Insurance News ME

MENA insurance sector must embrace new opportunities

The insurance sector across the MENA region must overcome numerous challenges if it is to realise its potential. The number of insurance companies in the MENA region, about 350 in total, combined with the fragmented nature of the industry also makes it ripe for consolidation - if the regulations permitted it, a panel of speakers said on the third day of the World Insurance Forum (WIF) being held at the DIFC.

WTIC, Adeem in Egypt JV

KUWAIT (Agencies): Wethaq Takaful Insurance Co in partnership with Adeem Involvement Co have finished setting up a Takaful Insurance Company in Egypt with a capital of EGP 60 million, WETHAQ’s stake amounts to 60 percent and Adeem’s amounts to 40 percent.

Egypt: Govt Announces Privatisation Plans

Investment Minister Mahmoud Mohieldin has announced that the Egyptian government will merge three state-owned insurance companies into one entity and form one large insurance company, MISR. National Insurance will remain outside the merger.

American International Group announces regional executive appointments

American International Group (AIG) Inc., the world's leading insurer, has announced a number of regional executive appointments in line with its policy of career development and expansion plans for the region.