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Middle East Insurance: Optimism Tempered By Caution? 17 April 2013 Article by James O’Shea Plans were recently announced to construct the world’s biggest Ferris wheel in Dubai, where the world’s tallest hotel has just opened. The world’s biggest mall announced, trumping the existing biggest, also in Dubai. Looking towards the Qatar World Cup in 2022, [...]

Source: eWeekly Middle East | 07 May 2013 The President of the UAE has issued legislation on the Global Marketplace Abu Dhabi (GMAD) to promote the emirate as a leading global market, developing its economy as well as enhancing the economic environment to attract financial investments and more effectively contribute to international financial services. Under [...]

Source: eDaily | 07 May 2013 Non-life gross premiums grew 8.2% to MYR15.2 billion (US$5.02 billion) last year, overtaking the 7.85% increase to MYR14 billion in 2011. Net premiums grew at a rate of 8.3% to reach MYR10.5 billion, says the General Insurance Association of Malaysia (PIAM). Mr Chua Seck Guan, PIAM Chairman, says there [...]

Source : ibis worldwide The Middle East Takaful Forum (METF 2012) to feature critical discussions that will seek to tackle the profitability challenge for Shari’ah-compliant insurance operators in the region. The global Takaful industry has been experiencing double digit growth rates with the Gulf Cooperation Council (GCC) and Malaysia being the major contributors. Although the [...]

Source: eDaily | 01 May 2013 The government is mulling over implementing a special insurance scheme for civil servants in enforcement positions, in a move that will benefit around 400,000 enforcement personnel if implemented, reports Bernama. The scheme is aimed at motivating enforcement personnel to carry out their duties with more confidence, says Chief Secretary [...]

Source: eDaily | 03 May 2013 A compulsory unemployment insurance scheme for workers in the private sector is in the pipeline, says Malaysia’s Human Resources Minister Dr S Subramaniam. The scheme would cover Malaysians working in all segments, regardless of pay scale. A commission had studied the issue since last year and has submitted its [...]

Source: eDaily | 29 Apr 2013 Insurers have dropped their new premium rates for property cover against flood after the Business Competition Supervisory Commission (KPPU) complained the scheme breached the monopoly law, reports the Jakarta Post. The scheme was introduced by the Association of Indonesian General Insurance Companies (AAUI) in response to the growing demand [...]

April 22, 2013 by Insurance Journal Carriers offering cyber insurance may have seen an increase in demand for their specialty insurance policies over the past year, but more than 60 percent of risk managers surveyed say they still don’t buy the coverage, according to a report from Towers Watson. The annual Risk and Finance Manager [...]

Source: eDaily | 23 Apr 2013 Non-life premiums are expected to grow 6-9% this year from MYR12.41 billion (US$4.1 billion) in 2012, says the Chairman of the General Insurance Association of Malaysia. Malaysia’s Economic Transformation Programme-related projects as well as the healthcare and motor sectors are spurring the non-life sector’s growth, says Mr Chua Seck [...]

Source: eWeekly Takaful | 17 Apr 2013 The takaful sector has been urged to find solutions to issues of profitability and operational efficiency that threatens to dampen the strong growth in the MENA region, said the CEO of the DIFC Authority at the World Takaful Conference on Monday. In his keynote speech, Mr Jeff Singer [...]