Insurance News ME

Salama plans expansion

The Islamic Arab Insurance Company Salama plans to expand its investment portfolio to 25 Shariah-compliant funds by the end of 2008.

Aviva to focus on bancassurance tie-ups

The top UK life insurer hopes to enter new markets in Asia including Indonesia, Vietnam, Thailand and the Middle Eastern countries this year.

World's largest Islamic reinsurance company set up in Dubai

Dubai Group, the financial services unit of the government-owned investment company Dubai Holding, has launched the world's largest Islamic reinsurance company with a paid-up capital of one billion dirhams (272.48 million U.S. dollars), local newspaper Gulf News reported on Sunday.

SALAMA Launches the Most Comprehensive Family Takaful Products

SALAMA Islamic Arab Insurance Company, the world’s largest Takaful and Re-Takaful group, launched its new comprehensive yet affordable range of Individual Family Takaful products in the UAE market. To suit every need and requirement, SALAMA developed a wide range of savings, protection and saving-cum-protection plans for individuals and families.

Gulf Re targets high-value energy projects

Gulf Re, a newly formed joint venture between the Bermuda-based Arch Capital Group and Gulf Investment Corporation (GIC), is set to offer dedicated reinsurance services for GCC mega projects in oil, gas, power and water desalination.

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.

Health insurance on the upswing in UAE

Dubai: Health insurance in the UAE is finally witnessing a long-awaited growth spurt thanks to landmark legislative changes.

Emirates Takaful readies IPO, backed by Austria firm

ABU DHABI • Emirates Takaful Insurance, which plans to sell shares to the public for the first time from March 23, will specialise in life and health insurance in partnership with Austria's Uniqa group, the majority shareholding company said yesterday. The IPO will be the UAE's third this year.

Salama makes Dhs150m profits in 2007

Salama (Islamic Arab Insurance Co.), the largest Islamic insurance (takaful and retakaful) operator in the world, has disclosed profits of Dhs150m for 2007.

Takaful titans to speak in Bahrain

Some of the leading figures in the growing takaful industry are to speak at the Takaful 2008 conference to be held in Bahrain next month.