News
S&P revises outlook on five markets
| April 12, 2011 by Bhaskar Raj
Ratings agency Standard & Poor’s has revised its outlooks on five markets. Japan, India and New Zealand have been assigned a negative outlook and China and Malaysia positive.
Most markets in the Asia Pacific are likely to achieve acceptable underwriting performances and maintain good overall capital strength, the agency said in its comprehensive review of both [...]
Gatehouse creates takaful brokerage in London
| April 12, 2011 by Bhaskar Raj
Gatehouse Bank, a wholesale Shariah investment bank in London, has announced a joint venture with Paul Napier, a Lloyd’s Insurance Broker based in London, to form Gatehouse Napier, the world’s first Shariah compliant insurance broker offering premium takaful and retakaful commercial risk solutions in London.
Gatehouse Napier brings the best of talent and expertise from the [...]
Global takaful contributions to touch $12 bn in 2011
| April 12, 2011 by Bhaskar Raj
Islamic insurance contributions worldwide will rise 31 percent to $12 billion in 2011 from $9.15 billion last year, according to a report by Ernst & Young Mena.
The fourth edition of the benchmark report, World Takaful Report 2011: Transforming Operating Performance, released at the World Takaful Conference in Dubai, said that contributions grew globally by 31 [...]
UAE insurance companies asked to provide personal cover for all
| April 5, 2011 by Bhaskar Raj
The UAE Insurance Authority (IA) has directed all insurance companies operating in the UAE to provide health insurance cover for individuals.
The decision of the IA has come in response to the requests of customers who have been refused personal insurance cover by some companies.
The authority confirmed in a circular sent to all companies that “paragraph [...]
Foreign insurance firms in UAE told to publish financial results
| April 5, 2011 by Bhaskar Raj
IA asks foreign insurance firms to publish financial results in local newspapers
Corporate Scorecard – Technically Right
| March 25, 2011 by Bhaskar Raj
Leading players in UAE tighten their hold on market with technical income, triggering a price war, Policy analyses 2010 financial results
Women In Insurance UAE meet
| March 24, 2011 by Bhaskar Raj
Women in Insurance UAE, an association of women insurance professionals, held its first meeting of members in Dubai on March 8 to coincide with International Women’s Day.
The event, sponsored by Zurich Insurance Company (ZIC), attracted executives and professionals from within the sector and throughout the UAE.
Founded in November 2010 by Laura Mellstrom, a solicitor at [...]
Dubai Health Authority inks deal with Green Crescent
| March 24, 2011 by Bhaskar Raj
The Dubai Health Authority (DHA) and Green Crescent Insurance Co have signed a service level agreement making Green Crescent the first insurance company in the country to have direct billing access to the DHA public hospitals and primary health care centres. The agreement provides 110,000 Green Crescent insurance card holders with access to all DHA [...]
Gapcorp in TPA deal with KFH-Bahrain
| March 24, 2011 by Bhaskar Raj
Gapcorp, a leading international and local extended warranty provider, has signed an agreement with Kuwait Finance House – Bahrain (KFH-Bahrain), provider of Islamic commercial and investment banking services, to offer third-party administration and claims handling for extended warranty.
With the agreement, the extended warranty on all vehicles financed by KFH-Bahrain will come with five years and [...]
ADCB and Adnic in strategic alliance
| March 24, 2011 by Bhaskar Raj
Abu Dhabi Commercial Bank (ADCB) has partnered with Abu Dhabi National Insurance Company (Adnic), to provide new technological, internet banking and cash management solutions, which will further enhance Adnic services to its customers. Adnic as a “Reliable Insurer” will offer its innovative bancassurance products to all ADCB’s Commercial customers with affordable insurance solutions.
Under the mutual [...]
