Arab Reinsurance Company: a new dimension
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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 - "Interview with Mr. Ronald Chidiac". Middle East Insurance Review - 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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