RENEWED CALLS FOR CONSOLIDATION AT INSUREX
| December 19, 2011 by Bhaskar Raj
Insurex 2011 witnessed renewed calls for consolidation in an increasingly fragmented regional insurance market, going back to the basics of sound underwriting, adopting global best practices, increased focus on training and local involvement, harmonisation of regulation and product innovation.
Hosted at The Address Hotel Dubai Marina, the eighth annual Insurex conference lived up to its reputation [...]
Insurance brands rated lowest in brand simplicity survey
| December 15, 2011 by Bhaskar Raj
Health insurance and general insurance brands were rated among the lowest in a recent brand simplicity index survey indicating that the insurance industry’s complex processes and lack of clarity regarding coverage continue to frustrate consumers.
Health insurance and general insurance industries finished in 20th and 25th place, respectively, a result that was also reflected globally, according [...]
Oman set to allow takaful operators
| November 23, 2011 by Bhaskar Raj
Oman’s insurance industry is about to experience a major shift in direction, with sharia-compliant products, such as takaful, set to be launched onto the market. This is part of a broader programme of reforms that are opening up the financial sector to Islamic insurers and banks, according to an Oxford Business Group report.
It was only [...]
THE MARKET IS SATURATED
| September 28, 2011 by Bhaskar Raj
FareedLutfi, Secretary General of Emirates Insurance Association and GCC Insurance Commission, is one of the most respected and knowledgeable figures in the GCC insurance industry.
He currently serves as President of the Dubai Insurance Group.
His career in international reinsurance and insurance spans 25 years. Before joining the Dubai Group in 1996, FareedLutfi worked at Arab Insurance [...]
THERE’S SUFFICIENT RETAKAFUL CAPACITY
| September 28, 2011 by Bhaskar Raj
TarikAouad, as General Manager at Hannover ReTakaful, has brought rich experience to Bahrain and is playing a pivotal role in the continued business success of the group. Prior to this he was the chief underwriting officer since the company’s establishment five years ago. Before that he was based in Hannover Re’s head office in Hannover, [...]
NOT BROKER, BUT MANAGER
| September 28, 2011 by Bhaskar Raj
Sanjay Kalia entered the insurance arena by accident, a quarter of century ago. But acquired enough skill and experience to lead as managing director one of the top insurance brokerage firms in the UAE, Arya Insurance Brokerage Company, to success with ethical practices.
Policy spoke to Sanjay at a time when brokerage segment is in the [...]
Daman survey highlights need for UAE health initiatives
| September 28, 2011 by Bhaskar Raj
As part of its ongoing commitment to the UAE’s health and wellbeing, the National Health Insurance Company (Daman) has announced the completion of a nationwide survey project it has commissioned earlier this year to identify the lifestyle habits and healthiness of UAE residents. Ipsos, a third party International research company, conducted the survey.
The study [...]
ARAG launches UK’s first divorce insurance product
| September 7, 2011 by Bhaskar Raj
Following the successful release with solicitor firms Mishcon de Reya and Prolegal, ARAG is launching two new divorce insurance products – Pre-nuptial Legal Solutions and Divorce Legal Solutions – to the rest of the market, specifically targeting law firms doing nuptial agreements.
As the first of their kind to hit the UK market, these products provide [...]
NEEDED MORE INNOVATION, NEW IDEAS
| July 6, 2011 by Bhaskar Raj
Ralph J Kabban, Managing Director, United Insurance Brokers
United Insurance Brokers (UIB), an independent, international insurance and reinsurance Lloyd’s of London broker with headquarters in London, is on a relaunch mode in the UAE and the one who is chosen to lead the mission is Ralph J. Kabban as Managing Director.
DOUBLE DIGIT GROWTH ENTIRELY POSSIBLE
| July 6, 2011 by Bhaskar Raj
Maroun Mourad,
CEO, Zurich Middle East, General Insurance
Maroun Mourad was appointed CEO of the General Insurance business for Zurich in the Middle East in January this year. He is leading the launch of key growth initiatives for Zurich in the retail Commercial and Personal segments and will be working closely with the Global Corporate team to [...]
