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.

Kuwaiti takaful insurance companies to operate in Syria

DAMASCUS, March 14, (KUNA): Several takaful (Islamic insurance) companies, including Kuwaiti companies, will join the Syria insurance market next April, an official source said.

Dubai Group Buys 51% Stake In Kuwaiti Al Fajer Retakaful Insurance Company

Sunday, Dubai Group, the diversified financial company of Dubai Holding, announced that it acquired a 51% controlling stake in Al Fajer Retakaful Insurance Company KSCC, the largest global retakaful company in terms of paid up capital of US$178.5 million.

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.

Global Summit Explores Booming Potential in the Middle East Insurance Markets

The Global Middle East Insurance Summit in London with some 90 delegates from 19 different countries attending turned out to be an event for non-Arabs to learn about the potential and business culture in the Middle East while the Arab insurers had a chance to look closely at how they can exploit the expertise and capital in the London market.

Total Bank Loans Demand in the Middle East Is Expected to Grow at the CAGR of 21.81% During 2007-2011

"Middle East Banking Sector Analysis (2007-2011)” provides extensive research and in-depth analysis of the country-wise banking sector in Middle East, their product, and services. This report will help clients to analyze the leading-edge opportunities critical to the success of the banking Industry in the countries of Middle East. Detailed data and analysis help investors, financial service providers, and global banking players navigate through the evolving banking sector in the Middle East.

Emirates Bank Launches Holiday Travel Insurance

Emirates Bank International launched meTRAVEL, in association with National General Insurance (NGI) National General Insurance (NGI) National General Insurance, one of EBG subsidiary companies. The new travel insurance plan introduced during the UAE peak travel season provides instant cover, at competitive rates and is available to all - not just Emirates customers after completing a simple application form at an Emirates Bank branch.

Kuwait healthcare system in meltdown

An investigation by daily newspaper Kuwait Times has discovered a healthcare system in crisis in the Northern Gulf State.

Reporter Nancy Oteifa discovered that patients and staff are both suffering within healthcare institutions that are not fit for purpose.

Nurses in Kuwait, the majority of which are migrant workers from India, the Philippines and Egypt, said that they were facing abuse from both patients and supervisors. In some cases, Kuwait Times reports, they faced both physical and sexual abuse in the course of their working days.