prices of domestic workers - UAE – Insurers impose deductibles on spare parts - UAE – Reading the insurance contract raises customer awareness - Egypt – Insurance companies face USD crisis - Saudi Arabia – Increasing insurance coverage of exports - Excess reinsurance capital not the issue, it’s lack of demand - UK - Telematics Provide Evidence in Trial - Interest for ILS strong, but opportunities to deploy limited - Aon ILS Indices rise in Q2 - U.S. and EU Report Insurance Talks - UAE – Insurance of vehicle tires introduced - Kuwait – Health insurance for 107 thousand retirees - UK - Slow growth and Brexit threaten insurers - UAE – Insurance Authority approves 5 actuarial organizations - Bahrain – Medical malpractice insurance is a necessity - Reinsurance increasingly the cheapest form of capital - 50% of ILS capital could be wiped out by 1-in-200 hurricane - Our policy is prudent and conservative - "Interview with Deputy General Manager Mr. Hussein Mallouk" - Our policy is prudent and conservative - "Interview with Deputy General Manager Mr. Hussein Mallouk" - Reinsurance losses may be sufficient to install pricing floor - Saudi Arabia – Need for a national comprehensive health program - UAE – New changes to “Daman” improve services - Egypt – Dollar inflates health insurance prices - Qatar – News standards for motor insurance - Satellite data supports risk transfer solutions - UK - Potential mis-selling among insurance agents - UAE – Lack of training leads to wrong expertise in insurance - Q2 European reinsurance profits down - ILS economic impact on Bermuda revealed - UAE – Takaful companies grew by 57% in 8 years - Munich Re develops Solvency II reinsurance solutions - Nat cat losses in H1: $30bn insured, $98bn economic - Many Lloyd’s contracts inadequate on cyber wording - Paybacks can be long in reinsurance - Kuwait – Insurers can offer retirement pension - Rational and irrational trends in reinsurance - UAE – Increasing minimum price for motor policies - Jordan ranks 68th internationally on insurance premiums - Egypt – Reinsurance commissions decreased - Vietnam - government puts a leash on foreign reinsurance - Mutuals should adapt or become irrelevant - Negative Interest Rates Described as ‘Dirt’ for Insurers - London plans foreign aid cat bond - Cyber premiums as fire insurance of 21st century - UAE – Insurers increasingly interested in energy insurance - Private Iraqi insurers ask to cease government control - Egypt – Political Violence policy covers “Etisalat Misr” for EGP 6 billion - Solvency II equivalence drives growth in Bermuda - $27bn of global insured cat losses in H1 - Retro market prices continue to soften - $15 billion of U.S. & Canada insured losses in first-half of 2016 - Saudi Arabia – Suspension of companies does not interrupt coverage - UAE – Policies to protect wedding loans - UK - consultations on insurance for autonomous cars - Saudi Arabia – 12 duties on employer in health insurance - Bahrain – Absence of personal planning for the future - UAE – Health insurance related penalties set - 2016 will be a record year for sovereign rating downgrades - UAE – 80% insurance price increase on towers - Dubai uncovers fraud cases in health insurance - UAE – More growth expected in health insurance - UAE – Mergers best solution to save insurers - Hedge fund reinsurers show weakness - Africa – Microinsruance growth calls for reinsurance capacity - UAE - insurer offers taxi fare refund to customers - India - Life reinsurance pie to get bigger - Qatar – 6 rules for insurers’ management membership - UAE – Insurance on Employees’ Monthly Salary, soon - Iraq - The Economic Situation Does not Afford Entry of New Insurance Companies - Lloyd’s platform: launch of an aviation insurance consortium - "FAIR" Holds the First Forum of Afro-Asian Reinsurance - Lebanon – Most solvent insurance sector worldwide - Reinsurance softening slows, capacity withdraws - Non-life growth highlights ILS influence - Sudan – Issuance of a new law on insurance regulation - India - First private sector reinsurance license - New controls on health insurance programs in Abu Dhabi - Minor Earthquake Jolts Several Parts of Lebanon - UAE – AED 4055 Insurance Spending Per Capita in 2015 - Africa - Insurance penetration remains poor in despite economic boom - Russia to introduce compulsory reinsurance - London market can prevail despite Brexit - Robo-adviser on third-party capital - UAE – Insurance Authority launches electronic system for brokers - Gulf countries – USD 150 million for Travel Insurance by 2019 - Law regarding Russian National Reinsurance Company adopted - Reinsurance more important than ever - Divergent mortalities complicate longevity market - Global Takaful Premiums: USD23.2 billion in 2015 - Saudi Arabia – Legality of linking motor insurance to cost of accident studied - Egypt – Automating compulsory insurance policies - UK - Financial volatility could hit insurers’ half-year results - USA - Convective storm insured losses hit $11bn - Bermuda stresses Solvency II equivalence will serve it - Jordan: Reducing traffic accidents is beneficial for insurers - The future of cyber risk market looks promising - Kenya: Fake motor insurance claims cost up by 189% - UAE: Obesity a key factor in UAE insurance claims, says Zurich - Zambia: Significance of Insurance Education - Reinsurers can prosper even while pricing is lousy - Turkey: Experts warn of potential 7.0 magnitude earthquake near Istanbul - UK: ‘Brexit’ Would Damage UK’s Leadership Position in Insurance: Aon - Increase in Pandemics over the next 5-10 Years - European regulator: Reinsurance pressure to “increase further” - Moody's: Floods in France, Germany in May/June are credit-negative - Pressures from ILS & reinsurance mounting in primary lines: A.M. Best - Negative interest rates, a poison for financial institutions - Egypt – Suggesting fees on cigarettes to finance health insurance - UAE: The IA issued a nationalization guidebook for the insurance sector - Insurers must transform amidst disruption, KPMG says - UAE – 3 reasons discourage consolidation of insurers - Qatar – Establishing local credit agency strengthens financial sector - Insurers Ignore FinTech Revolution - Saudi Arabia – Investigations about 400% motor insurance price increases - Doing the right things not enough for reinsurers - Further changes for unrecognizable reinsurance market - UAE – AED 37 billion insurance premiums in 2015 - Global Reinsurers To Withstand Challenging Dynamics - Reinsurance a benefit to policyholders, not just insurers - UAE – Profit targets for physician are unethical - $200bn event needed to hit reinsurance & ILS - Kuwait – System of points for third party insurance serves the sector - Egypt – The virus of cancellations affected life companies - Transformation efforts of insurers less than ideal - Global Parametrics to bring third-party capital - UAE – Employee has no options in health insurance - Qatar – Applications to establish new insurance companies - Oman – OR 130 million insurance premiums in Q1 - Saudi Arabia – 3 companies represent 80% of health insurance premiums - UAE – Towers fires trigger insurance price increases - Soft market remains biggest concern for reinsurance - Low cost and abundant reinsurance to the advantage of insurers - UAE – Trend to insure small and medium-sized companies - Need to cede outside traditional renewal cycle - Catastrophe bonds a vital part of insurers “financial tapestry” - Cyber and reputation most difficult to insure - French flood insurance loss up to $1.6 billion - UAE – Seminar on medical malpractice liability - Russia - national reinsurer may start by mid-2017 - Ethiopia Reinsurance will start operating in July 2016 - Saudi Arabia – Insurance and services biggest priorities of health ministry - USA - Renewals hint at reinsurance pricing floor - Need to connect capital to risk - UK- Demand for Munich Re & Beazley cyber solution - UAE – Encouraging tenants to review replacement home insurance - Egypt – Federation asks help of supervision on health insurance - ILS focuses Bermuda reinsurers on closing Protection Gap - Solvency II Increases Reinsurance Demand - Saudi Arabia – Insurance of domestic workers not compulsory - UAE – 30% motor insurance price increase - Egypt – Competition Authority against abuse in health insurance - Saudi Arabia – Need to decrease the number of insurers - Brexit threaten London insurance jobs and business - USA - Two-tier capital regulation proposed for insurance - Solvency II to increase reinsurance demand - Saudi Arabia – Returning part of insurance premium on cancellation - UAE – 3 million health insurance beneficiaries - Saudi Arabia – 3 roles for health insurance companies - Qatar – Ministry of Health finalizes health insurance project - June 1 reinsurance renewals expected down 3% to 5% - Saudi Arabia – SAMA monitors unprofitable insurers - UAE – Moving from average health insurance package to basic - USA – Will losses lead to rising reinsurance demand? - Lebanon – Mutual Insurance Funds and illegal practices - Saudi Arabia – USD 3.3 billion investments in insurance - Egypt – Three-step strategy to develop microinsurance - 3 Challenges facing microinsurance internationally - Saudi Arabia – Monetary Agency requests an insurance sector timetable - UAE – 30% growth expected for Lloyd’s in 2016 - Oman – 1.6% insurance share of GDP in 2015 - African CIMA zone: capital increase - Saudi Arabia – Activating compulsory motor to boost the sector - Saudi Arabia – Employment day for insurance sector - AXA UK to sell investment and pensions business - Saudi Arabia – “Motor” market share increases to 38% - Egypt – 25% increase in health insurance prices - African Union insurance to boost disaster cover to $1.5 bln - EgyptAir to have little impact on soft aviation market - Lebanon – Limited growth of insurance sector in 2015 - UAE – Insurance least affected by oil price decreases - London casualty reserves vulnerable - EIOPA stress test will assess insurers’ vulnerabilities - EU regulation should allow insurers to put customers first - Saudi Arabia – Charging the insured health service fees - Qatar – Half of spare part prices charged in comprehensive motor - Bermudian reinsurer ROE’s down nearly a third - Saudi Arabia – Insurance harms investors and vehicle owners - Qatar – Launching 5 traffic investigation offices at insurers - UK - Anonymised database for cyber insurance - Saudi Arabia – Comprehensive strategy for insurance sector - UAE – 56% investment profit growth of insurance in Q1 - Iraq – Call to open opportunities for private insurers - Egypt – Compulsory insurance recommended for shops - Oman – 68% Takaful insurance growth last year - Emerging markets key to insurance growth - USA - Rules for too big to fail insurance firms - Kuwait – Attempts to adopt a new insurance law - Reinsurers note rate decline slowdown - UK – EU in legislation to remain - Egypt – 35.4% savings growth at insurance companies - Egypt – Negative effects of USD appreciation on insurance - Guy Carpenter Partners with Symantec to Create Cyber Model - Saudi Arabia – 20% insurance growth and 2030 Vision boosts performance - UAE – Chaotic hospital data leads to health insurance losses - Industry CEOs join Insurance Development Forum - Smart health card for 40 million GCC citizens - Egypt – Competition to insure railway merchandise - Zurich Restructure on Track - Saudi Arabia – Increased insurance fraud contributes to losses - Saudi Arabia – Increased insurance fraud contributes to losses - UAE – Procedures against insurers not complying with competition laws - Global multiline insurers ready for challenges - Alternative capital to continue disruption of reinsurance - At least 50% of Canada wildfire loss reinsured - Egypt – Fire cover price increase considered - Insurers are still grappling with Solvency II - Efficient ILS structure will secure London’s future - Saudi Arabia – Preparing roads to decrease insurance price - Shift noted in reinsurance buying habits in Q1 - Scope for reinsurance growth in frontier markets - USD 30 billion insurance premiums in Arab market - Munich Re trims 2016 forecast after weak Q1 - Health insurance cost increase in Arab region - Saudi Arabia – Call for new products answering all needs - Qatar – 3 insurers increase capital in unified bureau - Egypt – No instructions to list Misr insurance in the stock exchange - Saudi Arabia – 1000 new employments at insurers - UAE – Health care service price controls requested - UAE – 20% increase in comprehensive motor insurance prices - Qatar – Health insurance tender for citizens - Worst April for natural disaster losses since 2011 - UAE: Families ask for reasonable-cost insurance for elderly as deadline looms - UK: Medical insurance premiums set to soar in UK - World: Commercial property/casualty insurance rates decline - Robot surgeons one step closer to reality - Fitch: Global Reinsurance Profits to Decline on Soft Market Conditions - Q1 catastrophes the highest in a decade - Saudi Arabia – Linking insurance prices to traffic accidents - UAE – AED 3.68 billion unnecessary medical services - S&P highlights modelling uncertainty - UAE – Health insurance premiums grow 120% to AED 12.8 billion - Egypt – Investment Authority to amend marine contract - UK - Self-driving cars to disrupt motor market - Declining reserve releases could cut earnings by 6% - UAE – Amending fire contracts and raising prices - UAE – Revealing bills to the insured decreases health costs - Bahrain – Insurance companies’ mergers required amid competition - Q1 ILS issuance saw a rise in deal complexity - Saudi Arabia – High authorities request health insurance study - Oman – OR 5.8 million as rain damage claim - Reinsurers maintain presence with alternative capital - UAE – Compulsory appointment of actuaries to price motor policies - Saudi insurers: 2030 Vision pathway for advancement - UK - Testing importance of reinsurance capital - USA - Insurance Regulation Belongs to the 50 States - Bank of Russia aims to strengthen insurance supervision - Bahrain – Request to give priority to Bahraini insurers - Lebanon – Zaccar president of Insurance Association - Realistic reinsurance RoE’s down to 3.4% - UAE – Proposed committees for insurance disputes - Egypt – 18% increase in commission and production costs - Algeria – Motor price increase and no compensation for bad drivers - The Algerian insurance market’s potential to be exploited - Saudi Arabia – Insurance sector reform pushes speculators to withdraw - UAE - 30% of insurance in Dubai linked to ID - UAE – “Daman” employs 35% of Emirati insurance workforce - Insurance tech investment surges - A.M. Best: BCAR revisions to impact ILS - Saudi Arabia – Health Insurance Council obtains ISO - Qatar – Health insurers confirm their readiness - Egypt – US dollar shortage main insurance challenge - Egypt – Insurance market dances with retentions - Algeria – The crisis pushes toward Islamic insurance - Not all reinsurers will survive today’s market environment - SCOR delivers solid growth in April renewals - Swiss Re sees 50% of growth from emerging markets - Qatar – Price war between insurers - Jordan – Health insurance for 640 thousand Egyptian workers - Strong start in 2016 for ILS & cat bonds - UAE – Car write-off and claims handling are main complaints - Financial Leaders: Dangers of Negative Interest Rates - Cultural Clashes Cause Many M&A Failures - Reinsurers increasing 1-in-100-year cat exposure - UAE - Health insurance engine of grow of economy - Algeria – Settling claims for citizens within 2 months - Iraq – Improving insurance sector strengthens economy - Egypt – A call for factories adopt safety standards - Qatar – High penetration of Islamic insurance - UAE – 17% Takaful share of written premiums - India- Instead of buying insurance, Indians are breaking into their savings to pay hospital bills - Saudi Arabia Some insurers agree to cover the damages caused by hail on vehicles - Global spending on health is expected to increase to $18.28 trillion worldwide by 2040 - Egypt – EGP 40 thousand compensation for rapid transit accidents - Return pressure the new reality for reinsurance - UN: Reinsurance needs to do more on climate catastrophes - UAE – Homogeneous risks basis of premium retention - GCC countries to launch “credit rating agency” - UAE – Collusion to raise building insurance prices - Reinsurance stock prices had good luck warns A.M. Best - Strong Q1 reinsurance results expected - Bahrain – Study to reconsider motor insurance prices - Egypt – Electronic issuance of “compulsory motor” insurance - Egypt – New comprehensive motor insurance policy - UAE – Combatting money laundering in insurance - Saudi Arabia – 17 parties unite against insurance prices - UAE – Restrictions on health insurance abuse - Qatar – Probable mergers between insurers - Bahrain Insurance Association launches awareness campaign - Kuwait – Ministry of Health unable to insure retirees - World Bank targets sovereign disaster risk transfer - UAE – Insurance Authority compels insurers to mention premium - Europe - Technology threatens 250,000 insurance jobs - Negative Outlook for Energy Insurers - Catastrophe Reinsurance Prices Will Continue to Drop - Saudi Arabia – Quality certificate of hospitals for health insurance - UAE – Building insurance premiums lost abroad - Reinsurance expenses up, returns down, but profits continue - Saudi Arabia – Insuring malpractice of real estate experts - Egypt – Life forum recommends technology use and bancassurance - Increase in reinsurance demand likely to favour top-tier - Insurtech to efficiently transfer risk to ILS - Bank of England warns of soft reinsurance market - Reinsurers increase peak zone cat risk exposure - UAE – Insurers not allowed to change deductible - The Egyptian Insurance Awareness Association signs protocol with FAIR - Egypt – Life insurances promising during future years - Micro-insurance premiums in Africa at USD 640 million - Alternative reinsurance capital grew to $72bn in 2015 - Kuwait – Health insurance for retirees: KD 100 million project - EU cuts capital charges for insurers investing in infrastructure - Iraq – Implementing health insurance improves services - Saudi Arabia – 10.8 million health insurance beneficiaries - Saudi Arabia – Reforming insurers’ objectives supports health care - UAE – Health insurance philosophy is to ease quality and access - Reinsurance rates down in April renewal but demand up - Allianz plans to divest $5bn Italian life insurance - Insurers face increasing threat from InsurTech start-ups - Rates slow ILS growth and reinsurer discipline worries - MetLife Beats Back Too-Big-to-Fail Label - Saudi Health Minister: We did not finalize health insurance for citizens - Misr Insurance: War policy covers plane hijacking - Tianjin insurance losses up to $3.5 bln - Alternative reinsurance capital to grow influence in Europe - Jordan – Arab Orient Insurance plans acquisition - Importance of ILS to capitalise post-event - Qatar Central Bank issues executive insurance regulations - Oman – Regulating investment insurance products - Bahrain – Launching “motor accident fund” - Egypt – Proposal to assign insurance disputes to economic tribunals - Saudi Arabia – National Transformation Program supports health investment - Qatar – Insurance as 1.5% of GDP - USD 5.5 billion GCC spending on overseas treatment annually - Health insurance for 6000 old aged cases in Sharjah soon - Kuwait – Implementing soon health insurance for retirees - Weak reinsurance market conditions to continue - Actuarial body issues best practice for operational risks - Small cats, big problems - USD 200 million energy insurance premiums lost in GCC - KSA - Financing and mortgages could boost insurance demand - Egypt – Negotiations with reinsurers interrupted by USD crisis - To enter emerging markets ILS needs to educate - Oman – Security and safety at industrial facilities - Egypt – 30 thousand customers “declined” in life insurance - India may penalize delays in crop insurance settlements - Reinsurers creep closer to breakeven - Iraq – call for compulsory insurance law - Egypt – Competition on the coverage of 13 million workers - Cedants’ strategies changed by risk appetite statements - Reinsurance reserve releases to slow - Insurance sector quadruples M&A activity - Europe - Financial literacy key to growth and stability - UAE - Launching motor insurance electronic portal - Jordan – Government incentives for insurers’ mergers attractive - Munich Re stashes cash to counter negative rates - UAE – 25% increase in health insurance prices - Jordan – Incentives for insurers to merge - Reinsurers won’t be on systemically important list - Reinsurers average return on equity tumbles in 2015 - Saudi health ministry: We did not set year 2020 for health insurance - Qatar – Toward the reform of motor insurance policies - Kuwait – Kuwait Insurance Federation to raise qualifications - Egypt – Insuring imported equipment affected by EGP decline - Munich Re forecasts lower profits and competitive pressure - Saudi Arabia – “Najm” is a non-profit service company - Qatar – Shifting health insurance to private sector - Algeria – Paying electronically for motor insurance - MENA insurance markets resilient - Gulf insurers will launch a fire risk fund - Saudi Arabia – policyholders’ protection law among the best - Lebanon – Life premiums increase to USD 471 million in 2015 - Evolving market forces reinsurance model to rethink - UAE – Car agencies keep old spare parts - Reinsurance is currently extremely efficient capital - UAE – Weak control over health insurance claims - UK – Different impacts of underwriting on Solvency II - AIG in two-year casualty deal with Swiss Re - UAE – Licensing and registration rules for actuaries - Saudi Arabia – CCHI denies family should be insured by same insurer - Meiji Yasuda acquires StanCorp Financial for $5bn - Reinsurance rates to soften more at renewals - Saudi Arabia – Insurers’ capital increase is not a solution - Saudi Arabia – 7 challenges face health insurance - Afro-Asian Federation asks for political insurance pool - Arab Insurance Institute and LOMA: agreement signed - UAE – Differing increases in motor insurance prices - Bahrain – Unified motor policy and claims rules soon - Egypt – Motor insurance prices up by 18% driven by USD - Tunisia – Prison for insurance fraud cases - UAE - Woman to pay Dh3 million for crash caused by minor son - India's health protection gap is the biggest - UK - Insurance industry prioritises big data in 2016 - Reinsurance rates to continue declines at mid-year - Oman- Establishment of a common model of motor insurance - Morocco- Moroccan insurance supported by the life class of business - Saudi Arabia – Foreign consultant studies insurance prices - Europe's insurers turn to risky property - Risk transfer can help bridge Africa’s protection gap - Saudi Arabia – 125 companies to implement IFRS - Lebanese-French mutual insurance cooperation - Saudi Arabia – Strengthening insurance culture to develop business projects - Egypt – Dollar currency weighs heavily on insurers - Kuwait – “Money laundering dept” at Ministry tackles insurance - UAE – Insurance Authority consults national companies - Egypt – Marketing the feasibility study of Egyptian reinsurer - Gulf Health Council: Insurance in KSA is weak - Reinsurer margins to erode further - UAE – AED 106 million losses of 29 insurers in 2015 - Profitability a challenge despite reinsurance rate stabilization - UAE – Necessity of insuring building design errors - Qatar – Demands of hospitals in new health insurance system - India - Indebted farmers seek subsidies and insurance - UAE – Requests for compulsory insurance on buildings - UAE: 1 billion $ abused in medicines and tests in health insurance - Egypt – Total health insurance premiums at EGP 3.5 billion - Egypt – 62% of the insured have chronic diseases - Alternative reinsurance capital & ILS fueling innovation - UAE property insurance premiums to soften despite blazes - UAE – “Daman” pays 8 million in a single treatment - Egypt – Insurers aim at collaborating with “Traffic” authority - Egypt – Launching an insurance awareness website - UAE – Motor insurance price increases for the aged - Kuwait – Insurance market not powerful and not regulated - Egypt – Long term expectations of insurance still positive - Capital Adequacy Is Key Strength of Reinsurers in Difficult Market - Saudi “Health Council” controls hospitals - Iraq – Supporting insurance with legislations boosts growth - Egypt – EGP 60 million to insure civil nuclear liability - UAE – Life insurer initiative with AED 1 billion capital - Reinsurance challenges more than a soft market - UAE – Insurers have to mention premium value - UAE – Increasing demand for insurance of lawyers’ risks - UAE – Dubai Real Estate regulator imposes insurance on buidings - UK- Regulator questions higher life expectancy reinsurance - Jordan – Insurance regulation from Ministry to Central Bank - Saudi Arabia – Privatization of health: Which direction? - Indonesia Offers Vast Potential for Takaful - Reinsurers reserves running low - Saudi insurers need mergers and restructuring - Misr Life insurance reveals EGP 29 million contract fraud - Reinsurance cycle won’t turn until situation is critical - UAE insurers’ transition to tougher norms - Insurance prices of Saudi cars highest in Arab region - Oman – Premiums increase to OR 466 during 2015 - Jordan – Insurance premiums increase to JOD 551.5 million - Egypt – Dollar appreciation increases insurance losses - UAE – Injured transportation fees raise insurance fears - UAE – Agencies are not respecting replacement car rule - Accenture to provide services to RSA for 6 years - Run-off market to attract more ILS - Saudi Arabia – Real estate developers to secure decennial insurance - UK - greater oversight of longevity risk transfer - Bermuda’s regulation enhances business opportunities - Egypt – Insurers consider entering the stock exchange - Egypt – Promising opportunities for health insurance - UAE – Bancassurance under supervision - Life insurance sector premiums at AED 7.5 billion in UAE - P&I Sector’s Underwriting Discipline to Be Tested - Greater transparency could encourage ILS sector growth - Saudi Arabia – Health insurance represents 52% of premiums - Health Authority in Abu Dhabi: 2800 insurance violations - Bahrain – Uniform motor insurance policy by mid-year - Egypt – Policyholders’ protection fund maintained in law - Egypt – Takaful premiums reached EGP 1.9 billion in November - Lloyd’s - need to do more R&D - UAE – Reinsurers withdraw from health insurance - Some reinsurance lines no longer meeting cost-of-capital - Gulf insurers: “Capable of overcoming crisis” - Insurer companies: “race for Iran oil could be false start” - Takaful at a crossroads - Munich Re reflects reinsurance pressure - Saudi Arabia – Decisions of “Health Council” affect investments - Insurance Europe supports pan-European pension - Signs of rates stabilising in competitive reinsurance market - Prices & terms eroded at January reinsurance renewal - Growth expectations in the Gulf despite challenges - Egypt – Strong decrease in life insurance issuance - ILS & cat bond market stabilised in 2015 - Saudi Arabia – 6.5 million uninsured cars - UAE – 10% growth insurance premiums in 2015 - Lebanon – Insurance profits USD 140.96 mln in 2014 - Egypt – Blacklist for high loss insurance customers - Energy insurance shortfall, an opportunity for ILS - Saudi Arabia – Possibility of mergers between small insurers - 90% of population registered in health insurance in Dubai in 2016 - Egypt – Insurance premiums of natural risks as 25% of claims - Egypt – Re-examination of the health insurance draft law - UAE – Motor insurance prices increased by 25% - M&A to continue for Bermuda reinsurers - UAE – Companies compelled to inform customer on orange card - Profits of Saudi insurance sector increased by 13% during 2015 - Large European reinsurers meeting cost-of-capital - Reinsurer reserves releases to shrink - GIC Re wants to be among top 10 global reinsurers - Owners of Dubai high-rises urged to check insurance - Saudi Arabia – Vehicle price increase won’t affect premium - UAE – Uniform motor insurance policy is very late - Oil crisis will have no mercy on Kuwaiti insurance sector - Saudi Arabia – SAR 200 increase on domestic worker insurance - UAE – Fear of arson at warehouses - India - Six foreign reinsurers apply to open branch offices - Saudi Arabia to consider reforms to social insurance - UAE – Case for sports cars insurance through agencies - Aviation market sees rates fall 25% in December - Cat bonds hit new high, corporate interest to drive growth - Saudi Arabia – Linking brokers and insurers to control claim - Africa Re increases capital to $500 million - Risks in non-life reinsurance skewed to the downside - SAMA sets committee to examine insurance price increases in KSA - Saudi Arabia – No additional premium to cover vehicle passengers - Impossible for industry to achieve 10% ROE in 2016 - Kuwait – Insurers cannot claim car wreckage - Egypt – Insurance brokers agree to form federation - RSA to establish presence at Lloyd’s - UAE – Insurance covers multi-vehicle accidents - Egyptian Insurance Federation to cooperate on health insurance - Lloyd’s insurers take advantage of soft reinsurance - Egypt – Seminar to discuss the recurrent fire accidents - Allianz sees 10 more years of low interest rates - Reinsurers as gatekeepers of risk: AM Best - China’s $41bn of 2015 catastrophes uninsured - Hurricane Alex forms in Atlantic, a rare January storm - Capital markets now supply over 50% of retro capacity - The Gulf insurance sector is seeking profitability - India - Health insurers to pass on discounts given by hospitals - Renewals show ILS expanding, entering new reinsurance markets - Insured catastrophe losses 31% below average in 2015 - Saudi Arabia – No insurance for war reporters - Egypt – Workshop on insurance and protecting competition - Egypt – New health insurance law overcomes problems - Egyptian insurance federation activates agricultural cover - Over £20bn of longevity hedges expected in 2016 - USA - Attorneys general joining probe of health insurer mergers - Saudi Arabia – Weak people burn warehouses intentionally - Qatar – QR 10 billion insurance premiums in 2015 - Health insurance an opportunity to build an Arab human capital - Evidence that reinsurance underwriting cycle is dead - Jordan – Health Insurance Study delayed - Signs of discipline despite soft reinsurance market - Reinsurance sector no longer earning its cost of equity - UAE – Increased participation costs in motor insurance - Egypt – Debate about marine hull insurance deductibles - USA - Reinsurance Head addresses Climate Change - Saudi Arabia – Council of Competition does not intervene in insurance prices - UAE – Insurance affected by oil price decreases and challenges - Reinsurance prices near cost-of-capital - Saudi Arabia – Regulations of actuarial work issued - Saudi Arabia – Health Insurance adopts electronic framework - Qatar – Tender to choose insurers to provide coverage for citizens - Morocco – Minister of Justice blames insurers on car accidents - Tunisia – 10% increase in prices of motor insurance against liabilities - Arab Insurance Awareness Association launched - Gulf – Some markets grow during crises - Rates adequate, returns near cost-of-capital in Lloyd’s renewals - Alternative reinsurance capital growth outstrips traditional - Saudi Arabia – Questions about insurers - Qatar – New health insurance more comprehensive - Qatar – Insurers and traffic department electronically linked - Jordan – Coordination between civil defense and insurers - ILS discipline slows reinsurance softening - Reinsurance renewals see price stabilisation hopes dashed - Egypt - Hospitals’ capacity concerns ahead of health insurance bill - China Provides Private Health Insurance Tax Relief - Egypt – Insurance Federation seeks to limit marine losses - UAE - Insurance and pension sector growth expected - UK floods need adequate insurance and faster response - Lebanon-Insurance sector grows in premiums and profits - Some European renewals aggressively priced below expected loss - Emirates ID to also substitute for Insurance Card by 2016-end - Egypt- A new Social Health Insurance law is offered to the Syndicates for review - Saudi Arabia- Creating a database dedicated to motor risk - Partnership between the Supreme Council of Health and insurers to ensure quality and competitiveness - A boom for life insurance companies after entering the digital era - UAE insurers face tougher outlook as earnings pressures rise - UK- Plans unveiled to stop fraudulent compensation claims for minor injuries in car crashes - UK flooding could wipe 0.2pc off GDP - Insurance Companies’ Share of Egyptian Health Expenditure Does Not Exceed 4%. - Suez Canal Life Insurance to attract Egyptian community in Kuwait - ACE’s Global Reinsurance Faces Stiff Competition - Egypt - 6 insurance companies pump 583.5 million pounds in their capital base - Saudi Arabian insurers intend to price their motor insurance according to the conduct of each client - Qatar’s health insurance program Seha is being suspended - UAE- Reduced demand for coverage in the engineering and marine insurance - an officer at the “Council of Saudi Chambers “: the increase in insurance rates is unjustified - Egypt –The waste of billions in health insurance is behind the aversion to hospitals - African Risk Capacity: Insurance For African Development - Saudi Arabia - Health insurance companies to be fined for delaying approvals - Kingdom of Bahrain - "IFSB" looking into a draft on guiding principles for Re-Takaful - Reinsurance may be ‘uglier’ than expected in 2016, negative outlook: A.M. Best - UAE: Insurance Authority imposes companies the inclusion of the premium in motor insurance policy - Amman: Senate approves proposal for Medical Accountability bill - Saudi Arabia - Only 3 million Saudis have health insurance - UAE – Calls to decrease the insurance prices of sports cars - Lebanon – Does our country want health insurance for its citizens? - M&A could stabilise reinsurance rates, but reduce demand in 2016 - Lebanon – Insurance is essential in economic framework - AIG authorises repurchase of up to $3 billion shares - Reinsurance rate pressure may be greater in 2016 - Saudi Arabia – Penalizing insurers which delay treatment - Oman – Recommendation to found Agricultural insurer - Axis reinsurance arm to open Dubai office - European Council adopts insurance distribution rules - Saudi Arabia – 4 insurers represent 56% of market - UAE – Companies save on health insurance - Warren Buffett continues to dial back on reinsurance - EIOPA emphasizes risk-adequate reinsurance pricing - Saudi Arabia – Motor insurance prices increase by 100% - Egypt – Insurance Federation prepares database manual - Egypt – Opportunities for best reinsurance conditions - Jordan – Health insurance instructions for house maids - Kuwait – Health Insurance on visiting “Cards” - Towers Watson and Willis Approve Merger - Reinsurers expect much of the same at January renewals - UAE – Policy cost increase weakens car sales - Jordan – Electronic link between licensing and insurance federation - ILS continues to attract investors, will further pressure reinsurers - Solvency II ratios don’t reflect economic capitalization - Oman – Health premiums at OR 107 million with 37% growth - Accenture takes life insurance into cloud computing - Egypt – New insurance licenses will be linked to market needs - Government will finance health services for Bahrainis - Algeria – Insurance Business exceeds DA 101 billion in 9m - Reinsurer earnings deterioration obscured, pressure continues - US - Entrepreneurs Raise $13 Million to reinvent insurance - UAE - Earnings and regulatory pressures on the rise - Bahrain – Insurance sector continues growth in 2014 - UK - Regulator approves all solvency internal models - Jordan – Calls for independence of insurance regulators - UAE – Insurance profits expected to decrease by 10% to 15% - Jordan – Launching of Arab seminar on credit rating - Afro-Asian FAIR to launch political violence pool - Egypt – Insurance sector expects new laws in parliament - UAE – Insurance profits expected to decrease by 10% to 15% - Jordan – Launching of Arab seminar on credit rating - Afro-Asian FAIR to launch political violence pool - Egypt – Insurance sector expects new laws in parliament - Egypt – Issuance of decennial liability insurance - Risk transfer to protect emerging economy agriculture - Financial Stability Board launches climate disclosures - Morocco to follow best practices in insurance - Zurich Insurance Increases Job Cuts, Relocations by 1,800 - India - IRDAI's new reinsurance norms favor GIC - Bank of England warns on soft market discipline - Egypt – Insurance companies can issue standardized policies - Saudi Arabia – Health insurance does not cover motor accident treatment - Qatar – Rain damage insurance claims - Bahrain – A school insures tuition fees - RGA to reinsure $22 Billion Block of Life from XL - African Risk Capacity covers organisations & NGO’s - Kuwait – Necessity of supporting industrial and construction sector - Bank of England to review alternative capital risks - Bahrain – Regulator will issue decisions on motor insurance - UAE – Insurance Premiums AED 33.5 billion with 11% growth - Egypt – Life insurance premiums increased by 37% - Ban Ki-Moon, Obama in insurance pledges at Paris climate talks - Saudi Arabia – Supervision on health insurance prices - Egypt – Insurance seminar on recurrence of fire accidents - More progress on Solvency II decisions needed - Saudi Arabia – 99% of people without home insurance - Bahrain – Parliament seeks motor insurance supervision - No one better to manage world’s risks than insurers - German insurance watchdog seeks regulatory calm - Saudi Arabia – Companies started receiving heavy rain claims - Zurich insurance will stop non-life in Middle East - Munich Re receives approval for Solvency II internal model - European Commission finds Bermuda fully equivalent for Solvency II - UAE represents 44% of Gulf insurance premiums - Insuring nuclear facilities in Egypt - Capital a determinant in ongoing insurance rate decline - Expansion of Arab Insurance Federation’s trainings - Saudi Arabia – Health investments are successful yet difficult - Terrorism reinsurance fund to help Parisian businesses - Normalised cat losses to threaten reinsurers - More ILS capacity to enter market post-event - Saudi Arabia – Health insurance on visitors soon - Egypt – The Insurance Market averts risks - Global losses hint at broadening ILS - Insurance Authority and Abu Dhabi Global Market sign a Memorandum of Cooperation - Saudi Arabia – Insurance risks higher in Jeddah - Local market competency invaluable to smaller reinsurers - Financial Stability Board addresses climate risk - Large British Insurers exempted from EU Audit Rules - Egypt – Expanding customer base compensates reinsurers exit - 68 traditional re/insurers commit to Climate Risk Statement - Alternative capital forced reinsurers to adapt - Saudi Arabia – 90% not covered against natural perils - UAE – Higher fees on comprehensive motor insurance - Europe - solvency swings as rule launch looms - Jordan – The profits of 24 insurers decrease by 18% - Egypt – Relationship with reinsurers negatively affected by Fire results - EU regulator seeks consistent insurer models - Alternative capital to compress reinsurance cycle - Lack of predictive modelling a factor limiting ILS casualty growth - UAE – Compelling insurers to cover hospitalization claims - Jordan – Insurers will collect traffic contravention fines - Egypt – Issuing standardized insurance policies electronically - Saudi Arabia – Insurance brokers exposed to losses - Egypt – Insurance corporate governance limits risks - Kuwait – Implementation of retirees’ health insurance - Egypt – Insurance competition to cover 1,000 tourism guides - Cedants centralising reinsurance purchases - Egypt – Necessity of appointing actuaries in Takaful companies - Brazil - Insurers Face Claims of $600 Million - Egypt – Examining the results of Fire reinsurance treaties - Supply demand imbalance to lead reinsurance prices down - Saudi Arabia – 20% increase in health insurance cost - Tunisia – Speeding insurance claim settlement - Catastrophe bond returns higher in 2015 - Renewal of price wars between Saudi insurers - Emirati insurers to settle emergency costs - Kuwait – Cancelling health insurance for residents is not feasible - Saudi Arabia – Limiting the abuse of the visitor policy - Reshaped reinsurance can support sustainable development - Arab premiums reach USD 33 billion with 11% growth - Asia-Pacific reinsurance buyers benefit from market - UAE – Decreasing prices at the expense of quality - Foreign lobbies ask China to revise cyber insurance rules - U.S. P&C rates down 3.1% in Q3 - Egypt – Negative implications of dollar appreciation on reinsurance - Reinsurance sector retains strong base despite headwinds - Asia-Pacific disaster losses hit half a trillion dollars in 10 years - New Zealand earthquake loss continues deterioration trend - US - Cheaper reinsurance helps home insurers - Egypt – Draft law submitted to government before year end 2015 - 12% share of “Takaful insurance” in Egypt - Changing regulation will drive demand for reinsurance - Shanghai will emerge as a reinsurance hub - Aviva to underwrite home assistance policies in UK - India - Norms for foreign reinsurers to open branches - Saudi insurers act as investment companies - UAE – 80% of insurance frauds are not detected - Swiss Re plans share buyback next month - Saudi Arabia – Insurance policy for property valuation - 11% annual growth rate in Emirati insurance sector - Swiss Re unlikely to be major player in M&A - Africa Re and ILO sign microinsurance agreement - Property and casualty insurance to soften further in 2016 - Solvency II highlights importance of good governance - Saudi Arabia – Insurance prices increase by more than 100% - UAE – Increasing motor insurance prices prevents claim delays - Kuwait – Takaful insurance proposal for medical malpractice - Egypt – Engineering committee completes survey model - Saudi Arabia – Safety in industrial areas - The Dubai police organizes 1st insurance forum - Bahrain – License of a Gulf insurance company studied - Egypt – Terrorism in accident policies not covered by reinsurers - Oman – Training programs for the insurance sector - USA - Humana shareholders approve merger with Aetna - Jordan – New insurance dispute settlement committee - Egypt – Revolution in insurance awareness with financial supervision - Historical EU windstorm losses could be unprecedented - Tianjin loss may help moderate reinsurance prices at 1/1 - Gulf insurance market toward further growth - Calls to initiate actuarial academic degrees in UAE - Only licensed Saudi factories to obtain insurance compensation - Moody’s: Egyptian insurance market promising - Motor insurance prices to increase 30% in KSA - UAE – Insurers intentionally avoid compensation - Qatar - Conflict between motor insurers and beneficiaries - Egypt – Weakness of Microinsurance market - Reinsurance prices could fall double-digits in January - Saudi Arabia – Insurance fraud decreased by 3% - EU & US insurers renew call for Transatlantic inclusion - Obamacare Sets 2016 Enrollment Goal of 10 Million - Big data models to help ILS into casualty risks - Vulnerable 20 nations to establish climate risk pooling facility - UK’s duty of responsibility extends to insurance executives - Big data models to help ILS into casualty risks - Vulnerable 20 nations to establish climate risk pooling facility - UK’s duty of responsibility extends to insurance executives - Unified motor insurance policy in UAE before year end 2015 - Reinsurance to remain tough but rate declines to slow - The challenges of the Arab reinsurance market - Arab Insurance Council - Saudi Arabia – Electronic issue of insurance for visitors - US - Negative insurer ratings outnumber positive in H1 2015 - Egyptian Federation wants to market Egyptian reinsurer - Arab Re's family wishes you Happy Hijri Year 1437 - أعاد الله عليكم كثيراً من أمثالها. كل عام وأنتم بخير - Actions to regulate insurance in the GCC - SAMA to settle disputes of Saudi insurers with transport companies - Qatar – The health insurance budget under stress - Cyber insurance premiums rocket after high-profile attacks - Saudi Arabia – “Retirees” submit requests to Ministry of Finance - UAE – Insurance companies delay due settlements - TowersWatson shareholders against merger with Willis - UN report highlights climate & disaster risk transfer - Qatar – Increase of government’s support to health by 34.3% - Egypt – Insurers should promote liability insurance - Multi-national re-insurance brokers violate Indian laws - Analytics reshaped the reinsurance value chain - Saudi Arabia – Insurance prices left to supply and demand - Bahrain – President of Supreme Health tackles national health insurance - Egypt – Insurance sector considers natural risk pool - UK Insurers to appoint whistleblower manager - Saudi Arabia – Insurers tend to change their policies with hospitals - IRB Brasil IPO suspended as market turmoil worsens - India - Foreign reinsurers may repatriate profit - 41% of Saudi insurers should improve risk management - Saudi Arabia – The Educators ask for health insurance - UK - Market conditions remain tough in non-life - KSA – The Insurance Sector and the program proposal - Jordan – Domestic worker insurance policy regulations - Egypt – The development of Takaful related to GCC holdings - If MetLife Is Tagged As Systemically Risky, Why Isn’t Berkshire Hathaway? - New reinsurance reality – Lower returns, underwriting focus - Engineering insurers must better tackle political risk - UAE – Insurance service for cars at fuel stations - UK to introduce damages for late claims payment - India - Reinsurance norms to be finalised soon - Islamic economy growing at nearly double global rate - Saudi Arabia – Insurance cards for retirees above age 60 - Bank of England: Insurers Exposed to Climate Change - Reinsurance demand to increase in 2016 - Profits of Saudi insurers will improve this year - Insurance industry must help end poverty - Buffett reduces shareholding in reinsurance firm Munich Re - Walid Genadry Distinguished Fellow of IAIS - Airbus and Atos to Create Cyber Security Products - Reinsurance cycle signals reduced payout period post-event - UK watchdog bans default selling of additional general insurance - China - Life insurance pricing mechanism liberalized - New reinsurance demand expected with Solvency II - Buyer's market continues as reinsurance rates keep falling - USA - Health Insurer CEOs Defend Big Mergers - Sub-Saharan Reinsurance Markets Attract Capacity - Reinsurance M&A ‘mega deals’ an opportunity for ILS - Ace Group introduces new $100m Global Cyber Facility product - Engineering premiums in UAE reach AED 1 billion in 2014 - Overcapacity Weighs on MENA Reinsurers - US - Antitrust lawmakers concerned about insurance mergers - China -Insurance regulator to gain increased power - HCC Insurance approves acquisition by Tokio Marine - Reinsurers as capital market transformers - The reinvention of the reinsurance broker - Insurers must be prepared as Solvency II approaches - Arab Re's Family Wishes You a happy "Eid Al Adha" - شركة إعادة التأمين العربية تتمنى لكم عيد أضحى مباركاً - Saudi insurers to Transport committee: Your statistics are inaccurate - UAE – Insurance pricing rules for cars soon - Zurich drops RSA bid and focus on profitability - UAE – Truncated insurance claims - Bahrain – Health Insurance for scholarship students - China Re Wins Hong Kong Stock Exchange Approval - UAE – Insurers delay vehicle repair procedures - Insurance Sector Struggles to Innovate - The cheapest reinsurance is not always the best - UAE – Agreement between licensed brokers and intruders - Egypt - Temporary Judge Insurance Policy issued by Public Insurers - Egypt – Federation to apply political violence insurance on tourists - Towers Watson to buy Canadian insurance technology business Brovada - Reinsurance margins heading below acceptable returns - Jordan – Instructions allowing insurance mergers - UAE – Companies increase motor insurance prices because of age - Jordan – Premiums grow by 7% reaching JOD 525 million in 2014 - Lloyd’s considers writing experimental risks - Willingness to adapt has protected reinsurance ratings - The Riyadh chamber wants to set motor insurance pricing - Egypt – Competition is burning “Fire” insurance - Suez Canal Project raises the credit rating of Egypt - Towers Watson launches vGrid - London reinsurance market needs true innovation - XL Catlin launches new crime insurance policy in US - Alternative capital firmly embedded in reinsurance - Value of reinsurance M&A so far unclear - Saudi Insurance Companies cover coronavirus - Reinsurer capital totalled $565bn - Signs of rationality in reinsurance, as capital growth slows - Foreign companies won’t enter the Saudi insurance market - Alternative reinsurance capital to have profound effect - Mitsui Sumitomo buying Amlin in $5.33bn deal - Saudis tend to buy the cheapest insurance - Qatar – “Kafa'a” opens dialogue with insurance leaders - Egypt – EGP 1.1 billion Takaful insurance premiums in H1 - Diversified reinsurers risk continuation of pricing pressures - The Saudi Insurance sector reached SAR 18 billion in H1 - Reinsurance has an identity crisis - Fastest Insurance Growth in MENA - Tianjin blasts insurance loss as much as $3.3bn - Fitch: 2016 Reinsurance sector outlook negative - New EU insurer capital rules from January 2016 - Reinsurers’ management of catastrophe exposures diverges - Capital markets have role to play in Asian flood risk - Survey of Insurance Accounts in UAE by 2015 - Jordan: A Vision to solve the problems of nationals with the obligatory Insurance - SAMA requested to stop the abuse of Saudi insurers - Lebanon – Insurers do not cover psychiatric treatment - Compulsory insurance on police and army in Egypt - Legacy of Hurricane Katrina – Reinsurance capacity bubble - Kuwait – 7 companies proposed retirement health insurance - Bahrain – 2 banks and 4 insurers licensed in 2015 - The Egyptian market can absorb additional insurers - Monitoring Saudi insurers removed the challenges and raised performance - S&P: Reinsurance M&A Will Be Driven by Berkshire Hathaway Model - Vast capacity for Asia reinsurance market to grow: Fitch - Takaful Insurance can Cover the Travel of Pilgrims - US group urges China to open insurance, securities markets - Algeria: Life insurance in decline - Health insurance is staggeringly uncompetitive in America, and is poised to get even worse - Alternative reinsurance capital to persist, despite being untested - Egypt: Presidential Decree to Amend the Insurance Supervision and Control Law - FBD: Short-term insurance gain has yielded long-term pain - Monte Preview: M&A mania to continue - Losses of the Gulf Exchanges in August Totaling nearly Half of their 2015 Budgets - Survey of Global Executives Reveals Business Threat of Poor Risk Oversight - UK: Over 4,000 fraudulent insurance applications made every week - Saudi Arabia: Minister of Health reviews the SHIB project - 61 per cent of Dubai Residents’ Homes are Uninsured - S&P warns on reinsurers protecting profits through reserve releases - Egypt: An insurance scheme for natural disasters - Illegal vehicles.. big losses to the state treasury, insurance companies and the "Fund" - Road transport pumping 300 million riyals annually in the insurance market - Saving for retirement trend growing in UAE: Survey - The Economic Legislation agrees the amendments to the Capital Market Law in Egypt - ILS market growth should not be at the expense of discipline, S&P warns - Banks to pay back two million conned by useless card insurance - Misr Insurance wins power contracts worth multi-billion Egyptian pounds - Biggest reinsurance firms putting their risk management to the test - Saudi Arabia to discuss mandatory health insurance for visa applicants - UAE: Extending the deadline for composite insurers to comply with the news rules for one more year - Chinese property firm plots big Asian reinsurance start-up - Saudi Arabia: Orphans to be provided with medical insurance cards after Eid Al-Adha - Insurers Look to Cyber, M&A Coverage as Prices Decline for 9th Quarter: Marsh - Allianz, Zurich receive damages claims from firms affected by Tianjin blasts - Tunisian insurance sector has yet to reach its potential - Huge Explosions & Fire in Chinese Port of Tianjin Kill 44 - Medical services in Egypt: Misery offered for Miserable People - Many threats affecting the largest Arab economy - Qatar - A mistake to open the door to private health insurance - The Council of Ministers in UAE grants 1 year for insurers to regularize - Saudi insurance sector profits rise 60% in the first half of 2015 - UAE’s insurance sector the fastest in growing - ILS and cat bond investor discipline helps market stabilize - Lebanon – Penalty Fees for not insuring the Car: 1 Million LBP - Reduction of the waiting period of ships in the Suez Canal lowers the cost of insurance - XL launches $1bn share buy-back - Saudi Arabia – Advanced system eliminates fake insurance - Egypt – Establishing a natural risk pool against earthquakes - Supreme Health Council stops insurers from providing services to Qataris - Jordan – JOD 141 million health insurance premiums - AIG Focuses on Integrating Japan Businesses - Egypt – Capital increase of 7 insurance companies - Hannover Re sees reinsurance price pressures easing - Rating agencies skeptical on PartnerRe’s future - Marsh Completes Acquisition of UK-Based SME Insurance Services - AmTrust to acquire Monsanto subsidiary’s crop insurance business - PartnerRe agrees sale with Exor - Jordan – The Ministry of Industry penalizes insurers for raising rates - Kuwait – 105 thousand citizens benefit from retirement health insurance - Foreign reinsures obtain half of the premiums in UAE - China Reinsurance files for Hong Kong IPO seen at up to $2 bln - An uncertain future for Bermudian re/insurers - Towers Watson releases new data validation software tool - Netherlands - Insurer under fire after refusing breast cancer treatment - Stiff competition results in softening energy market - UK’s Allianz Insurance Partners with Pentura for Cyber services - Egypt – Growth of marine insurance conditioned on Shipbuilding - Regulation to drive contingent capital use in reinsurance - Alternative capital a supplement to traditional sources - Health insurance for visitors of KSA is electronic at 8 companies - UAE – Insurance companies abuse the free zone law - Geneva Association Study Analyzes Asian Flood Risks - More data needed to help alternative capital into new risks - Jordan – Increasing the fee related to compulsory motor is illegal - IAIS consults on controversial G-SII requirements - Compulsory PI cover spreads around the world - KSA – 1585 complaints against insurers in a year - Zurich weighing up bid for RSA - UK’s Aviva to Target $3.9B in Renewable Energy Investments - UAE - IA and Emirates ID consider linking their databases electronicall - China approves Anbang's takeover of Dutch state-owned insurer - Jordan – Warning about insurance intermediaries - Egypt – Financial Supervision experts examine the German experience - Iraq – Insurance suffers from the international sanctions’ repercussions - ObamaCare blamed for insurer mega-mergers - Generali Acquires MyDrive Solutions, a UK Data Analysis Firm - Reinsurance prices to continue decline into 2016 - Saudi Arabia – New car owners are denied vehicle’s previous insurance - Aviation rates keep falling despite losses - After the M&A, reinsurance deals face post-transaction challenges - A health insurance policy for visitors of KSA - Egypt – Coverage of visiting tourists left to companies - Takaful in the Gulf: Big challenges and strong competition - Saudi insurers have to examine driving records - Calls to control the motor insurance market in UAE - Capital & data challenge the reinsurance value proposition - Health insurance coverage of all Jordanians under study - The Moroccan government commits to extend health insurance - Reinsurance M&A creates opportunities, but is bigger actually better? - The Emirati Insurance Authority polls opinions on Vehicle portal - Saudi Arabia – Mergers could marginalize insurers - United Arab Emirates – Insurance Authority: ambulance fees are low - The Egyptian market does not attract “reinsurers” - Insurers in the Middle East use cloud computing analysis - M&A won’t stop the tide of reinsurance price declines - Saudi transport companies look for alternatives to expensive insurance - Slowing reinsurance price decline a “glimmer of hope” - Excess capacity, new capital main concern of reinsurance industry - Saudi insurers raise the prices of “Third Party” insurance - Luxembourg insurance sector reflects on "encouraging" year - Exposing UK Insurance Frauds Saves $5.58 Million a Day - Softening reinsurance market threat greater than opportunities - Kuwait – 20% increase in insurance revenues with car license reform - Egypt – “AXA” and CIB bank sign life and savings agreement - Egypt – microfinance will help cover non-payment risks - Florida property catastrophe reinsurance rates down 8.5% - Saudi Arabia – SAMA and Health Council coordination to strengthen efficiency - UK regulators insurance stress test to produce telling results for ILS - UK - Insurance giants will be forced to explain rate increases - Dubai moves fast on all-inclusive health insurance - Saudi Arabia Monetary Agency: Insurance on public facilities and KSA visitors - Jordan – “Ministry of Industry” issues insurance guide - Bank of England: Insurers’ capital level appropriate - Saudi Arabia – The Health Insurance System met its strategic targets - Saudi Arabia – When will health insurers fix their situation? - Governmental support needed to break into new risks - UK insurance premium tax hikes to 9.5% - Saudi Arabia – Traffic activities and insurance to be electronically linked - Egypt – 3 banks study the establishment of the contractor union’s insurer - Fitch: US Hospitals Well Positioned for Insurer Consolidation - European reinsurers to focus on emerging markets - US power grid cyberattack could cost $1tn - UAE – The 2014 Annual Report of Insurance Activities issued - Qatar – Consultative Assembly approves health insurance recommendations - XL Catlin launches operational risk solution - Reinsurance can protect against “new catastrophes” - UAE – Insurance Authority launches automatic renewal of insurance branches - 357 thousand Saudi companies offer healthcare to members in 2014 - Over half of insurance CEOs see tax burden as threat - Flood Re prepares to secure £2.1bn reinsurance cover - United Arab Emirates – Car agencies impose immediate insurance settlement - UK should be “at the cutting edge” of ILS - EIOPA delivers advice on insurance-based investment products - 6 health insurers are suspended for not respecting regulations - Operations of “Saada” health insurance started in Dubai - Alternative reinsurance capital hits $66bn - Reinsurance Industry Faces an Uncertain Future - Jordan – Total insurance premiums increase by 12% - Guy Carpenter Confirms Slowing of Pricing Declines in June Renewals - Factory fire in the Sultanate of Oman shows importance of insurance - Reinsurance implications of Chubb acquisition by ACE - Dubai links residency to health insurance by end of month - ACE buys upmarket Chubb in biggest ever insurance takeover - Endurance & Montpelier Re get key shareholder approvals for merger - The council of cooperative health insurance plays a vital role in Saudi Arabia’s insurance sector. - Willis & Towers Watson to merge creating $18bn broking giant - Iraq – legal junction at the opening of insurance offices near border crossing - Saudi Arabia – Entry of government hospitals in health insurance is a game changer - UAE – The “Ministry of Health” cooperates with insurers - Pension Corp. in £1.6bn longevity reinsurance deal - Troubled insurers in Saudi Arabia face the option of mergers - The World Bank in Bahrain to start the comprehensive health insurance - More threat, more opportunities: Re/insurance 2020 - Global Insurance Regulators Postpone Tougher Capital Standards - Bahraini “Takaud” considers creating a Takaful company in Egypt - Nearly half of insurers lack formal innovation strategy - Solvency II likely to be “major development” for ILS market - Cyber breaches cause average $1.1m loss for nearly four in 10 businesses - Re/Insurers Ponder the Impact of Human-Caused Earthquakes - UAE – The transparency and governance of the insurance sector - Increased portability and efficiency of capital in reinsurance - ILS market to double in size within five years - URALSIB first to deploy SAS Fraud Framework for Insurance in Russia - Opportunity to find supply/demand equilibrium in reinsurance - Re/insurance premium growth returns in 2014, profitability down - United Arab Emirates – Mental Health - Jordan – Al Wazani asks the government to speed the insurance law issuance - UK - Insurers, Bankers Can’t Be Scared - Re/insurance at heart of disaster & climate risk discussions - 41% of insurers in KSA and UAE toward improving risk management - Lebanon – Material damage TPL compulsory insurance in process - UAE – The Insurance Authority seeks to uncover money laundering - UAE – Insurance Authority seeks to classify the garages - World Cup Insurers Face Many Claims - Swiss Re to Expand Infrastructure Investments - Casualty reinsurance, advantageous but high entry barrier - Saudi insurance companies: Our prices are not excessive - UK - Aviva investigating 15,000 suspicious motor insurance claims - Half of reinsurers planning major IT investment - Reinsurers face "structural crisis": Munich Re Canada - 9 companies compete for the electronic health insurance system in KSA - UAE – What happens between insurers an car agencies? - UAE – Health insurance fraud issues - Bahrain – Amending health fees is positive for health insurance - Kingdom of Saudi Arabia – Insurers save millions due to public hospitals - UAE – Companies decline health coverage in the last hours - Willis launches solution to help pensions access longevity reinsurance - Qatar – Criticisms about cost increases and non-controlled health insurance - Lebanon – Growth of insurance sector continues despite difficulties - Egypt – New rules to deal with foreign reinsurance brokers - Investment-oriented reinsurers the future of the business - Berkshire Hathaway invests in IAG, gets quota share reinsurance deal - UAE – New rules of the unified policy increase losses - Qatar – Traffic department opens 2 offices at 2 insurers - Egypt – reinsurance brokerage should be reviewed - Egypt – Financial Supervision to poll citizens about insurance products - UAE insurers share information on bad drivers - Accenture introduces advanced analytics for financial services - Technology can make reinsurance more efficient - Kingdom of Saudi Arabia – Cooperation between insurers and fish farming projects - Warren Buffet: reinsurers will face 10 difficult years! - Internal model should not become a capital optimisation tool - Algeria – Necessity of coordination between judicial sector and insurers - $135bn reinsurance overcapacity a significant driver of softening - Don’t blindly deploy capital in a softening market - Europe awards first Solvency II equivalent status - UAE – Modernizing Takaful Insurance Regulations - UAE – Social dialogue precedes the issuance of the unified motor policy - The insurance sector is a huge sector in the Egyptian market - Accenture introduces new Insurance Customer Insights Solution - Tokio Marine to acquire HCC for $7.5bn - No immediate threat to ILS investments from climate change - Saudi insurance companies will maintain losses - UAE – Linking home medical equipment with hospitals - Kuwait – Insurance Federation still supports the creation of an authority - Egypt – Cooperation between Insurance Awareness Association and Insurance Federation - ILS managers need to provide solutions not just capacity - Saudi Arabia – The absence of regulation caused the motor insurance price increases - Plans to revive Iraqi insurance companies - Egypt – Establishment of 1st insurance awareness NGO - Light catastrophe year best scenario for European reinsurers - Overcapacity in global reinsurance set to continue - Risk function and top management lack coordination over cyber threats - Algeria – 126 billion Dinars the turnover of insurers in 2014 - June renewals show reinsurance price decline moderating - M&A to continue as reinsurers seek wider footprint - UAE – The replacement car issue causes the insurers’ apprehensions - UAE – Companies are not innovative - Lebanon – Conference on insurance and oil tackles the risks - A.M. Best: Gross Written Reinsurance Premium Drops in London Market - Launching the Saada Health Insurance Program for Citizens of Dubai - Qatar – The smallest camera uncovers a QR 3 million bribe - Brazil Said to Consider Stake Sale in $1.3 Billion Reinsurer IPO - Niche lines, capital efficiency benefit Lloyd’s re/insurers - Obesity can be costly for insurance applicants - Move toward the omanization of higher management in banking and insurance - Axis/PartnerRe plan to return $2.2bn to shareholders - Alternative capital a key risk for traditional reinsurance - UAE - Millions worth of uninsured goods up in flames - Egypt – 5 demands of brokers on insurers - 80% of African Business Lost to Foreign Firms - Concern over re/insurance terms relaxation in London - European Central Bank Warns of Risks to Insurers of Low Interest Rates - Reinsurance price pressure to persist, ROE’s to struggle - Buying closed blocks of life business remains a focus for reinsurers - Saudi Arabia – Medical Insurance Crisis - UAE – Ras Al Khaimah Bank Acquires 79% of RAK Insurance - Insurers 'will disappear' amid tech revolution, warns Generali boss - Bank of Russia backs idea to set up state-controlled reinsurer - Swiss Re says no plans to enter direct insurance in India - UAE – Claims Companies Sidestep the Law and Provide Health Insurance - Reinsurance prices to stabilise, but at structurally lower levels - 54% Drop in Quarterly Investment Profits for UAE Insurers - Florida catastrophe reinsurance protection superior to pre-Andrew - UAE moves towards a smart medical system - Over 60% of UAE residents are overweight or obese - Indonesia - Government seeks to inject capital into new reinsurer - Civil Defense Accuses Saudi Insurers of Being too Lax with Fire Insurance - Big data a possible answer to insurer losses in China - UAE – Insurance Authority issues e-forms for insurers’ financial compliance - Saudi Arabia – Health Insurance Policies Decrease Manipulation - PartnerRe rejects EXOR again, to proceed with vote on AXIS merger - UK’s Regulator Criticizes Claims Handling for SMEs - Brokerslink Signs Partnership with African Insurer Saham - Formation of a Joint Committee to Develop the Insurance Industry in the Gulf States - EU executive calls for review of insurance rules - United Arab Emirates – Health and Dental Insurance - Egypt – Health Self-Insurance Takes Over the Egyptian Market - Egypt – Insurance Awareness…Interest and Education - Further reinsurance price declines, weakening of T&C’s expected: Fitch - Assets of the Arab War Risks Insurance Syndicate Reach USD 182 million - Egypt – Clash between Insurance Companies and Brokers - New reinsurance demand to be exceeded by supply - United Arab Emirates – A Sudden Rise in Motor Comprehensive Insurance Prices - United Arab Emirates – 130,000 People to Benefit from the “Saada” Health Insurance - Property catastrophe reinsurance rates are not so bad - Saudi Arabia – Capital Increase Doesn’t Stop Losses - United Arab Emirates – Takaful Suffers from a Lack of Transparency and Product Differentiation - Completion of the First Phase of the Misr Reinsurance Feasibility Study - The Saudi Health Insurance Market Could Exceed 18 billion Rials this Year - Algeria – Private Companies Lack Culture of Insurance - Reinsurer & investor demand to squeeze returns on riskier layers - Demands for Increasing Capital of KSA Insurance Companies to 1 billion Rials or Consolidation - Majority of re/insurers feel industry is over-capitalised - Morocco adopts draft law regulating Islamic insurance - Private healthcare services to expand across UAE - United Arab Emirates - Medical Fraud Increases Insurance Costs - Sub-prime comparison not fair to catastrophe bonds - United Arab Emirates – Insurance Authority’s Board of Directors Discusses Insurance Issues - Cyber security worries will drive investment - To stand still is to fall behind in reinsurance - Bahrain – A call for floating motor insurance rates - German insurers may struggle to meet capital needs - European Insurers’ Dividend Growth Unlikely - New claims system for Zurich - Reinsurance trends continue, but deterioration slowing - SAMA approves the recommendation of 3rd Saudi Insurance Symposium - Qatar – “Seha” grants insurers one year to comply - Egypt - Weak electronic culture in the insurance market - Reinsurers see rates down about 10% at June 1st renewal - The “Lloyd’s Market” expects growth in the Takaful sector - Exor to consider increasing bid for PartnerRe, reports - U.S. Seeks Dismissal of MetLife Suit Challenging Systemic Designation - The Bahrain Insurance Association completes “2015 insurance day” - Reinsurer returns on equity more realistic at 5.9% - Soft market, third-party capital top reinsurance survey concerns - Increasing re/insurance capacity still matched by demand - Lloyd’s players attractive to Bermudian reinsurance deal seekers - Compulsory health insurance for the Saudi citizen could be negative now - Sultanate of Oman – 10% premium increase last year - United Arab Emirates – Regions outside insurance coverage - In Land of Negative Yields, Even Conservative Insurers Eye Junk Bond - Pensions want direct & efficient access to longevity reinsurance - UK - Watchdog bans life insurance advert - Egypt – Bancassurance realized premiums of EGP 2.5 billion - UAE – Companies seek life insurance - Property cat reinsurance “not as much fun as it was” - Saudi transportation companies unify efforts on insurance - UAE – AED 40 billion investments in insurance sector in 2014 - Qatar – Weak regulation encouraged insurers’ abuse - Lebanon – Zaccar president of the “Insurance Association” - Reinsurance profitability attracts capital, but damages prospects: Fitch - 2.5 million insured Saudis do not have effective coverage - Consolidations loom as UAE takaful firms feel the pinch - 4 Challenges face the Saudi insurance sector - Saudi insurers, what will follow capital increases? - Nepal earthquake increases home insurance demand in India - Catastrophe deals threaten reinsurance sector - Climate change to challenge re/insurers risk management - Jordan: Compulsory insurance price increase an alternative to full liberalization - Kuwait – “Health informatics” to hold insurance conference - Pessimistic re/insurers struggle on low investment returns - Islamic reinsurance moves to displace use of conventional finance - Guy Carpenter Unveils New Digital Strategy - Accidents outside UAE: Dubai Court says no insurance no compensation - Saudi Arabia: The second-fastest growing insurance market in the GCC - IUA welcomes EU/US reinsurance talks - Continued softening ahead for U.S. property risks in 2015 - Pressure on reinsurance margins to continue: Munich Re CEO - Indonesia Re to keep ceded premiums local - Reinsurance down but not out - Alternative capital continues to test reinsurance market - Willis offers €550m for Gras Savoye - Banks channel 40% of insurance premiums in UAE - Reinsurance returns challenged if capital inflows continue - Saudi Arabia - Medical insurance game runs over patients’ pain - Should Berkshire Hathaway be designated systemically important? - Guy Carpenter to focus on catastrophe risk for governments - USA - Insurer reserve releases set to slow as prices fall - Munich Re and Hewlett-Packard cooperate on cyber security
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To Brexit or Not to Brexit

Too much has been said lately about the Brexit and the consequences that will follow on to the UK financial markets. Given that the capital London is the 2nd largest city in European Union and the 4th largest city in Europe and is considered as a global financial center. Naturally,

Brexit will be a top issue in a country historically known as center of excellence for insurance and reinsurance including its famous Lloyd’s market,

which is the world’s specialist insurance and reinsurance market with more than 50 leading insurance companies and over 200 registered Lloyd’s brokers. In general, UK is regarded as well as the first largest market in term of long term savings in the world and the largest in the EU. In 2014, UK insurers contributed to around 213 billion pounds to GDP whilst employing 334,000 in the industry. This effectively constitutes an essential part to the UK’s economic strength knowing that investments reached around 1.9 trillion pounds in the same period.

 A historical glimpse of the UK-EU membership, going back to 1975 and two years only after joining the EU, UK held a referendum in June to gauge support for the country’s continued membership in the EU. The majority voted “yes” with around 67% of the votes agreeing to maintain partnership. 41 years later,

the winds of change reversed the previous referendum with the June referendum 2016 voting for the UK’S independence from the EU with 52% of the population,

majority age 40s and above, agreeing to the withdrawal. Withdrawal negotiations will start once the UK files a written notice to the committee and invokes accordingly the Article 50 of the Lisbon Treaty.

 The Brexit and its implication on insurance is a long story.

The British divorce from the EU could have an influence on the UK’s economy and specifically its insurance sector as London could be facing a potentially damaging test:

 “Can its ability to attract international talent and wealth survive a hard Brexit.” The major reason is that UK would see itself losing the single market membership that each member of the EU enjoys and which removes the sale and service barriers between the countries.

 There are some major benefits of being part of the EU, the substantial one is to allow the UK insurers to write business in EU member states, a total of 28 countries, without local capital regulatory requirements. Thus, allowing access to a single market through what is referred to as past-porting rights.

The relevance of a pass porting system in the insurance sector means that the underwriters are able to conduct business throughout the EU while being regulated and supervised by the Prudential Authority

(PRA), which is the UK financial regulator.

 Underwriters accordingly are not required to localize funds or to report to any local regulators in any state member they are operating in.

However, if Brexit does indeed happen, the UK insurers may have to make changes to their group structures to be able to have a presence in both the UK and the European Economic Area.

They will have therefore to set up subsidiaries in the EEA and vice versa.

 Another major benefit, would be the encouragement of foreign investments considering that London’s financial services industry is an attractive destination for global investment capital, most of which originating from outside the UK and especially from EU. The UK has been a preferred option for investment for many reasons: namely UK’s legal system, central location and the English language for business affairs. Another importance reason for attracting capital is particularly the access to a single market.

Moreover, the London insurance marketplace enjoys the benefits from the treaties and trade agreements that the EU had negotiated since its formation with countries around the world,

to date. There have been deals with 55 countries and the EU is planning to complete deals with another 87 countries. The consequences of making such deals is to open up countries and to allow as well foreign insurers to operate within the trading partner countries.

In view of the Brexit vote, the UK and Europe are now entering a period of great uncertainty.

As discussed previously, the major impact of cutting ties with the EU will oblige the insurance firms to open EU branches to be able to write business in their respective territories and this will undoubtedly result in significant resource and cost issues. Another major impact would be on regulation as the EU drives that regulatory environment and not being part of the EU will give more discretion to domestic authorities. For example, the UK could opt to pursue Solvency II and the risk would be within the UK only with no regulatory influence whatsoever on or from the EU.

On the contrary, some would argue that the withdrawal of the UK from EU could let the country be a more attractive destination for business. A prime example is Switzerland which is a financially stable country and not a member of the EU.

UK could be as well liberated from the Solvency II stringent requirement which will eliminate excess costs.

 It should be mentioned however that the status of London as a global insurance leader is at risk following Brexit. According to John Nelson, the boss of Lloyd’s of London and the Chairman of the specialist insurance market “The company will quit the city if it is not given guarantees about its access European markets, and added that the group wants more clarity from the government about what assurances ministers will seek during Brexit negotiations”.

At the moment, insurance firms trading at Lloyd’s can sell to the rest of the single market without restrictions,

however Nelson said, “if this were no longer the case, or even if the arrangement was subject to a prolonged period of uncertainty, the market would have to consider “contingency plans” and won’t be Lloyd’s losing out, it will be the UK, he warned”. On the other hand, the French Insurance Association insisted the European authorities to take a hard line with the UK during the withdrawal negotiations and has requested the European Insurance and Occupational Pensions Authority (EIOPA) to move to Paris after the process is finished. Bernard Spitz, president of France’s insurer association FFA, stated that” European negotiators should make sure British insurers will not gain a competitive advantage by opting out of European regulations and that some are engaged into maintaining the attractiveness of the city of London. But that is not acceptable for Europe’s insurance or reinsurance sectors.”
Therefore, the Brexit could result in lost business for the London insurance and reinsurance market unless the government negotiated a continuity of pass porting rights and formulated various options to minimize its impact. During such negotiations, the UK should agree on what would be the post Brexit relationship.

 There are three realistic potential relationships between UK and EU post withdrawal: either the Norwegian Model, or the Swiss Model and the Free Trade Agreement.

For the first model, known as well as the EEA membership, there is a full access to the single market as a member of the EEA. For example, Norway is obliged to implement all single market rules however does not have any influence over them. Norway is requested to accept the free movement of persons and is required to contribute towards the EU budget. Secondly, the Swiss Model or Bilateral Agreement, the one adopted by Switzerland, which has around one hundred bilateral agreements with the EU that give access to the single market for goods but not most of the services. Switzerland makes contributions to the EU budget and is subject to the free movement of persons. Finally, the Free Trade Area Arrangement, this option provides for a single bilateral free trade agreement.

 Though the first option could give the UK insurance market the pass porting and access needed to single market it could provide few advantages for the UK, as the EU legislation will bind the UK however the UK would not have any influence on it. As for the second model, if UK would opt this model, it will not automatically have to implement new EU legislation with agreements negotiated case by case. As for the third model if adopted, the UK would no longer have to implement all EU rules and pay into the EU budget however under this model, one single bilateral agreement would not give financial services firms the benefit of the EU passport bearing in mind that the negotiation process is lengthy.

 Despite what has been mentioned above, the Brexit could on the contrary give the UK a greater influence as an independent country making their own parliament and shape their own destiny as a world power. It should be mentioned as well that

the Brexit could influence and lead other EU members to hold their own referendums.

This could be the beginning of the end for the European Project.  
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