Arab Reinsurance Company: a new dimension
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South Korea pledges to bring blockchain voting into people’s homes - Asian Development Bank completes 1st blockchain transaction - KSA - Over 360,000 covid19-affected persons benefit from program - China – Artificial Intelligence principles released to protect children - South Korea pledges to bring blockchain voting into people’s homes - Asian Development Bank completes 1st blockchain transaction - KSA - Over 360,000 covid19-affected persons benefit from program - China – Artificial Intelligence principles released to protect children - KSA - SAMA approves event cancellation ins. Products - Egypt - Mohandes Life Ins. premiums fall 13% in FY2020 - Asia sees first regional recession in 60 years - German economic recovery to continue in H2 - KSA – Najm ins. wins an award for its successful campaign - Bahrain - BNI launches insurance cover for Covid-19 - Arab Monetary Fund extends $1.3bn aid to Arab countries in H1 - UAE - ADIB partners with Finance Ministry to offer eDirham cards - Damana: Digital transformation will drive competitive motor ins. Premiums - Sharjah Social Security Fund to cover occupational risks - Egypt’s CIS, Agricultural Bank inks loan ins. cover deal - KSA - Al-Ahlia Ins. issues timeline for merger with Gulf Union - Moody’s: Reinsurance prices expected to rise in 2021 - Woman jailed for cutting off hand for ins. Payout - UK economy extends recovery from COVID crash - China - New rules to tighten control over financial holdings - Lloyd's says coronavirus claims could reach £5 billion - European Central Bank projects 8% recession this year - German Economy will shrink by 6% in 2020 - China - Consumption move to spur spending - Egypt - Metlico capital to rise to EGP 100 m - Egypt - Authority for Reconstruction Projects launches fire ins. Tender - Egypt - Mohandes Ins. proposes EGP 0.50/shr dividend for FY19/20 - Eurozone Q2 GDP down 11.8% - Saudi Shura Council calls for health ins. for private sector retirees - KSA - Report on Covid19 impact on ins. Sector - Emirates Ins. Association: Travel ins. is compulsory for some destinations - Egyptian Takaful Ins. assets likely to grow to EGP 2.7 bn by June-end - Oman - CMA Directs insurers to extend coverage beyond 70 years - UAE - Methaq Ins. denies the acquisition of Ishraq - Algeria to launch Islamic insurance - French economy to bounce back as lockdown lifted - Abu Dhabi’s Etihad Airways announces covid19 insurance - Egypt Kuwait Holding ups stake in Delta Ins. - KSA - Tawuniya Ins. gives its customers the opportunity to earn miles - UAE - Daman and Microsoft collaborate to fight COVID-19 - The Ajman Chamber calls members to benefit from Awafi - Oman – OR 170 million direct health insurance - KSA – The Ins. Sector achieved record profits in Q2 - Dubai – The profits of insurers increased to AED 559.7 in H1 - University of Dubai publishes e-Credentials of graduates - Google offers to help with the ethics of Artificial Intelligence - 16% of Saudi institutions consider Artificial Intelligence a priority - KSA - Global AI Summit to Be Held on October 7 - Egypt - Mohandes Insurance’s profit edges up in FY19/20 initial results - KSA - Gulf Union issues circular for merger with Al-Ahlia - UAE - Salama's board recommends 3% dividends for H1-20 - Euro zone recovery lost momentum in August - UAE - Launching a platform to exchange securities for digital cash - Egypt – 3.1 million beneficiaries from microfinance - Britain, Thai SEC agree to financial services partnership - Dubai ranks first in Arab region in medical tourism - KSA - Wafa Ins. posts 148% higher losses in Q2 - KSA - Bupa raises stake in Bupa Arabia to 43.25% - UAE - Decision on health ins. in the Ajman government - UAE – AED 134 m “Corona” claims were paid by insurers - Islamic Arab Ins. sells 4.5 m shares in Saudi-listed Salama - KSA - GlobeMed announces TPA deal with Enaya ins. - Egypt - Delta Ins. indicators show 35% profit growth in FY19/20 - A Swiss health insurer now accepts crypto payments - Egyptian ins. premiums 9.6% up in five months - Chinese PICC reports rise in premium income - Egypt’s Delta Ins. eyes EGP 700 m premiums in FY2021 - Oman – 30% foreign investments of insurers allowed - Record profits for Saudi insurers in Q2 - Manama ranked most financially attractive city in the world - Egypt - EFG Hermes acquires majority stakes in Tokio Marine - Canada's economy posts a record 38.7% annualized Q2 contraction - KSA - Salama Cooperative Ins. swings to SAR 29m quarterly profit - KSA - Al-Ahlia gets SAMA nod on renewing license for 3 years - AXA Gulf offers Covid-19 cover for travel policies - Kuwait - Hundreds of clients have to re-insure their vehicles - KSA - Tadawul suspends trading on Salama shares - KSA - MOH: Voting for 2020 «Wa3i» Award to Begin Soon - UAE - Oman Ins. reduces motor claim processing time - Wafa Egypt Assurance gets FRA’s approval - KSA - 4 ministries plan medical ins. for their staff - UAE - Aman denies negotiations on acquisition - KSA - Wafa Ins. unable to disclose H1 2020 financials - KSA - The retention rate of insurers declined to 83% in Q1 - KSA - Aljazira Takaful, Solidarity ink binding merger deal - KSA - SAMA approves first drone ins. Product - CII bolsters Saudi Arabia adviser education programme - UAE - Noor Takaful partners with Ajman Bank for Takaful solutions - KSA - Minister of Health Approves Health Ins. Award - KSA - Amana Ins. swings to SAR 7.2 m profit in H1 - KSA - Najm launches paperless accident service - COVID-19 accelerates digital transformation of Lloyd’s - Saudi Al Ahlia Ins. swings to profits in Q2 - Euro zone economic recovery falters in August - GCC IT spend to reach $20bn by 2024 - WHO: coronavirus pandemic will last less than two years - KSA - Arabia Insurance swings to profits in Q2-20 - KSA - Chubb Arabia net profit rises 16% in H1 2020 - KSA - SAMA presents draft law for health ins. risk pools - KSA - AXA Cooperative Ins. records 15% higher quarterly profits - KSA - SAICO net profit surges to SAR 27.2m in H1 - UAE - Health Ins. Startup Sehteq Raises $20 Million - UAE - SALAMA announces AED11.5 m surplus distribution - Fintech industry is growing in Saudi Arabia - UAE - Watania Takaful posts 136% surge in H1 net profit - Bahrain - Al Ajmi honoured with Prestigious CII Award - UAE - Aman's net profits down in H1-20 - Tunisian economy shrank by 21.6% in Q2 - KSA - SABB Takaful signs ins. deal with Olayan Group - UAE - Awnic launches new digital division - Misr Insurance to activate e-signature - UAE - Vehicle ins. rates decline by up to 30% - Saudi Arabia to host global technology event next year - Malaysia’s economy shrinks most since 1998 Asia crisis - German economy will grow strongly in third-quarter - Re/insurers must evolve alongside cybersecurity landscape - KSA - Alahli Takaful's net profit down 3% in H1 - UAE - SALAMA half-year net profit increases 41.03% - UAE - High demand for "health" and "life" ins. Products - UK economy plunges into deepest recession since records began - China Launches Blockchain-Based Blackout Ins. Policy - Allianz, CIB Egypt sign cyber insurance contract - UAE - Oman Ins. reports net profit of AED110.2 m in H1 2020 - Misr Ins. to cover judges overseeing senate elections - China - Blockchain salaries are exploding - Smart Dubai holds webinar on the resilience of cities - Gap in Artificial Intelligence between advanced and developing economies - Abu Dhabi – Space Artificial Intelligence developed by NYUAD researchers - Lebanon – Insurers are waiting for investigations on explosion - Brazil - Alleged Car Ins. Scam Causes Huge Fire - UAE – An ins. consultant misappropriates UAE 1.1m - Kuwait government urges citizens to acquire travel ins. - Solidarity Bahrain announces profits of BD1.4m in H1 - Egyptian ins. sector’s premiums likely to fall 15% in FY21 - Misr Insurance to cover assets of plastics factory - Egypt requires taxpayers to issue e-invoices in November - KSA – Motor insurance extended for two months - KSA - Walaa Cooperative Ins. turns profitable in Q2-20 - KSA - Walaa Ins. inks SAR 9.5m deal with Advanced Petrochemical - UAE - ADNIC reports AED189.7 million in H1 net profit - Big Tech surges as reports impress in coronavirus downturn - Eurozone GDP plunges by 12.1% in Q2 - Amazon to invest $10 billion in satellite internet - UAE’s Sharjah reports $1.6 bln real estate transactions in H1 - Egypt to develop 1st actuarial life table - Fitch Revises United States' Outlook to Negative - French economy shrank by 13.8% in Q2 - Union of Arab Banks issues digital economy guidelines - Bahrain Kuwait Ins. posts $6.1m net profit in H1 - Egypt’s Misr Takaful to cover assets of paper packaging plant - Cyber policy sales up 340% amid COVID-19 - UAE - Salama to increase foreign ownership limit to 49% - Saudi Enaya launches leading policy intelligence tool - AXA Gulf to offer Covid-19 insurance cover - UAE - Oman Ins. completes 100% acquisition of Dubai Starr Sigorta - S&P: Gulf insurers' capital buffers are strong - Saudi Arabia - 12,842 workplace injuries in 6 months - Oman - BankDhofar offers insurance of up to 10 years for cars - Algerian economy contracts 3.9% in Q1 - Market value of tech giants at $6.5 trillion - UAE - DIFC to woo Chinese fintech firms - Oman – New regulations of health ins. claims management - Lloyd’s gives green light to Covid-19 vaccine ins. - HSBC UAE launches online trading platform for wealth clients - EgyptAir to insure passengers against coronavirus - USA - Tesla is creating a major insurer - UAE launches Young Economist Program - Arab Monetary Fund to discuss the economic recovery - Saudi Arabia ranks 4th globally in terms of 5G connectivity - Egypt – Ins. investments in T-bills fall 11.5% May-end - Eurozone flash composite PMI climbs to 25-month high - Amazon’s unit to offer auto insurance in India - S. Korea’s economy contracts 2.9% in Q2 - China has over 1.3 billion mobile internet users - G20 Highlights Importance of Digital Technology - UAE - Health official calls on volunteers for COVID-19 vaccine trials - Saudi economic July data promising for recovery - Beijing to pilot blockchain for private stock registration - Saudi Arabia to host oracle cloud data regional center - UAE - DIFC witnessing first issuance of digital securities - KSA - Traffic Dept starts issuing traffic violations of motor ins. - Historic European economic recovery plan - Mastercard Accelerates crypto card partner program - China adds a new city to their Fintech Initiative - KSA - Over 240,000 Beneficiaries of «Taakkad» Centers - China Life Ins. sees 13.17% expansion in H1 - Bahrain - Drive-through ins. service launched by BNI - Egypt - Mohandes Insurance's profit up 10% in 9 months - KSA - 99.4% of private firms to benefit from Health Ins. Fund - KSA - SAMA launches app for financial sector customers - UAE - Siraj Holding acquires Al Hilal Takaful - Egypt’s Misr Ins. vying to cover Aida IV ship - Saudi Arabia unveils insurance to protect foreign workers' rights - Saudi startups record 102% jump in venture funding - KSA - Monshaat Launches Intelligence Digital Library - Wide gaps EU leaders must bridge to unlock economic stimulus - China's ins. sector reports premium growth in H1 - China's Q2 GDP grows 3.2%, beats expectations - UNESCO launches initiative on the ethics of artificial intelligence - UAE - H. H. Sh. Hamdan bin Mohammed attends ‘Ai Everything’ conference - KSA - Saudis represent 74% of ins. Employees - UAE – Some insurers raise the brokers commission to 30% - KSA - Alinma Tokio expects higher GWPs on compulsory motor ins. - South Korea to spend Billions on Blockchain Development - Saudi Enaya renews medical ins. deal with Fakih Group - Egyptian ins. companies’ technical losses 54.2% up in Q1 - KSA - Tadawul to launch derivatives market in August - Singapore slumps into recession with 41.2% GDP plunge - AXA Egypt, Star Ins. team up for car ins. - Fawry and AIG Egypt Insurance launch digital policy - Suez Canal Ins.’s net premiums at EGP 1bn in FY20 - UAE - MoF completes phase one of the e-Dirham system transformation - KSA - Customer satisfaction of Health Ins. hits 95% - KSA - 8% Increase in the Ins. Sector In 2019 - Metlico, Egypt Trust team up to activate e-signature - Egypt’s Iskan Ins. eyes $20.3 m premiums in FY2021 - The UAE is the largest Arab ins. market in 2019 - UAE to merge financial regulators - China central bank says economy stable in H1 - UAE ranked 1st in Arab region, 8th globally in Online Services Index - Five Saudi insurers project higher motor ins. Sales - Misr Emirates Takaful Life’s premiums rise 40% in 2020 - Egypt - Techno Lease increases stake in Mohandes Ins. - UAE - Fintech Galaxy launches open innovation platform - Egypt - Life ins. industry in Egypt affected by COVID-19 - gig – Jordan completes installation of HPE Primera - Saudi insurance stocks surge as vehicle checks enforced - KSA - SAMA appreciates the ins. initiative to grant motor discounts - KSA - Penalties for vehicle ins. violations to resume - Egypt - Investments of insurers in T-bills fall reach EGP 31.7 bn - 4 Egyptian insurers vying to cover Port Said Container’s assets - EU sees deeper recession - Egyptian Takaful Ins. to cover South Cairo and Giza Mills’ assets - UAE - Insurance Authority: 15.6% decline in motor premiums - MENA start-ups raise $659mln in H1 2020 - Dubai – DFSA’s 2020 Summer Innovation Testing Licence Program - Orient Ins. defers Saudi market entry until mid-2022 - Oman - CMA cancels license of insurance firm - 3 Egyptian insurers vying to cover Export Development Bank’s assets - Egypt - Aman certificates beneficiaries hit 859,000 - IMF revises down forecast for Asian economy - UK economy shows biggest drop in 40 years - German economy gradually recovering - UAE - FinTech firms invited to an innovation challenge - UAE Insurtech Felix Raises $800,000 in Seed Funding - Saudi Arabia imposes 15% VAT on goods - Egyptian Mohandes Ins. pays $11.8 mln compensation in 9m - Consolidation seen among Saudi Arabian insurers - Dubai's economy shrank by 3.5% in first quarter - Saudi GDP down 1% in Q1-20 - GCC economies expected to shrink by 7.6% this year - 61% of Islamic banks favor buying services from Fintech firms - Misr Insurance to cover refinery using vegetable oils - Bupa Arabia renews cooperative ins. deal with SABIC - KSA - Malath inks deal with Ministry of Housing - UAE - Methaq Takaful accumulated losses near 31% of capital - Egypt - Mohandes Insurance’s premiums grow 5.8% in 9m - Egyptian Authority for Maritime Safety launches ins. tender for Aida IV - Dubai chamber webinar series connects fintech stakeholders - Digital automation key to productivity: Investcorp - Egypt launches first actuarial life table - Egyptian Life Takaful- GIG posts $13.9 mln premiums in 9m - Saudi ins. council launches first package of medical protocols - Oman - Ahli Bank enters into a partnership with Dhofar Ins. - Egypt’s central bank keeps key interest rates on hold - G20 debt relief program draws 41 poor countries - Microsoft highlights the role of Artificial Intelligence - Cairo Amman Bank enhances performance and security - Orient Takaful, National Bank of Egypt deal to facilitate payments - The IMF sees Egyptian economy maintaining 2 %growth in 2021 - IMF downgrades outlook for global economy - Ins. Federation of Egypt: health ins. conference scheduled in September - Union of Arab Ins. Supervisors discusses the impact of coronavirus - French court orders AXA to pay restaurant’s COVID-19 Losses - Does Egypt need to amend travel ins. to cover covid19? - DIFC Academy will boost use of legal technology - Egypt’s regulator approves 4 new products of Sarwa ins. - Misr Insurance cuts stake in Misr Cement - Mastercard buying fintech company for $825 m - Germany to lead the EU toward a green COVID-19 recovery - UAE – Ins. Authority holds a meeting on IFRS17 - Egypt’s bourse launches tender for its medical ins. Policies - Middle East - 82% of banking customers to use fintech - Artificial intelligence eyeglasses - KSA - Salama Cooperative Insurance’s losses up 74% in Q1 - KSA – SAR 12.7 bn the value of market ins. premiums in Q1 - AM Best affirms ratings for Orient Ins. and Orient Takaful Egypt - KSA - Alinma Tokio Marine renews ins. deal with Alinma Bank - FDI flows to Saudi Arabia grow by 6% to $4.6 bln in 2019 - European Central Bank urges quick recovery plan - IMF expects deeper-than-expected contraction in U.S. economy - UK debt is bigger than economy for first time - KSA - Aljazira Takaful posts 80% rise in Q1 2020 net profit - KSA - Amana Cooperative turns to profitability in Q1-20 - Egypt Kuwait Holding acquires stake in Mohandes Ins. - KSA - Tawuniya delivers 21 drive-thru coronavirus testing centres - KSA - Allianz SF shareholders approve capital hike to SAR 600 m - KSA - Gulf General moves to losses in Q1-20 - Egypt’s regulator sees $11.4m revenues from ins. sector in FY2021 - Egypt - Sarwa targets EGP 170 mln premiums in 2020 - GCC – Insurers face pressures - Kuwait’s Aman Takaful renews talks to enter Egyptian market - UAE - National Takaful Co. takes underwriting policies online - KSA - The “Competition” decides to merge Gulf Union with Al Ahlia Ins. - Chinese woman uses 900 flights to get ins. Compensation - Egypt - EFG and GB Auto to purchase of 75% Tokio Marine - US GDP Decline in Q2 Likely 'Most Severe' Ever - German economy to contract more sharply in Q2 - KSA - Allianz SF says assessing impact of COVID-19 measures - Oman - CMA Launches E-service for calculation of Total Loss Compensation - Egypt’s Delta Life paid compensations hit EGP 123 m in 9m - Egyptian Life Takaful- GIG issues 78 collective policies in 9m - 70% of Chinese companies want to spend on blockchain - Saudi Arabia to increase digital technologies in financial sector - UK economy shrinks 20% in April - UAE economic recovery to begin in H2 - KSA - Arabia Ins. turns to profitability in Q1-20 - KSA - Malath Cooperative Ins. Q1 profits down 39% - Compensation paid by Egypt’s insurers 21.4% up in 3m - KSA - Chubb Arabia sees 62% profit plunge in Q1 - Bupa to increase stake in Bupa Arabia to 43.25% - UAE - Financial inclusion covers 85% of adults - Egypt – Ins. companies’ premiums rise 15.6% in Q1 - KSA - MedGulf records 17% increase in Q1 profits - KSA - Gulf Union, Al-Ahlia Ins. ink binding merger deal - AM Best turns negative on GCC insurance markets - UAE's Al Hilal Bank sells Islamic ins. subsidiary to Siraj Holding - Japan - Insurer to turn contract workers into full-time - Egypt - FRA suspends ins. brokerage licensing for 12m - GIG-Egypt wins policy bid for Petrojet’s assets - Egyptian Life Takaful- GIG pays $15.8 m compensation in 9m - USA - 44% of Small Businesses Never Had Insurance - DIFC's reinsurance premiums surge to $2bn in 2019 - Egyptian Cooperative Ins.’s premiums surge 2% in 9m - UAE - Dar Al Takaful to buy Noor Takaful for Dh215m - KSA - Wataniya Ins. incurs SAR 7 mln loss in Q1 2020 - UAE – Ajman chamber to obtain health insurance - IMF agrees on $5.2B for Egypt as virus threatens economy - US economy recovers faster than expected - Malaysia announces $8.2 Billion in Additional Stimulus - KSA - AXA sees 32% higher profits in Q1-20 - KSA - MedGulf to offset SAR 120m accumulated losses - Eurozone economy to shrink 8.7% in 2020 - G20 discusses the Long-Term Vision for the Digital Economy - 3 insurers vying to win bid for Egyptian bourse’s assets - Egyptian Life Takaful-GIG posts premiums up to $29.6m in 9m - Eurozone economy starts to rebound in May - Germany approves a 130 billion euro stimulus package - DIFC companies to benefit from Master Employee Health Ins. - UAE - Daman Launches Free Online Community Workouts - GIG Group & BIBF in strategic partnership for Takaful Textbook - Egyptian Takaful Insurance’s assets rise 25% March-end - Oman - COVID-19 patients to be covered by insurance - Morocco - Atlanta Insurance and Sanad merge - UAE - New DIFC Data Protection Law enacted - Bahrain - New push to help women-led startups - Half of UAE residents rank life ins. as key concern - KSA - Limited effects of the Corona pandemic on the ins. Sector - Egypt - Delta Ins. investments rise to EGP 787.4 m - KSA – Walaa ins. signs agreement with Arab National Bank - Saudi minister underscores G20 role in mitigating virus impact - EU proposes 15 billion euro fund to back strategic firms - Canadian Output plunges 8.2% in Q1 2020 - Italy slips into great recession - UAE - RSA extends motor ins. support to frontline workers - GCC - MetLife Launches Health Talk Show - UAE insurers face moderately low risk from coronavirus - Turkey's economy grows 4.5% in Q1 - USA - Insurers return part of auto premiums - UAE - Salama's profit down to AED 13.6m in Q1-20 - China - $702.2 bn total assets of foreign banks, insurers - Eurozone to shrink between 8% and 12% in 2020 - Saudi Arabia to return to normal by June 21 - Dubai reopens gradually from May 27 amid Covid-19 - Ministers for European affairs discuss de-escalation measures - China introduces new artificial intelligence news anchor - UAE - SALAMA announces AED 13.65 m profit for Q1 2020 - Moody’s affirms Kuwait Insurance Company’s A3 IFS Rating - KSA - Three Indicators drive Positive Outlook for Economy - China abandons setting 2020 GDP target - KSA - SABB Takaful receives approval on 3 ins. Products - KSA - SAMA rejects distribution of AXA proposed cash dividend - Egypt - Wataniya Ins. gets non-life coverage licence - Egypt - Mohandes ins. targets EGP 112.5m profit in FY20/21 - Oman - Al Ahlia Ins. makes insurance purchase simple, easy and safe - Egyptian Takaful to cover Orange Egypt’s assets - AXA and Democrance expand partnership - Dubai National Ins. reports AED 27m profits in Q1-20 - Oman - Insurers record 23,800 traffic accidents in Q1 - KSA - SABB Takaful receives SAMA nod to launch machinery ins. - German economy to shrink by 7.1% this year - Economies prioritising payment digitization better positioned - Saudi ins. spending per capita hits SAR 1,105 in 2019 - KSA – CMA approves the reduction of capital of Allied ins. - Kuwait - AM Best affirms ratings of Al Ahleia Ins.; outlook stable - Global ins. market is well capitalized in the face of COVID-19 - Egypt - Delta Insurance’s profit up 37% in 9M unaudited financials - AXA Green Crescent signs partnership with yallacompare - Solidarity Bahrain launches video medical advice service - Egypt - Wearing face masks obligatory in insurance companies - Saudi Arabia - 27% increase in insurance policies - German economy sinks, but skirts worst of virus fallout - Fitch Revises France's Outlook to Negative - UAE economy ministry launches online tool to address Covid-19 - Oman - MOH clarifies on treatment to expatriate workers - China's ins. sector maintains adequate solvency in Q1 - 9% decline in Dubai Insurance profits during Q1 - UN: COVID-19 to slash global economic output by $8.5 trln - Coronavirus outbreak will cost global ins. sector $203 bn - Bahrain - BNL extends insurance cover - Bahrain - Health Ins. available for Journalists Association Members - Fed warns of prolonged U.S. recession after coronavirus - KSA – Ins. sales significantly impacted by COVID-19 - Oman - 2.2% Decrease in Ins. Premiums in 1st Quarter - Egypt - Orient Takaful wins Credit Agricole EGP2.7bn ins. Policy - UAE is already planning for next viral outbreak - First Takaful completes exit from Turkey’s Neova Sigorta - Egypt - IMF approves $2.77 bn in emergency pandemic aid - Saudi Arabia to raise VAT to 15% to protect the economy - Oman Logistics Centre Leads Digital Transformation - Kuwait – Many companies closed for offering lower car insurance - Italy to introduce 55 bn euro aid package to support economy - China central bank signals measures to support economy - Iraq's economy to shrink by almost 10% in 2020: World Bank - KSA - Extending vehicle ins. for two months without any costs - $323 bn in Arab economic losses due to Covid-19 - Fitch: Jordan will have gradual economic recovery - EU agrees first part of coronavirus economic rescue - Kuwait - Warba Ins. agrees on 2019 dividends, bonus shares - AXA Egypt unveils initiatives to support healthcare workers - KSA – SAMA issues the rules governing bancassurance - UK - Bank of England sees worst economic slump in 300 years - The Arab Economic Council calls for international support - Euro zone set for record recession - IBM announces new cloud and artificial intelligence services - AAOIFI organizes a Virtual Forum titled COVID-19 Implications - KSA - SAICO, Al Rajhi renew insurance contract - UAE - Oman Ins. launches a new home product - UAE's real GDP growth assessed at 1.7% in 2019 - UAE – Artificial Intelligence university’s to start in January 2021 - UAE's Salama shareholders approve increase in foreign ownership limit - KSA - Al Sagr shareholders to vote on board, audit reports on June 1 - Japan set to extend state of emergency until end-May - UAE Central Bank hosts its 4th Board of Directors Meeting for 2020 - UAE – ADNIC ins. reveals $33.3m net profit for Q1, 2020 - Kuwait - Gulf Ins. Group acquires stake in yallacompare - Hong Kong facing threat of worst recession ever - Jordan Sees economy down 3% in 2020 Due to Coronavirus - UAE - Oman Ins. launches an all-inclusive home ins. Product - Ireland - Allianz to issue €30 car insurance refunds - France in recession and Spain sees record GDP decline - Canada's economy is in a recession - German economy to suffer biggest collapse in 50 years - UAE - Aman ins. decides not to distribute dividends for 2019 - Lebanon – Insurance pricing in dollars after May 1st - Egypt - Wataniya Ins. in talks to obtain non-life license - AXA Gulf expands insurance offerings due to Corona - Abu Dhabi’s Hub71 gets in 15 more start-up ventures - KSA - Walaa Ins. announces renewal of its CCHI 3-years license - Dubai National Ins. offers discounts to workers in the “health” and “police” - Saudi CCHI Approves decisions in virtual meeting - Riyadh court approves Wafa’s financial restructuring plan - KSA - ACIG submits capital cut request to CMA - U.S. economy faces historic shock - KSA - Children’s vaccinations through home care insured - Oman - Bank Muscat and AXA join hands to offer Motor Ins. Online - Lebanon – Most insurers adhere to official exchange rate - Turkey Wealth Fund consolidates public ins. Firms - Lebanon - Insurers to hike LBP rates to current market levels - Switzerland faces recession in 2020 due to pandemic - EU heading for 5-10% economic contraction in 2020 - UAE - MoF launches upgraded version of Emirates Gate system - UAE – Ins. discounts of 50% for workers in the first line of defense - China’s Ping An ins. reports Q1 Profit Drop of 42.7% - Egypt - Technolease acquires 10% of Mohandes Ins. for EGP 104.5 m - UAE - Watania's OGM agrees on 6% dividends for 2019 - KSA - Bupa Arabia receives approval for new ins. Products - UAE - AXA GCIC launches fully digital life insurance - Moody's - GCC insurers’ risks increase with coronavirus and low oil prices - Oman - Insurance Premiums Grow 5% to RO 486.5 Million - KSA - Al-Etihad Insurance renews CCHI license for 1 year - UAE – Union ins. provides a free month of car insurance - Moody’s says Egypt’s economy seen growing by 4.4% June-end - KSA - Aljazira Takaful says precautionary measures might affect premiums - KSA- CCHI Launches 1st Phase of Health Ins. Data Collection - Dubai authorities urge employers to maintain health ins. - KSA- 9 FinTech Companies to Operate in Regulatory Sandbox - Egypt - Mohandes Ins.’s investments rise to EGP 796m Egyptian in 2019 - UAE - AM Best Revises Outlooks to Stable for Oman Ins. Company - Economic Slowdown in Tunisia in First Quarter - China’s economy shrinks for first time in 28 years - IMF says global economy may not recover fully even by 2021 - Jordanian insurers in the face of the Corona storm - Egypt - Sarwa Ins. to raise paid-in capital to EGP 100m June-end - Allianz CEO Says Virus Hit Insurers Like ‘Meteorite’ - Tunisia calls for debt relief for developing countries - Saudi Arabia - Discount up to 70% on car insurance - Egypt’s Petrojet negotiates with insurers to cover assets - COVID-19 to weaken US P&C insurers’ premiums - KSA - SABB Takaful says COVID-19 measures might affect premiums - UAE - Oman Ins. fast-tracks AED 100m in payments to medical providers - UAE - AWNIC allocates Dh1m to support healthcare workers - GIG Bahrain Announces 15% Discount for medical practitioners - Bahrain National Holding approves 22% cash dividend payout - KSA - Al Sagr says COVID-19 measures to affect premiums - UAE - Oman Ins. to provide financial relief to motor clients - Egypt - NBE starts selling Ma’ash Bokra insurance policies - USA - Auto Insurers Return Money to Customers during pandemic - The African Development Bank wants your ideas for beating COVID-19 - IMF grants nearly $750m to Tunisia to fight covid19 - IMF: World growth to be 'sharply negative' - Blockchains Still Lack Interoperability for Enterprise Use, WEF Says - Union of Arab Insurance Supervisors discusses COVID-19 - Egypt - Delta Life Assurance eyes paid-in capital increase - UAE - Oman Ins. members staying home get access to doctors - Rating Agencies affirm strong rating of Saudi Arabia - KSA - Al-Etihad Ins. says COVID-19 measures could affect GWP - EU ministers fail to agree on economic rescue plan - Coronavirus: Global tally passes 1.5 million - Robots may become heroes in war against COVID-19 - DHA expands its medicine home delivery service in the UAE - Egypt - Traditional insurers allowed to own takaful companies - Oman – Online insurance purchases jump by 59% - Lebanon - All insurance firms will cover coronavirus patients - UAE - ADNIC contributes AED3m to fight COVID-19 - Gulf insurers’ earnings under threat from coronavirus: S&P - France facing worst recession since 1945 due to virus - 70,000 covid19 deaths in the world and 75% of the victims in Europe - Dubai extends usage of expired health insurances - UAE's Ins. Authority delays new life regulations - KSA - CMA Approves Enaya's Request to Reduce its Capital - Bahrain: COVID-19 Not Covered by Insurance - Saudi Arabia Detects COVID-19 From Skies - Artificial Intelligence Is Helping Fight The COVID-19 Pandemic - World Bank warns coronavirus will increase poverty risk - Abu Dhabi - SEHA launch drive-through screening for Covid-19 - Abu Dhabi's Hub71 marks first year as it adapts to challenges - Dubai International Financial Centre is launching a stimulus initiative - Moody's: Sukuk Issuance Stable at $180 B in 2020 - Algorand launches Blockchain Based COVID-19 Global Survey - Oman - CMA instructs insurers to provide coverage for drivers with expired licenses - Egypt’s FRA launches policies for micro-finance amid coronavirus - World is in a recession thanks to coronavirus: IMF chief - UAE - PayBy launches mobile payment services - KSA - Amana Ins. widens 2019 net loss to SAR 27.7 m - UAE - Insurance House shareholders approve 4% dividends - UAE doctors now available via telehealth platform - Solidarity Bahrain approves 15% cash dividends for 2019 - Egypt - Mohamed Okasha to launch $25 million fintech fund - Lebanon - Insurance firms to cover coronavirus treatment - Egypt - Coronavirus to slash GDP growth target to 5.1% - S&P affirms Saudi Arabia rating at 'A-/A-2' - Bahrain Kuwait Insurance approve 15% Cash dividend - EU leaders to detail further coronavirus aid in 2 weeks - USA - Historic $2.2 trillion coronavirus bill passes House - IMF says coronavirus to hit sub-Saharan Africa's growth hard - Saudi health ins. council launches ‘stay home’ campaign - KSA - TAQEEM, Najm launch electronic system for vehicles - UAE - Daman to cover services related to COVID-19 outside country - UAE - SALAMA Ins. achieves AED 55 million net profit in 2019 - Bahrain - CBB Treasury Bills oversubscribed - Oman - Insurance firms to launch e-services - Goldman Sachs sees 1% drop in global GDP due to coronacrisis - World’s Fastest Supercomputer finds 77 Covid-19 treatments - UAE FinTech platform "Rise" raises over $1 million - China’s Economy Will Show Recovery in Q2 - Artificial intelligence improves China’s earthquake monitoring - Saudi banks should embrace fintech strategies - KSA - Al Sagr swings to SAR 39.9 mln loss in FY19 - Saudi ins. sector expected to reach $12.8 B by 2024 - UAE’s hospitals want insurers to pay up fast - UAE - ADX Decides to Delist ADNIC Converted Shares - Morocco - Covid-19: Insurers adapt to the current situation - Kuwait - New app for motor insurance launched - KSA - Gulf General Cooperative Ins. improves loss by 86.9% - KSA - Arabia Ins. incurs SAR 37.8 mln loss in FY2019 - Misr Life Insurance accepts premium payments electronically - Tunisia: Insurers donate 2 million dinars to Covid-19 - KSA - Buruj recommends withholding cash dividend for FY2019 - Kuwait - Warba Insurance’s earnings soar 50% in 2019 - Saudi Arabia announces SAR 120 B coronavirus precautionary measures - Egypt: Remittances rose 5% to $26.8bln in 2019 - How Dubai is embracing fintech to become a smart city - Zimbabwe’s Central Bank Proposes Regulatory Sandbox For Crypto Firms - Egypt gives extra grace period for ins. premium payment - IATA urges Middle East and Africa to support airlines - U.N. chief says global recession 'a near certainty' - GCC financial sector strong enough to face coronavirus - KSA - Aljazira Takaful net profit rises 19% in FY19 - KSA - Walaa’s FY19 net profit falls by 77% to SAR 23.2 m - Egypt’s FRA: leasing companies can delay loan repayments for 6 months - European Central Bank announces €750bn bond purchase scheme - KSA - SAMA’s private sector financing support program - KSA - Al Alamiya reports 24% profit decline in 2019 - Coronavirus: Non-urgent surgeries postponed in Dubai - KSA - Solidarity narrows net loss to SAR 43.9 mln in 2019 - KSA - Buruj’s net profit declines 79% in FY2019 - KSA - Al-Etihad Ins. board to withhold dividend for 2019 - Kuwait MoI allow car owners to renew ins. without inspection - UAE - ADNIC shareholders approve 30% cash dividends - KSA - Electronic payment is mandatory in early April 2020 - UNESCO to develop ethics for Artificial Intelligence - Moody’s takes rating actions on 7 Omani banks - Two Italian High Schools to Issue Digital Diplomas - KSA - Tawuniya appoints Rania Al Turki as COO - KSA - AXA’s profit hits SAR 108m in 2019 - Allianz Egypt to provide insurance for Castle Development’s projects - WHO describes coronavirus outbreak as pandemic - KSA - Al-Etihad Ins. posts 27% profit drop in FY19 - Kuwait - Al Ahleia Ins. records KWD 10m profit in 2019 - Dubai-based insurtech ‘BuyAnyInsurance.com’ eases purchases - Mohamed bin Zayed University of Artificial Intelligence gets license - KSA- Malath Ins. reports net profit of SAR 18.4 m for 2019 - KSA - AXA Cooperative Ins. proposes 7% dividends for FY19 - Deutsche Bank economist expects German economy to shrink in 2020 - Euro zone economy slowed in fourth-quarter, imports jump - KSA - Bupa gets SAMA nod to renew ins. License - Moody's cuts growth forecasts in G20 countries - UAE Ins. Authority Issues Circular on Coronavirus (COVID-19) - Mastercard: Egypt’s new capital to become an integrated smart city - UAE- Market size from DIFC activities surpasses $700b - UAE – Ins. Authority: The number of companies is relatively large - Jordan - Insurance draft law endorsed - Dubai National Ins. approves 35% cash dividend - Saudi Arabia prepares 25 hospitals to handle coronavirus cases - Saudi Health Council signs agreement with the Gulf Health Council - Ping An ins. launches COVID-19 smart image-reading system - Global growth plunging into downturn over coronavirus - KSA - Tawuniya swings to SAR 402.2 m profit in FY19 - UAE - FNC debates delay of federal health ins. Law - Central Bank of Bahrain to verify compliance by health insurers - Canadian travel insurers stop covering coronavirus trip cancellations - KSA - Al-Etihad Ins. gets SAMA nod to sell travel protect product - UAE - Sharjah Insurance recommends 7% cash dividends - KSA - Walaa Ins. gets SAMA nod to offer protection, saving ins. - SAMA expects new mergers in the Saudi ins. Sector - KSA - Wafa Insurance’s creditors approve financial reorganization - Oman’s mandatory health ins. to be implemented soon - KSA - Aljazira Cap successfully leads Metlife-Walaa merger deal - CMA approves Allianz Saudi Fransi capital hike - KSA - Walaa expects MetLife AIG ANB shares to be delisted - KSA - SAMA issues actuarial regulations for insurance - The UAE insurance sector has good capitalization - UAE - AXA Gulf offers free legal advice for customers - South Korea announces $16.5 billion stimulus package - KSA – 23 thousand new real estate loans in January 2020 - Turkish economy grows 6% in Q4 - Saudi regulator issues licensing guidelines for digital-only banks - Solidarity Bahrain announces profits of BD 2.9 million in 2019 - Saudi Arabia reviews two new digital banking applicants - Kaspersky Debuts Blockchain-Based Voting Machine - Abu Dhabi - FSRA updates its Virtual Asset regulations - Korea Trade Ins. Corp. signs deal with Saudi finance ministry - Malaysia unveils $4.7 billion economic stimulus - KYC blockchain to boost UAE banks' profitability - UAE – Health ministry organizes conference on Artificial Intelligence - Bahrain National Holding registers $13.2mln net profit - Moody's – GCC insurers face big challenges - Bupa Arabia posts 36% profit rise in FY2019 - DIFC reaffirms commitment to advancing fintech - KSA - Wafa ins. postpones vote on financial reorganization - UAE to enrol more Emiratis in financial audit - Saudi Arabia creates ministry for investment - JP Morgan Looking to Merge its Blockchain Unit with a startup - Rising medical cost drains profits of Saudi, UAE insurers - Saudi regulator seeks to raise capital levels for insurers - Possible merger of UAE regulators - MENA’s FinTech Market to reach $2.5 Billion - Kuwait - Gulf Insurance profits rise 12% in 2019 - Dubai Health Authority participates in UAE Innovation Month 2020 - KSA - Creditor objection period on Metlife-Walaa merger to end on Feb. 27 - AM Best stable on Gulf Cooperation Council markets - Italian Startup Bitsa Adds XMR Support to Its Prepaid Card - Saudi GDP growth set to see uptick this year - Sweden is testing its new central bank digital currency - Coronavirus to shave 0.1 points off French economic growth - UAE - RAK Insurance sees AED 3.5m profit in 2019 - Profits of Bahrain Kuwait Ins. decrease by 14% in 2019 - Kuwait Insurance annual profit up 6% - Bahrain’s GFH acquires 70% stake in Dubai fintech Marshal - KSA - SAMA issues the rules governing ins. aggregation activities - The Egyptian Exchange approves Delta Insurance’s capital hike - ADIB bank supports UAE FinTechs with Startupbootcamp session - KSA - Tawuniya renews health ins. with Saudia - KSA - AlAhli Takaful, Chubb Arabia to start merger talks - UAE - Dar Al Takaful in negotiations to acquire Noor Takaful - Jordan - Cabinet gives green light to plan for comprehensive health ins. - UAE - A project to provide compulsory health ins. for visitors - KSA - Launching the first construction warranty ins. Product - Oman - CMA to host Middle East Health Ins. Conference - UAE pledges $500m for digital transformation in Africa - السعودية - نجم لخدمات التأمين تستعرض خططها لأتمتة عملياتها - Muscat Ins. supports Oman Association for Disabled - UAE - Insurance House's net profit increases by 51.9% - Orient Insurance intends to open branches in Saudi Arabia - Kuwait penalizes companies for ‘money laundering’ - Middle East’s Blockchain spending to surge 400% by 2023 - German economy close to recession - UAE announces recovery of two new coronavirus patients - Euro zone GDP slows as expected in fourth-quarter - KSA - GASCO inks health ins. deal with Tawuniya for SAR 20.8 m - S&P expects modest insurance growth in the UAE - South Korea Commits $16M to training Digital Finance Experts - JPMorgan sets deadline for fintechs to sign data access deals - KSA - Bupa renews health ins. license for 3 years - Jordan – Amman will host the World FinTech Forum - Six Out of Top 50 Fintech Companies are in Blockchain - Deloitte Showcases Latest In AI Technology In Dubai - UAE – Profits of ADNIC increased by 20.7% in 2019 - Germany - Damage caused by “Sabine” estimated at 600m Euros - UAE - Emirates Insurance’s net profits up by 23% in 2019 - UAE - SALAMA Posts AED 55 m Net Profit for 2019 - UBS and Zurich ins. launch products for young entrepreneurs - Al Ahlia Ins. wins Oman Insurer of the Year award - Muscat Clearing & Depositing to apply blockchain technology - Kuwait- KFAS organizes robotics' festival - Bank Muscat, AXA tie up to offer Education Savings Plan - AM Best affirms Kuwait Insurance’s rating ‘A-’ - Egypt - Delta Ins. profit jumps 51% in H1-19/20 - Chinese Ins. Firms use Blockchain to process Coronavirus Claims - UAE - Shahada, A Digital Certificate built on Blockchain - Dubai Customs fully prepared for Innovation Month 2020 - Swiss fintech firms venture into Middle East - Bahrain’s Economy to Grow 2.7% - AE insurance company Awnic launches website - Aircraft Maintenance industry to form Blockchain Alliance - Australia to Release National Blockchain Roadmap - Kuwait's First Takaful Ins. to sell stake in Turkish affiliate - KSA - SAMA Proposes the Draft Rules Governing Bancassurance - Majority in UAE say dental care should be mandatory ins. - Dubai Insurance FY19 profits grow to AED 76m - UAE workers to receive free ins. when sending money home - UAE - Oman Ins. sees AED 190.5m net profits in FY19 - Bahrain - AM Best Assigns Credit Ratings to Takaful International Co. - Egypt - Mohandes Ins. net profits up 16% in H1 FY19/20 - Abu Dhabi's Hub71 to have 100 start-up firms by end of 2020 - UAE - Oman Ins. to raise stake in Dubai Starr Sigorta - UAE - WeWork launches first location with Hub71 - Saudi stc pay gets SAMA’s fintech license as e-wallet - FinTech Consortium launches Jordan FinTech Bay - UAE - ADNIC Receives Awards for CSR Contribution - Misr Life launches pension product for NBE’s customers - Kuwait - MoCI to form panel to regulate ins. Business - UAE – Ins. House, Injazat Data Systems to participate in Hassantuk - Eurozone GDP inched up by 0.1% in Q4 - Bahrain Fintech Bay announces new CEO - Bahrain - CBB warns consumers against unlicensed institution - Bahrain Bourse holds Investment Market Workshop - Sharjah Ruler: Comprehensive health ins. for all citizens - Canadian insurer lost nearly US$1M in ransomware attack - Ministry shuts two Kuwaiti insurance companies - UAE ministry of health launches data platform - KSA - Shareholders approve Walaa Cooperative, MetLife merger - Bahrain - Motors Comprehensive insurance policy in force - UAE - Moody’s assigns an A2 IFS rating to Oman Ins. co. - KSA - Wafa Ins. to disclose Q2 2019 financials by May 31 - Smart Dubai announces achievements of Blockchain strategy - Saudi SABB Takaful fined for late disclosure - Saudi Enaya signs ins. agreement with Intl. Medical Center - UAE Ministry of Health unveils AI-based heart monitor - Dubai Health: Ins. coverage includes 99% of the residents - Standard Chartered partners with Bahrain FinTech Bay - Saudi Arabia’s unemployment rates seen healthier in Q4 2019 - Hawkamah and IMF address the Governance of Central Banks - Misr Ins. Holding eyes 10% growth in consolidated net profits - Allianz Egypt to continue growing around the world and in Egypt - Daman leads UAE ins. sector in Emiratisation efforts - Dubai Health Authority launches 3rd Health Accounts report - Securities Regulator of India Bets on Blockchain - Davos 2020 unveils digital currency governance consortium - Artificial Intelligence Art hackathon opens in Riyadh - UK PMI: Economy climbs to 16-month high - Al Ain Ahlia, Aetna International launch health ins. - IMF - World Economic Growth at 3.3% in 2020 - Egypt - Suez Canal Ins. promotes the digital signature - DIFC’s FinTech hive reveals ‘scale up programme’ - Bahraini economy to grow 2.3% in 2020 - Markaz: GCC market outlook 2020 mostly stable - Saudi Arabia – IMF expects 2.2% GDP growth in 2021 - South Korea Considers 20% Crypto Income Tax - UAE - Vehicle insurance covers flood damage - GIG – Kuwait launches new int’l health insurance - Saudi Arabia issues $5 billion of bonds - Global IT spending to reach $ 3.9 trillion in 2020 - Misr Insurance Holding to set up 3 units - Algeria to host the GAIF 2020 - KSA - Solidarity, Aljazira Takaful ink new merger MoU - Chubb Arabia inks ins. deal for Inochem’s calcium project - KSA - Saudi Enaya appoints financial advisor for capital cut - Saudi Registers 54% Increase in New International Firms in 2019 - UAE – DIFC: New mandatory savings plan - Solidarity Bahrain credit rating upgraded - China - First foreign-owned insurance firm - KSA – SAMA stopped two reinsurance brokerage firms - UAE - Al Hilal Bank to sell Takaful to Siraj Holding - US banks post big profits - UAE - Home ins. adoption remains low - UAE - FNC to debate ins. cover for rainwater damage - Gemini launches firm to insure its crypto custody branch - UAE - Blockchain technologies to help conserve over Dh11 billion - KSA - Foreign investments rise 11% in 9M 2019 - UAE authorities sign guiding principles on sustainable finance - AXA Life Egypt declares EGP 126 m in shareholder dividends - Shanghai reveals its fintech action plan - KSA - Amana renews SAR 22.7m health insurance deal - Egypt’s Misr Insurance signs JV to run life takaful unit - Misr Ins. Holding's net profits reach record EGP 4 bln - Jordan- JIF, Palestinian peer sign cooperation agreement - Sharjah announces biggest budget in history of emirate - Bahrain Economy Grows 1.6% in Q3 2019 - Egypt - S&P positive outlook promises new foreign investments - Egypt's real GDP to rise to 5.9% in 2020: World Bank - Bahrain Fintech bay to host open banking conference - MENA startup ecosystem raises $704 million in 2019 - Banque Saudi Fransi '1st local bank' to launch e-signature - Fitch: GCC states have large fiscal buffers - Facebook highlights 2030 vision without Libra - Egypt Post could be about to get into the microfinance game - Tunisia: GDP growth to reach 2.2% in 2020 - Global economic growth: modest pickup to 2.5% in 2020 - Arab Monetary Fund: Euro and USD included in payment platform - Egypt's core inflation accelerates to 2.4% in December - World food prices surge to 5-year high in December - Egypt’s banking bill sent to parliament at long last - Egypt - Misr Ins. Holding to form JV with two biggest state banks - Saudi court approves Wafa Ins.’s financial restructuring plan - Australia – Ins. losses from bushfires increased to $481 million - MENA - Euronet Worldwide will work with Visa - UAE - DIFC Partners with Insurance Industry Leaders - Egypt captures 25% of all startup deals in MENA - UAE - IBM launches 2 data centers for cloud services - Artificial Intelligence Improves Brain Tumor Diagnosis - KSA - Gulf General inks ins. deal with Aljabr Financing - Kuwait commerce ministry takes measures against offending companies - Kuwait - Panel rejects 10% health ins. based on salary - MENA’s ‘Internet of Medical Things’ to reach $9bn by 2022 - Solidarity Bahrain launches new core insurance system - Tokio Marine General Takaful targets 15% annual growth - Bahrain - Forum focus on AI and FinTech - Arabia Ins. gets SAMA nod to renew license for 3 years - China streamlines its Blockchain Patent Application Process - Artificial intelligence improves cancer detection - KSA - Ministry of Hajj says pilgrims enjoy comprehensive ins. - Dubai's expansionary budget to reinvigorate economy - KSA - Wafa says Q1 financials to be delayed until Feb. 29 - KSA - SAMA bans combining ins. and reins. Brokerage - KSA - Walaa Ins. announces details on merger with MetLife - UAE – Ins. Authority: Discounts for drivers of "clean records" - China opens ins. industry to 100% foreign ownership in 2020 - KSA - Approval on Walaa's request to increase capital - UK – Governor of Bank of England warns about climate change - UAE - Non-Arab foreign investment stocks $3.4bln in 2019 - Egypt tops African countries in Venture Capital inv. in 2019 - MENA – 445 million mobile money wallets in 2019 - Egypt - Ministerial committee probes unified insurance bill - Morocco launches free cancer treatment for children - KSA - Public Pension Agency inks MoU with Walaa ins. - 160,000 Belgian Allianz Partners clients affected by data theft - Australia - More than 2 million dropped their health ins. - UAE - One-year medication for patients without full cover - Saudi SAMA nods MetLife AIG ANB, Wala merger - KSA - Gulf Union, Al Ahlia Insurance sign merger MoU - KSA - Alahli Takaful renews SAR 54.7m ins. Contract - KSA - Al Ahlia board calls off proposed capital hike - UAE's Draft electronic insurance regulations - Kuwait - MoCI obliges all insurers to codify documents - Kuwaiti gov’t fails to repay KWD 57.8m for Afya Health – Gulf Ins. - KSA – SAMA calls upon 2 ins. agencies to fix their situations - Saudi Arabia - Personal ID cards ease access to health cover - KSA - Bank Aljazira to hand over ins. portfolio to subsidiary - Egypt Delta Life Assurance’s premiums fall 5% in 3m - Oman's Capital Market Authority issues Takaful Regulation - Saudi health ins. council finds 10 violations - Egypt - Wethaq Takaful Ins.’s net profit 27.3% up in 3m - Egyptian investors acquire stake in Tokio Marine Takaful - KSA - Malath to offer construction guarantee ins. - GIG-Egypt to cover Ahmed Hamdi Tunnel’s engineering works - Egypt - Insurance companies’ premiums 19.7% up in Q3 - Jordan Ins. Federation Launches the 2020 Training Plan - KSA - AXA shareholders approve 11.11% capital climb - Indonesia – criminal charges against former ins. Executives - Saudi health ins. officials issue warning on patients’ rights - Wethaq Takaful Ins.-Egypt’s premiums grow 80% in 3 m - Egypt Mohandes Ins.’s standalone assets 6% up end-Sept. - Dubai Health Authority offers home delivery of medicines - GCC infrastructure spend to boost non-oil GDP - Assets of Saudi investment funds rise 9% in Q3 2019 - Dubai - 2.75% reduction in consumer prices - Unemployment rate in Saudi Arabia drops to 5.5% - China's retail sales up 8% in first 11 months - Oman’s Unified Health Insurance Policy amended - UAE and Egypt to strengthen trade relations - Turkey's sovereign wealth fund to take over insurance firms - Bank Muscat announces $100m fintech program - Consumer optimism in the GCC hits new high - Egypt’s Golden Shield gets insurance brokerage licence - Anthem would Utilize Blockchain to Store Medical Data - Tawuniya secures SAR 115 mln ins. contract with Tahakom - KSA - Wafa Ins. expects to disclose Q2 2019 results by Jan 2020 - USA - Federal auditor renews concerns of Medicare Advantage gaming - Kuwait rated among advanced global health coverage systems - Egypt’s Royal Insurance Oks paid-in capital increase - Egypt’s Raya Holding mulls micro-insurance unit launch in 2020 - Department of Health of Abu Dhabi updates its strategy - Arab Reinsurance Company maintains its B+ rating by A.M. Best - Dubai Future Foundation uses Artificial Intelligence to attract talent - Sharjah HR Directorate organizes artificial intelligence training - KSA – SAMA suspends 4 ins. professional companies - Arab Reinsurance Company maintains its B+ rating by A.M. Best - Shareholders’ equities of Egypt’s insurers decline 7.8% June-end - UAE: Over 8,000 Jobs to be created in the Banking and ins. Industry - Blockchain Makes Money Laundering Risks Greater - Arab Reinsurance Company maintains its B+ rating by A.M. Best - Abu Dhabi orders hospitals: treat emergency patients regardless of ins. - KSA - Hajj Ministry announces insurance for pilgrims - Unifying health insurance programs in Dubai - Arab Reinsurance Company maintains its B+ rating by A.M. Best - UAE - Fichte & Co launches "Maritime Insurance Roundtable" - China to allow 100% foreign life ownership in January - 4 Egyptian insurers vying to win National Air Services’ policy bid - Arab Reinsurance Company maintains its B+ rating by A.M. Best - UAE - Nexus Launches Expat Income Protection Insurance - KSA – Wafa ins. submits proposal of financial restructuring plan - China’s Central Bank Likely to Pilot Digital Currency - Arab Reinsurance Company maintains its B+ rating by A.M. Best - Dubai’s Roads Authority to develop digital vehicle plates - Egypt tops list of states inking financing deals for startups - UAE – Startups to drive a 2.8% real GDP growth in 2019 - China's growth forecast at 6.1% for 2020 - GCC: World Bank expects 2.6% economic growth in 2021 - Researchers say these are 2020's biggest cybersecurity challenges - Ithmaar Bank named fastest growing Islamic Fintech Bank - Egypt - Metlico issues ins. policy for Kharafi National - Egypt - Mohandes Ins.’s board Oks paid-in capital increase - Orient Takaful Egypt eyes boosting investment at end-FY20 - Dubai Silicon Oasis enhances services with Artificial Intelligence - Abu Dhabi – Dept. of Health launches emergency program - KSA - Al Sagr renews medical ins. deal with Maharah - Two Egyptian insurance startups get brokerage licences - Egypt 10-year investments in insurance sector hit EGP 102 B - Egypt’s regulator is putting the final touches on the draft Ins. Act - Goldman Sachs to launch services on Amazon's cloud - Bahrain - NBB becomes first bank to launch Open Banking in Mena - Compensation paid by Egypt’s commercial insurers 15.3% up end-Sept. - KSA - SAPTCO signs SAR 21.5 m medical ins. deal with Tawuniya - SoftBank Releases Debit Cards With Built-In Blockchain Wallet - S&P revises Bahrain’s outlook to positive - Bahrain - Bank ABC launches ila, its digital, mobile-only bank - SABB Takaful signs ins. deal with Saudi British Bank - Free App: Life Insurance, Wills and Family Finance - Arab Federation of Exchanges inks fintech MoU with MFTA - UAE- Arabic version of Zoho Creator to help create applications - Dubai DFSA and Luxembourg's CSSF sign innovation agreement - Cardano Dives Into Crypto Payments - E-payments account for 36% of all Saudi retail deals - Fitch revises Turkey's outlook from negative to stable - KSA - Walaa, MetLife seek GAC’s approval of merger - UAE insurers' profits to stay good in short, medium term - China-Central and Eastern European forum on fintech - Fitch: Start-Ups to drive Egyptian Fintech market - KSA - Bupa Arabia secures ins. deal with NCB - AXA Insurance – Egypt raises paid-in capital to $18.6 m - InsurTech Egypt launches its first hackathon “InsurHack” - Ahli United Bank Egypt launches savings product with Ins. Feature - Najm and Bahrain Ins. Assocation cooperate - Dubai - DIFC to host flagship Future of Finance Conference - Egypt’s Misr Life strikes bancassurance deal with NSB bank - Bitcoin plummets to a 6-month low - Dubai’s economy grows 2.1% as most sectors improve - Wethaq-Egypt’s ins. activity surplus hits $4.3 m in FY2019 - KSA - SAMA directs Salama to meet solvency margin requirements - Saudi Arabia - New digital era through 6 forums at Arabnet 2019 - KPMG in Bahrain to shed light on IFRS 17 - UAE – Ins. premiums rise to AED 57.3 bn in 2024 - GCC ins. market to grow to $36.1bn by 2024 - Oman – New draft ins. policy to help needy borrowers - Morocco to expand financial services with fintech - SAMA orders ACIG to raise statutory deposit - Arab Bank concludes 2nd fintech innovation program - Bahrain Finance Minister confirms regional economic growth - Sony announces the establishment of Artificial Intelligence unit - int@j offers the 1st international IoT certificate in Jordan - Oman’s ‘first’ blockchain trade deal conducted - HSBC, SABB Use Blockchain For Trade In Bahrain, Saudi - UAE to boost global FinTech destination via Finovate - Wethaq Launches First ‘Fintech’ Sukuk - 11 start-ups selected for MENA accelerator program - China-Bahrain venture fund targets Middle East tech market - Saudi Arabia, UAE ink road accident management deal - Egyptian Takaful Insurance’s GWP grow 28.8% y-o-y in Q1-FY20 - GIG- Egypt eyes 10% y-o-y surge in FY2020 premiums - AXA Gulf adopts AWS to enable digital transformation - UAE - 700 ins. certificates for Ajman Free Zone workers - Dubai - Ins. Dispute Settlement Committees start work - MedGulf signs health ins. agreement with Saudi Electricity Co. - FSB MENA group discusses regional financial stability - Google sets its eyes on banking next year - Dubai Chamber: Sub-Saharan Africa GDP to reach $2.4 trillion by 2023 - UAE-Egypt non-oil trade amounts to AED89.5 B - Egypt’s central bank makes 3rd cut to interest rates - UAE – Ins. Authority issues administrative penalty on actuaries - Dubai – DFSA extends MoU with China Banking and Ins. Regulator - UAE - Oman Insurance gains up 65% - MENA - Bahrain ranked 1st by Islamic Finance Develop. Indicator - Egypt - FRA approves Attijariwafa’s ins. unit request to expand - KSA - SAMA updates actuarial regulations for insurance sector - Kuwait- KD 130 Health Ins. for Expats From 2020 - Egypt’s Misr Insurance launches product against electric risks - Bahrain - Health insurance plan on the way for expats - Solidarity Bahrain: BD 607 thousand profit in Q3 - Alibaba’s Ant Financial starts testing of Business Blockchain - Consumer spend in Islamic economy hits US $2.2 trillion - Kuwait Ins. Company: profits at KWD 8.7 m in 9m - UAE - SALAMA reports 15.7% increase in 9m 2019 net profit - Dubai - DFSA participates in Singapore FinTech Festival - Sharjah FDI forum 2019 looks into the future of AI - Allianz Egypt achieves EGP 4bn premiums in 2019 - UAE - ADNIC partners with Addenda Technologies in blockchain - KSA - Bupa Arabia signs cooperation agreement with BIAC - KSA - Malath Cooperative Ins. Q3 profit falls 37% - Dubai - Global Future Councils discuss technology and geopolitics - Hong Kong Unveils New Rules for Cryptocurrency Exchanges - European Union moves to end fossil fuel funding - GCC banks expand globally and digitally - UAE - Yallacompare and Etisalat offer ins. in new partnership - Allianz Egypt to launch new microinsurance product soon - Misr Insurance, Agiba Petroleum renew cover deal - KSA – Artificial Intelligence to contribute 12.4% of GDP - SAMA to Establish Saudi Payments Company - UAE non-oil GDP growth seen at 3% next year: IMF - Bahrain government epayments increase by 29% in Q3 - Bahrain readies for $320 billion Mideast AI boom - GlobeMed conducts a Seminar in Turkey - 83% of UAE businesses expect sales growth next year - SAMA’s first MoU signed with the DFSA - Egypt – Central bank promotes fintech and e-payments - Wethaq Takaful Egypt wins New Beni Suef’s motor ins. Bid - Kuwait - Al-Ahleia Insurance profits down 13% in Q3 - Bahrain - BIBF launches the Region’s 1st MSc in FinTech - 40% Emiratization in the banking sector over the next 3 years - Faisal Islamic Bank buys stake in Egyptian Takaful Ins. - Bahrain - Health Insurance Fund holds board meeting - Bahrain - AFS recognized as best Fintech solutions company - UAE central bank cuts rates by 25 basis points - FinTech cooperation between the UAE and China - bwallet and University of Bahrain collaborate on Fintech - China's listed insurers post steady premium growth in 9 m - IMF: Egypt best-performing economy in MENA - KSA - Bupa reports 32% profit rise in 9M 2019 - "تشب العربية" تتسلم تعميد تغطية مخاطر الأضرار من سبكيم - UAE - Alliance Insurance’s net profit down 7% in 9m - Egypt’s Royal Insurance wins food manufacturing plant’s fire policy - KSA - Malath Cooperative signs ins. agreement with Riyad Bank - GIG – Egypt eyes 10% surge in FY20 investments - China’s Central Bank introduces Certification System for Fintech - Egypt - Mastercard, e-finance join forces to digitalise government payments - UAE - Adnic reports 11.1% profit growth in Q3 2019 - Egypt’s FRA mulls offers for 2 public non-life insurers - UAE - Axa Gulf rolls out insurance for low-income workers - UAE - ADGM’s FinTech Digital Lab Opens for Applications - KSA - Najm upgrades its skills to detect ins. Fraud - Egypt - Compensation paid by ins. up 16.3% in 8 m - Egypt - Takaful premiums jump to EGP 5.4bn in 8M - KSA - SABB Takaful renews 3 policies with SABB - Oman - Capital Market Authority launches health ins. Database - KSA - eXtra receives SAR 24 m ins. claim for store fire - Egypt is the second most active FinTech startup hub in MENA - Fintech Abu Dhabi closes with focus on upscaling initiatives - KSA – Tawuniya wins most innovative ins. Product - Saudi Arabia launches building ins. policy before year-end - Egypt - Insurers vying to cover Ahmed Hamdi Tunnel - Egypt’s Cooperative Ins. Society to cover NGOs clients’ loans - Moody’s affirms Gulf Insurance Group’s A3 IFS Rating - Bahrain: 15% Decline in Car Accident Insurance Claims - Egypt - Mohandes Ins. investments rise 10.4% in FY2018 - Wethaq-Egypt board Oks paid-in capital increase - KSA - Malath inks vehicle ins. deal with Bank Albilad - Saudi GOSI Elected as a Member of Executive Office of ISSA - Moody’s affirms Buruj's Baa2 Rating; changes outlook to stable - Dubai - 5.1 m health insurance policies this year - Moody’s affirms Kuwait Insurance rating, ‘Stable’ Outlook - Egypt - Delta Life Assurance pays $8.2mn compensations in 2019 - UAE - DIFC records 45% annual rise in Islamic assets - “du” and Finance House launch UAE’s 1st blockchain solution - Insurance firms in Bahrain go cashless with TAM Dinar - Abu Dhabi - Department of Health uses artificial intelligence - China to improve agricultural insurance system - Egypt - Mohandes Ins. showed a 12.95% profit growth in 2019 - Islamic Arab Ins. Company to raise foreign ownership limit to 49% - Egypt’s Metlico investments likely to rise to $9.1mn by 2020 - Egypt - Delta Life Assurance’s assets rise to EGP 1.23bn in June 2019 - Ithmaar Bank continues support for Bahrain FinTech Bay - Huge growth potential in Islamic fintech in Malaysia - Saudi Arabia jumps to 36th most competitive economy - Egypt - IMF appreciates economic performance - China announces timetable for full financial sector opening in 2020 - Tawuniya awarded Best Takaful Company for 2019 - Egypt’s central bank to create fintech investment unit - Misr Insurance wins mandate to cover EgyptAir’s assets - Egypt’s CIS, Agricultural Bank renews credit ins. cover deal for loans - Misr Ins. wins Banque du Caire’s fire policy - Dubai - DFSA invites applications for its 2020 innovation 'Winter Cohort' - UAE’s Social Ministry to Grant $16K in Blockchain Contest - World Bank sees Egypt economy growing 5.8% in 2020 - KSA - SR100,000 maximum health ins. benefit for tourists - KSA - Aljazira Takaful inks two deals with Bank Aljazira - Dubai - DIFC Receives FinX FinTech Hub of the Year Award - Abu Dhabi Department of Health partners with “Plug and Play” - UAE - DHA adopts CPT Code set to enhance standardised medical reporting - Oman - CMA issues Mandatory Health Ins. Regulations - Egypt – Ins. market GWP to reach EGP 29 billion this year - KSA - Foreign investors hiked stakes in 58 listed firms - KSA - Competition, accumulated losses push insurance firm out - GIG Bahrain announced as sponsors of "insurance night" - Abu Dhabi issues $10.0 billion multi-tranche bonds - National Bank of Fujairah partners with Fintech Galaxy - Samsung, UAE’s Finablr launch cross-border payments app in US - Blockchain firm Blocko launched in UAE - UAE - Kaspersky offers new Service for Blockchain Projects - Moody’s assigns Aa2 rating to Abu Dhabi’s $10 bln triple-tranche bond - Saudi CMA approves AXA’s SAR 50m capital raise - UAE - S&P affirms RAK Insurance’s ratings at BBB+ - Egypt - Delta Ins. assets rise to EGP 805 m by June-end - Egypt - Metlico assets climb to EGP 173.5 m by end of June - Egypt – EGP 50 Bn in premiums to the ins. sector by 2020 - UAE healthcare expenditure to top US$3.6 billion by 2030 - 2 men fined Dh150,000 for 'faking' a UAE road accident - Central Bank of Bahrain wins key Fintech award - Egypt’s Suez Canal Life Ins. FY2019 premiums rise 45.18% - AI has potential to contribute $182 billion to UAE’s GDP by 2035 - KSA - Al Alamiya signs insurance contract with Panda - UK Fintech Rapyd Raises $100 Million - Egypt - Delta Ins. hikes authorised capital to EGP 500 m - Faisal Islamic Bank to buy Banque Misr’s stake in Egyptian Takaful Ins. - KSA - Walaa, MetLife AIG ANB ink binding merger deal - KSA - Walaa Cooperative Ins. Company affirms S&P’s rating - Egyptian Takaful Ins. eyes 29.5% growth in assets by June 2020 - Misr Emirates Takaful Life FY2019 investments rise to $7.1mn - UAE Cabinet approves 10 decisions to support Emiratisation - Central Bank of Egypt authorized 28 banks to provide mobile payments - Bahrain's dollar bond issuance hits USD2b - Tourism sector contributes $44.87bln to UAE's GDP in 2018 - Sudan launches 9-month economic rescue plans - China central bank says no plans for big economic stimulus - Egypt - Prudential Financial to invest in Sarwa Life Ins. - KSA - Buruj plans 10% dividend for FY 2018 - Hub71 attracts UK and MENA Startups to UAE - Egypt’s central bank cuts interest rates 1% - Morocco, Egypt Sign Cooperation Deal in Insurance Field - 95% of citizens in Oman get free universal health coverage - Egyptian Takaful Insurance’s assets rise 37% June-end - 4 insurers vying to cover Egypt NBE bank’s Islamic branch clients - UAE - Police bust ins. fraud gang in Umm Al Quwain - KSA - Najm launches awareness initiatives - Marsh Pilots Blockchain-Powered Ins. Placement - Bahrain - BIBF launches fintech master’s course - KSA – Ins. staff up 4% to 11,730 in 2018 - Morocco Elected President of Afro-Asian Federation of Ins. - KSA - 6 Forums Towards a New Digital Era - Moody’s forecasts Egypt economic growth of 5-6% in four years - Bahrain – MPs to streamline motor insurance policies - Meethaq signs agreement with Takaful Oman - Egypt - Mohandes Insurance mulls EGP 30m capital raise - Egypt’s Misr Life Ins. eyes $143m group premiums in FY20 - KSA - SAMA: 4 insurers discuss merger - Global Takaful market to reach USD 44 Billion by 2024 - KSA - Malath, Ministry of Housing sign MoU - Allianz Egypt allots $399K to support vulnerable children - KSA - Al Ahlia Insurance approves 23% capital cut - Morgan Stanley: Reinsurers confident of further rate increases - Saudi ins. sector faces M&A pressure, says Moody’s - DIFC Soars to Number Eight amongst Global Financial Powerhouse - Mr. Hussein Mallouk appointed General Manager for Arab Re - Bahrain – Solidarity opens a digital branch - KSA - Najm deploys SAS artificial intelligence to combat fraud - DIFC strengthens partnerships with European hubs - UAE- Sharjah Executive Council issues decision on health ins. - Ins. plan for maids in Bahrain proposed to parliament - Egyptian Takaful Ins. strikes bancassurance deal with United Bank - Mr. Hussein Mallouk appointed General Manager for Arab Re - Egypt’s regulator to hand new Insurance Act to cabinet - Egyptian Takaful Insurance’s net profits rise 61% in FY2018/19 - Egypt’s Misr Ins. Holding to launch life takaful unit mid-2020 - Egypt – Government to introduce divorce insurance - Saudi Arabia - Orient Ins. receives SAMA nod to start operations - Dubai to Host the 2nd Marine Insurance Conference - UAE - Drivers of "clean records" deprived of price cuts - Launch of the First Bahrain Health Regulatory Conference - Average annual loss from catastrophes at USD 92 billion - Dubai - DIFC receives 'Best Financial Innovation Lab' award - Saudi Arabia: Unemployment Declines to 12.3% in Q2 - Lebanon starts transformation process to digital economy - Egyptian Takaful Insurance obtains oil coverage licence - Misr Life Ins. investing EGP 250 m in digital transformation - KIPCO raises stake in Gulf Insurance - Saudi Arabia should increase VAT to 10%: IMF - Bahrain - BDFEX Forum to discuss Health Ins. Project - UAE leads West Asia, North Africa in E-commerce Index 2018 - Ghana's Insurance Penetration Rate Drops to 1% - Abu Dhabi Global Market licenses worlds’ first digital bank - KSA - SAMA releases an update on the compulsory vehicle ins. - Saudi insurance spending per capita hit SAR 1,045 in 2018 - Medical ins., private investment in focus at Oman Health Expo - UAE to participate in 4th Summit of Belt and Road Initiative in Hong Kong - Saudi Cooperative Health Ins. Council visits Health dept. in Abu Dhabi - UAE – Ins. Authority unveils a system to monitor drivers - Egypt - Fawry to launch Ins. Brokerage for micro ins. in early 2020 - Egypt – Ins. industry will rely on Regtech - Egypt - Insurance companies’ investments in T-bills 4% up June-end - DIFC FinTech Hive receives huge response from global participants - Egypt's Fawry eyes UAE deal, Saudi and Kuwaiti markets - Sanlam ins. could invest in Egypt within the next year - China says new digital currency will be similar to Facebook's Libra - Saudi non-oil economy on solid growth trajectory - Bahrain best country for expats - China to cut reserve requirements for banks - Saudi insurers’ merger delays on internal decisions - Egyptian takaful ins. companies’ H1 premiums jump 141.3% - Seven professions may disappear as technology evolves - Abu Dhabi global market publishes guidance on digital securities - Beema Launches UAE's First Pay-per-kilometer Motor Ins. - 63% of UAE residents said to snub home insurance - Bupa Arabia completed the 1st phase purchase of its own shares - Fitch: Global reinsurance outlook is still stable - Egypt’s FRA nods to Delta Insurance’s capital raise procedures - Egyptian Takaful Ins. wins policy bid for Madinet Nasr Housing - ADGM Launches Investor Forum at FinTech Abu Dhabi 2019 - Dubai’s economy to grow 2.4% in 2019 - Oman - New CMA insurance fund - UAE - The Oman Insurance Corporate Challenge 5.0 is back - Misr Life Ins. to serve 4 Egyptian microfinance companies - Hurricane Dorian could cost insurers $25 billion - New Saudi Commission for Data and Artificial Intelligence - Artificial Intelligence can lead to a 12-hour working week - Bahrain - Thinksmart holds Blockchain certifications programme - Tunisia central bank holds interest rate unchanged at 7.75% - Egypt’s Misr Life Ins. eyes 15.5% rise in premiums - Shanghai hosts 2019 World Artificial Intelligence Conference - Dubai Health Authority plans to reduce patient no-shows - World Bank Issued $108 Million Worth Of Blockchain Bonds - Abu Dhabi - ADGM Launches FinTech Awards for MENA - KSA - Tawuniya signs deal with Ministry of Hajj - Egypt - Delta Life Assurance FY2019 direct compensations 30.8% up - Swiss Banks Slow on the Digital Uptake - Oman - Mandatory health ins. in an advanced stage - Solidarity organises internship for Bahraini youth - Saudi Arabia - Bupa Munsha’at to enrich SME sector - Dubai ranked 7th in the world’s top FinTech Locations - UAE - 5 start-ups graduate from Emirates NBD testing ground - Global Fintech Fundraising Fell in First Half of 2019 - Kuwait - 116 measures against money laundering - Dubai Health Authority to enhance long-term care - KSA - Bupa inks health ins. agreement with STC - Wethaq to insure Egypt investment authority’s assets - Egypt - Misr Emirates Takaful Life Ins. FY20 premiums to rise 35.5% - UAE - ADGM admits 4th Reglab cohort - Tunisia’s foreign currency reserves rise to high level in 2 years - Euro insurers switch negative yields for emerging debt - Bahrain - Mumtalakat achieves a first in cloud migration drive - Bahrain's Al Zayani Group launches bWallet payments - Egyptian Mohandes Insurance’s assets reach EGP 997 m by June-end - Google warns about malware found in Android phones - AM Best affirms Gulf Insurance’s “A” rating - Dubai Future Blockchain adopts 3 initiatives - Korea’s Oldest Bank is building a Blockchain-Based Security System - Bahrain - BBK to launch e-remittance on MaxWallet - Kuwait Finance House-Bahrain organizes a blockchain training - Chinese Fintech iPayLinks’ entry to impact the Middle East - Ajman Free Zone signs MoU with Dubai Ins. co. - Bahrain - New regulations for insurance aggregators - Bahrain - Health Ministry granted ‘Accreditation-Diamond’ status - UAE - Aman posts AED 7.5m profits in H1-19 - Egypt’s unemployment rate drops to 7.5% - China’s Digital Currency Is Ready - UAE set to open Artificial Intelligence café - 5.4 Million Tourists Arrived in Morocco in H1 - Egypt 'best' reform story in emerging markets - Apple offers $1 million to detect flaws in iPhones - Unemployment Drops in Morocco to 8.5% - Egypt’s microfinance portfolio registers EGP 21.2bn in Q2 - Egyptian Takaful Insurance to cover oil firm Dapetco’s assets - Egypt - Delta Ins. profit soars 48% in FY18/19 - Apple’s innovative virtual credit card is launched - GCC fiscal reform progress will remain slow: Moody’s - Fitch: GCC Islamic Banks to Continue M&A - Egypt’s inflation slows to a four-year low of 8.7% in July - Egypt aims to attract 12 million tourists in FY 19/20 - Abu Dhabi National Takaful H1 profit rises 35% - Amazon is looking to put Advertising Data on a Blockchain - Facebook’s Libra Moved Bitcoin 3 years ahead - KSA - SABB bank believes blockchain will revolutionize trade - AIG Reports Second Quarter 2019 Results - UAE – Oman ins. co. achieved 75% Net Profit Growth in H1 - Sharjah Insurance logs AED 4.94 m profit in Q2 - Egypt’s Arab Misr Ins. wins policy bid for GASCO assets - Egypt's central bank signs MoU with Dubai financial authority - UAE - DIFC-based Insurtech firm secures new blockchain deal - Kuwait - Gulf Ins. reports KD 8.1 million net profit in H1 - Solidarity Bahrain reports $3.42m H1 profit - Bahrain Fintech Bay partners with US blockchain firm - KSA - Tawuniya’s net profit jumps 45% in H1 2019 - UAE - Union Insurance posts AED 19.6m net profit in H1 - Monetary easing to speed up GCC economic recovery - Egypt receives final $2 bln tranche of IMF loan - Kuwait- 'Online health insurance for Article 20 from Nov' - Egypt - Misr Emirates Takaful Life FY2019 premiums hit $6.4 m - FinTech Abu Dhabi reaches China this week - Emirates Institute for Banking organized 351 programs in 2019 - UAE - ADNIC reports 19.1% growth in net profit in Q2 - Visa puts fintechs on Fast Track to payments innovation - UAE - Hub71 announces 7 new startups - GCC and Egypt economic outlook Hinges on continued reforms - Mastercard Inks Bahrain Blockchain Partnership - ‘Batelco Talks’ session with Bahrain Fintech Bay - Oman - 4.0 Digital Trends Forum “Internet of Things” - Egypt – Insurers invest EGP 42.9 B in treasury bills - Bahrain - CBB receives 65 insurance complaints - Bahrain Crypto Exchange Gets Central Bank License - Three data centres in Bahrain opened by Amazon Web Services - Dubai - DIFC to Launch Blockchain Consortium - Munich Re pegs industry cat losses at $15bn in H1 - Worsening impact from low interest rates - Insurtech investment hits $1.4bn mark in Q2 - Marsh & McLennan’s revenue up 16% to $4.3 billion in Q2 - Egypt - Final draft of unified insurance bill outlined - Egypt’s Banque du Caire invites insurers to cover assets - Euromoney to hold annual conference in Egypt next September - Egypt to consider VAT and income-tax reforms - S&P confirms Stable Outlook for Oman Ins. Company - Middle East – Artificial Intelligence market to reach $530m by 2022 - Dubai ins. profit increases by 50% in H1 - DIFC boosts UAE financial sector development - INJAZ Bahrain concludes Tech Valley programme - Nigerian Deposit Ins. Corporation warns against Crypto Dependency - Egyptian digital payment firm Fawry sets IPO price at EGP 6.46 - Morocco’s economic growth forecast is 3.4% - UAE – Mandatory cover accelerates health ins. Growth - KSA – Tawuniya insures Halliburton, the global energy giant - UAE – Ins. House: comprehensive income of AED 9.20m in H1 - Kuwait- Health ins. for expats to be paid online from Sunday - Misr Ins. wins mandate to cover an oils factory - Bahrain - BKIC net profit surges 22% - Morocco - Atlanta Ins. introduces a new Home Appliance ins. - Egypt’s first EGP 1 bn fintech fund to launch early 2020 - Egypt to set up insurance pool for natural disasters - S&P upgrades SALAMA's rating to BBB - Abu Dhabi Global Market and OneConnect Collaborate on FinTech - Dubai - Global blockchain exhibition during Expo 2020 - UAE – 228 citizens appointed in the ins. sector in 2018 - Kuwait – Climate change tests readiness of ins. Sector - Jordan – Advanced reinsurance course offered next week - UAE Banks Federation to work towards Emiratisation agenda - GIG-Egypt says launching micro-insurance to 130,000 clients - Adnic gets ‘UAE’s top corporate ins. service provider’ tag - Kuwait - S&P affirms Warba Ins. rating at 'BBB' - Misr Ins., two Egypt state lenders in talks for Africa export cover - Dubai Counts on AI, Blockchain to Become Happiest City - UAE - Al Attar seeks to develop algorithms for robots - Jordan leaps upward in Global Cybersecurity Index ranking - Egyptian economy on right track: 5.6% growth in 2018-2019 - USA - Egyptian accused of drowning his children to claim ins. - Japan to lead SWIFT network for cryptocurrency - Nasdaq and the Iraq Stock Exchange sign agreement - IMF lowers Saudi fiscal deficit forecast to 6.5% of GDP this year - Saudi Arabia to see rise in M&A activity in 2019 – KPMG - Lebanese health minister: “60% of cars are not insured” - IMF: Rise of e-banking poised to surpass traditional banking - G7 agrees quick action needed on Facebook's Libra currency - Higher capital rules to bolster GCC ins. Sector - Abu Dhabi - ADGM issues regulations for robo-advisors - MENA startup funding soars 66% in H1 2019 - Etisalat Digital to transform UAE finance with blockchain - UAE - Health ins. premiums of AED 19 billion in 2018 - Egypt - New guidelines for takaful ins. switching to conventional - 500 Startups and Misk launch the MENA Accelerator program - Oman Arab Bank signs pact with IDO Invest. to foster FinTech - Attijariwafa Bank looking to set up ins. arm in Egypt - Oman - Panel reviews progress in health ins. Implementation - KSA - Al Sagr Insurance inks deal with Elite Panorama - PwC Report: Artificial Intelligence will change business - UAE satellite causes largest ever space ins. Loss - KSA - Wafa submits financial restructuring plan - Bahrain ins. market being overtaken by neighbours - Saudi POS urged to use e-payments before August 2020 - Lebanon – Economy minister receives ACAL delegation - Saudi Enaya inks health ins. deal with Soliman Fakeeh Hospital - Baghdad - Jordan-Iraq forum on digital transformation - Minister Afiouni: “Technology is a chance for Lebanon” - UAE - AED 15 B bill to treat the insured in 2018 - Morocco approves law on Sharia-compliant insurance - Telecom Egypt and Banque Misr launch mobile money service - Abu Dhabi Global Market welcomes digital bank applications - Egypt - First board of directors of the policyholders' ins. Fund - Solidarity Saudi Takaful closes marketing deal with Wattad Ins. - Kuwait – Al-Bahar: Financial Institutions need to embrace FinTech - Abu-Ghazaleh Launches Artificial Intelligence Services - Kuwait- Health ins. payment to be accepted online only - Bahrain FinTech Bay to use space technology - Lebanese banks eye digital future - Dubai – DIFC strengthens leadership team with nationals - Misr Ins. Holding’s units to post EGP 4.3bn profit in FY19/20 - Misr Ins., Misr Life Ins. could IPO on Egypt’s bourse by end-2020 - UAE - Investments of the Ins. Sector reached $17.3 B in 2018 - UAE - ADNIC launches WhatsApp Business services - KSA - Moody’s affirms Walaa’s A3 rating - GCC - $841m assets per capita - G20 leaders issue declaration on crypto assets - Egypt - World Bank approves $500m for the social safety net - Euromoney Holds 6th Annual Conference in Jordan - Dubai - DFSA accepts four FinTech firms - Bahrain - Ithmaar Bank invites FinTech firms to explore opportunities - Arab nations get USD 31.2 bln FDI in 2018 - KSA - Gulf General offers health ins. to Al Rashid Trading - Chinese ins. company underwrites $46 B in Africa - UAE - ADNIC converts mandatory convertible bonds to shares - India - Aegon Life to increase digital conversions - UAE’s Orient Ins. eyes new Saudi arm - KSA - Gulf General gets SAMA nod on capital hike - UAE says approves full foreign ownership of firms - Egypt - CBE launches risk ins. company for exports to Africa - KSA - CMA nods to Al Ahlia Insurance’s capital cut - University of Bahrain organizes digital business forum - Abu Dhabi - Hub71 launches competition to attract startups - Dubai - Flexible regulations for prescribed companies - KSA - Tawuniya best ins. company offering e-services - KSA - Solidarity's CEO named as head of ins. Committee - Kuwait mulling increased healthcare fees for visitors - World's central banks tackle technology with innovation hub - KSA – Arab National Bank renews liability policy - More foreign investors eyeing Saudi market - Etisalat and Noor Bank launch eWallet in UAE - UAE economy grows 2.2% in Q1 - Dubai Health Authority to develop Certificate of Need - Egypt - "Global Impact Challenge" competition for startups - S&P Islamic finance industry to grow at 5% - Bahrain – Arab Financial Services gets Benefit Switch certification - Video insurance service first in GCC - Saudi Arabia relaxes ownership limits for foreign investors - Abu Dhabi Global Market launches “FinTech 50” initiative - Kuwaiti banks invest in digital transformation - 181,000 Saudis above 60 had medical ins. last year - GFiN report highlights role of UAE in fintech - Abu Dhabi develops comprehensive oral health policy - Abu Dhabi Government accelerates private sector licences - KSA - Insurance disputes center to resolve auto claims - Egypt announces ins. fees for electric, hybrid vehicles - Rivals ride rising rates as Lloyd's abandons some ship ins. - MENA Fintech Association established - Saudi insurance market to see mergers soon - UAE - Central Bank launches a platform to report suspicious transactions - Central Bank of Iraq establishes Takaful Company - Kuwait parliament to examine insurance bill - KSA - STC launches 5G commercial services - Saudi Tadawul to lure foreign flows on FTSE third phase inclusion - Facebook's new cryptocurrency Libra revealed - Saudi Arabia - 11.3% growth in banking sector profits in 2018 - Emirates Institute for Banking Concludes Fintech Program - KSA - Al-Etihad Insurance approves capital hike - Egyptian fintech startup, Paynas wins prize - Dubai Health to offer early intervention on patients of concern - Egypt’s FRA finalizes new Insurance Act - MetLife’s LumenLab using Blockchain to automate claims - Profits of GCC insurers at $324.27 m in Q1 - Egypt – Central bank launches 1st fintech portal - Saudi insurers Walaa, Metlife AIG ANB consider merger - Afya 2 Kuwaiti retiree health insurance now available - Oman – Al Madina Takaful to empower SMEs - Bahrain among top ecosystems for female start-ups - Egypt – Central Bank of Egypt signs two MoUs on fintech - Allianz closes on acquisition at New York's 30 Hudson Yards - IAIS outlines new 5-year plan to address insurtech - US cyber premiums up 10% to $2.03bn in 2018 - UAE - Car ins. premium drops 9.5% in H1 - China Life ins. co. premiums grow 4.7 pct in Jan-May - Dubai’s hospitals feel pain of ins. Delays - Abu Dhabi - SALT Announces Its Global Thought Leadership Conference - Moody’s expects stronger reinsurance profitability in 2019 - Bahrain’s economy achieves 2.73% Growth in Q1 2019 - S&P turns stable on Lloyd’s - UAE - RSA provides discounts to DEWA customers for home ins. - EgyptAir launches insurance policy tender for assets - Saudi Arabia - Foreign investment more than doubled in 2018 - Egypt - 'Seamless North Africa 2019' to discuss fintech trends - FDI inflows to Bahrain rise 6% to $1.5bln - Bahrain – InsurByte tackles insurtech trends - Saudi Arabia - Malath, ANB extend insurance deal - Citi MENA Fintech Challenge launched - ArabNet Beirut conference celebrates 10 years - Dubai - DIFC issues new insolvency law - Moody’s expecting stronger reinsurance sector profitability in 2019 - UK insurer Legal & General picks Amazon for blockchain deal - Dubai - AREA 2071 hosts 20 global startups worth AED42.2 m - Saudi Arabia - Medical insurance must for family visa extension - UAE - Medical Liability Law will reduce medical errors - Egypt – EGP 18.1 B ins. sector premiums in 4 months - Fintech set to expand in Mideast, Africa, says S&P - FinTech has power to disrupt global finance says IMF’s Lagarde - China mulls raising caps in equity investment for insurers - Fintech Startups in Lebanon: Financing the Future - Health Dubai: AED 20,000 fine for delayed ins. Approval - China's ins. sector runs smoothly with risks controllable - UAE – Need for compulsory fire insurance - Egypt – Agricultural ins. contract to cover natural risks - Egyptian Football Association gets ins. for Africa Cup of Nations - Egypt – Insurers pay 25% of revenues as admin expenses - Aviva to cut 1,800 jobs in expense saving push - Willis Towers Watson unveils new initiatives to fuel growth - Liberalisation in Myanmar a boon to insurers - Global reinsurance pricing not hard, but firming - June 1 rates expected to be up 10% – 30% for loss-affected accounts - Rate increases unlikely to stick without above-average losses - China's pet insurance market sees bright future - State Farm, USAA join forces to test blockchain solution - Saudi central bank grants licences to 14 fintech firms - Mastercard Partners With Bahrain FinTech Bay - SABIC renews long-standing partnership with Bupa Arabia - Burn-Out is a chronic condition according to WHO - Morocco - Marsh in the capital of Beassur - Belgium - 40% increase in the cost of fire and theft ins. - Egypt’s first FinTech accelerator promotes 10 startups - A.M.Best: Jordan ins. market remains highly competitive - Mohandes Ins. targets EGP 110m profit in FY19/20 - KSA - Al Ahlia gets SAMA's nod on 23% capital cut - Irish University to Offer Blockchain Master’s Degree - KSA – SAMA lifts the Ban on Union Cooperative Ins. - Egypt’s FRA wraps up Insurance Act consultations - NBB joins Bahrain Fintech Bay’s talent programme - AIB-Bahrain in bid to boost Islamic digital banking - Bupa Arabia provides health ins. to 299 orphans - Facebook to Roll Out Cryptocurrency in 2020 - Egypt - CBE to ban issuance of cryptocurrency without licenses - UAE economic growth expected at 2% in 2019 - Smart Dubai, DHA use AI to save lives - Alibaba Announces Blockchain Technology Integration - Gulf Capital acquires 70pc stake in Medica - Bahrain Association of Banks to launch sign language dictionary - Insurer First American left 900 m customer files exposed - Oman – Ins. premiums reached OMR 463.5 m in 2018 - UAE – Reinsurance absorbs AED 2.25 B premiums in Q1 - Egypt – EGP 12 monthly ins. premium on electronic cars - GCC bond and sukuk issuance surged by USD 32 billion in Q1 - Saudi fiscal deficit to reach 7 per cent of GDP in 2019 - UAE - Chinese conglomerate considers $ 10 B investment - MENA fund managers increase investments in Egypt - Bahrain - InsurByte Re-imagining Insurance 2019 - Sovereign investors favour unlisted tech - Amazon shareholders reject facial recognition ban - Kuwait - MoCI obliges all insurers to codify documents - Egypt - Regulator to review draft Ins. Act after Eid break - Dubai car rental agency to get Dh115,000 compensation - Bahrain National Holding acquires major stake in Health 360 - Bahrain - BBK launches a management program in fintech - Misr Ins. Holding targets EGP 4.2bn profit in FY19/20 - UAE - Etihad Credit Ins. and Dhaman partner to support growth - Dubai - DFM to organise international investor roadshow in New York - Egypt - Fawry to acquire EME International’s fintech division - UAE - Profits of 28 insurers at AED 591.65 m in Q1 - Egypt – Ins. sector has the highest average wage - Bahrain is among first countries to adopt fintech - Arabnet Beirut celebrates 10 years of technology - UAE - ADNIC partners with FAB through ‘payit’ option - ‘Game of Thrones’ ins. to reimburse fans who can prove spoilers - China allows insurers to use credit derivatives - ECI signs MoU with ADCB to support UAE businesses - Digital: Morocco in force at Vivatech Paris - Bitcoin price crashed by nearly 20% in minutes - Saudi non-oil growth to top 2.9% this year - Dubai – Overseas treatment through prepaid card - Generali posts solid growth and profits in Q1 results - Kuwait - MPs approve insurance law - Gulf Ins. Group announces net profit of KD 3.7m for Q1 2019 - NBB forges ahead with open banking in Bahrain - 2019 General Assembly - Bahrain highlights its plans to target InsurTech - KSA - Al Alamiya inks insurance deal with Riyad Bank - Visa partners with Bahrain FinTech Bay - Fintech is Key to Shaping Sustainable Islamic Finance - USA - Chinese Citizen Indicted in Anthem Hack of 80 Million People - Digital Ins: Aegon Life on-boards eBaoTech - CMA inaugurates health ins. diploma course for Omanis - Kuwait - Al-Roudhan lifts suspension of 3 ins. Companies - UAE: AED 24.4 million as profits for “Dubai Insurance” - UK: RSA sees strong growth opportunity in five industry practices - Moumen Moukhtar, the new President of Misr Insurance Co. - SAR 55 million profit of 13 Saudi insurance companies - Growth outlook lowered for GCC economies this year - Saudi Arabia may relax shares limit for foreign investors - Dubai to switch to 25% autonomous vehicles by 2030 - $1bn Mubadala fund set for big Abu Dhabi launch - Board of Directors of Arab Re: positive results in year 2018 - KSA - CMA Approves the Capital Increase of Walaa ins. - Bahrain - New strategies urged to tackle cybercrime - KSA – SAMA celebrates the graduate of 2nd bath in cybersecurity - GCC Board Directors Institute Launches Director Program - KSA finance ministry announces 30 years Sukuk issuance - Oman – Awareness campaign on health ins. Policy - SoftBank to invest $1bn in fintech firm Wirecard - Bahraini start-ups prospering thanks to Al Waha - Kuwait Finance House wins Fintech award - Samsung Developing its own Blockchain system - UAE - Mubadala was Awarded Anti-Bribery ISO certification - Saudi Arabia - 20 boxes in the Bold investment initiative - UAE - DIFC FinTech Hive launches career mentorship program - Kuwait - Six insurance companies suspended - First Bahrain Insurance Hackathon - Digital transformation of Middle East financial services is accelerating - KSA - Tawuniya to obtain qualitative leap in health practice - KSA - SAMA nods to Arabia Insurance’s capital raise - Saudi Arabia launches $3 bln package to support private sector - Etihad Credit ins. teams up with Sharjah Chamber - Development of driverless vehicle blockchain tech with IoT Firm - China - Blockchain-Enabled Notary Opens Office - South Korea - Hospital to create Blockchain Data Management - Sharjah Ins. to pay 7 fils/shr dividends for FY18 - UAE - Insurance House issues perpetual bonds - Egypt bourse unveils new insurance policy tender - Bahrain Kuwait Ins.: Profit at BD794,000 in Q1 - Arab Federation of Exchanges conference tackles SMEs - Dubai's economic growth will accelerate in 2019 and 2020 - World Bank to invest $200 million in Egyptian startups - Chile – New Cryptocurrency & Fintech Regulations - 60% of organizations trapped in a digital deadlock - Bahrain - SADAD launches Save Your Card Feature in Mobile App - Fintech: China's Wonder News opens $50m office in Bahrain - Abu Dhabi National Ins. Customer Service Excellence Recognised - 99% of UAE execs say innovation has accelerated - 94 Emiratis complete Artificial Intelligence program in UK - UAE ranks 6th in health and wellness index - Central Bank of Bahrain issues draft rules on Ins. Aggregators - Kuwait - Regulator tightens control over insurance sector - China Life insurance premiums grow over 11% - Bahrain set to host InsurByte conference in June - Misr Ins. to cover judges overseeing constitutional referendum - UAE adopts National Artificial Intelligence Strategy 2031 - World Bank: $25B for digital transformation in Africa - Telegram’s TON Partners with Wirecard to develop fintech - The Reserve Bank of India excludes cryptocurrency projects - Smart Dubai and Microsoft to accelerate digital transformation - Kuwait - Wethaq Ins. receives $6.48m from real estate fund - 2,000 tycoons move to UAE in 2018 - Saudi Arabia ranks second in global investment destination list - Report Shows Major Security Holes in Banking Apps - Kuwait - Regulator might suspend up to 12 insurers - KSA - Financial Sector Conference fulfills 2030 Vision - Misr Ins. posts $318.7 mln premiums in H1-FY2018/19 - Dubai – Global leaders to meet at Artificial Intelligence Summit - UAE Takaful Companies Catching Up with Conventional Peers - KSA - 3.2m Saudis, 8.1m expats enjoy health ins. - Oman – Regulator adopts XBRL for financials of listed firms - Bahrain launches fintech talent programme - Bahrain - Cigna Life Ins. receives a License from regulator - Saudi financial conference to attract hundreds of experts - ‘Bone-breaking’ ins. fraud gang busted in Italy - Jordan- Aqaba conference on marine ins. kicks off - Oman- Health insurance leading the market - Kuwait - Rising health insurance premiums - Egypt's insurance firms see boost in capital - Egypt: IFC launches support program for fintechs - Mashreq bank joins Startupbootcamp FinTech Dubai - China lays down national standards for ins. Industry - Lebanon - Calls for cooperation to enhance cybersecurity - Egypt to launch 8 investment areas, free zones in 2018 - Bahrain - Royal Decree Stipulates formation of Health Ins. Fund - Kuwait – Premiums of Wethaq Takaful grow by 16% in 2018 - IMF’s Lagarde says fintech will shake the system - Calls to establish digital economy body at Arab League - Oman - New health ins. initiative for house helps - Egypt - New health ins. provides coverage for all citizens - Saudi Arabia – Significant decrease in ins. profits in 2018 - DIFC launches roadmap for fintechs entering MEA - AAOIFI appoints new Secretary General - Egypt - AXA signs bancassurance deal with Ahli United Bank - GCC FinTech maturing and driving innovation - Bitcoin hits milestone with its 400,000,000th transaction - Saudi Arabia - 47% of vehicle ins. fraud due to damage mismatches - Abu Dhabi Dept. of Health: Health facilities to provide bills - Dubai - Seamless Middle East 2019 to tackle fintech - Egypt - Insurers pay EGP 2.5 B compensation in 2 months - UAE - 40% off on treatments not covered by insurance - Kuwait- MoH to form panel over 'amendment' of health Ins. - Blockchain Ins. Initiative B3i Expands Its Group of Investors - What UAE people claim for the most on travel ins. - UAE first country regionally in fintech - 100 Arab Start-ups Shaping the 4th Industrial Revolution - World Bank: Vision 2030 Diversified Saudi Income Sources - Investments to UAE expected to rise by 20% in 2019 - Mideast ‘biggest target’ of cybercrime - Lebanon – Oil and Gas summit emphasizes insurance role - MENA - Cyber threats beyond traditional attacks - Fintech Cairo: Fostering Innovation in Financial Inclusion - Moody’s: Takaful demand spurs higher premiums - Kuwait - Health Ins. fees from Jan 2020 to be KD 130 - Bahrain - FinTech Hackathon for Sustainability - Smart Dubai Office endorses du’s Blockchain Platform - UAE – Future Blockchain Summit - UAE - Coursera and INSEAD launch Blockchain Specialization - Dubai - DIFC FinTech Hive accepts applications - Ajman government to enact 'Smart Payment System' - UAE - Takaful premiums reached AED 3.7 billion in 2018 - GCC - Car ins. prices continue to decline in 2019 - Solidarity Bahrain launches the first Ins. Hackathon - UAE - SALAMA Islamic Arab ins. co. reports strong growth - 16 Saudi ins. firms log millions in losses in 2018 - UAE - Community contributions of 21 insurers at AED 2.95 million - Oman - Details of mandatory health ins. Revealed - Gulf Insurance to distribute 36% of par value as dividend - UK Insurers pay £1 M each day for vehicle thefts - UK - AM Best: negative outlook for 2019 non-life ins. - UAE - Among world's top 10 most positive on economy - Lebanon – Government targets transition to a digital economy - Saudi Arabia - Foreign entrants to boost ins. Market - KSA - Najm plays key role in developing ins. Technologically - China - Joint Venture to develop pension ins. - Two Bahraini women join top 100 fintech list
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KSA - Buruj’s net profit declines 79% in FY2019

Monday, 03 16 2020, Category: Insurance and Reinsurance, Country: Saudi Arabia
Buruj Cooperative Insurance Co. reported a net profit before Zakat of SAR 15.2 million for the fiscal year 2019, a drop of 79% year-on-year (YoY), as compared to SAR 72.4 million a year earlier.

The decline was attributed to a 67.8% drop in net underwriting surplus, a 21.1% decrease in net earned premiums and a rise in net incurred claims by 4.3%, the company said in a bourse statement.

The insurer also cited a decrease in policy issuance fees by 95.2% and an increase in premium deficiency reserves by 328.8%.

Gross written premiums (GWP) stood at SAR 305.5 million, down by 4.5% YoY, while net incurred claims increased by 4.2% YoY to SAR 193 million in FY19.

In Q4 2019, the insurer's net profit declined 43% YoY to reach SAR 4.56 million.

On the other hand, the provision of doubtful debts improved by SAR 4.8 million compared to a provision record of SAR 3.6 million in FY2018.

Additionally, the total combined investment income for insurance and shareholders operations increased by 49.4%.


Source: Argaam.com
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