RENEWED CALLS FOR CONSOLIDATION AT INSUREX

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.

Insurers Honoured At Industry Awards

AXA Insurance took the plaudits last night after picking up two accolades at the Middle East Insurance Awards. The global company was named general insurer of the year and medical insurer of the year during an awards dinner at the Westin Hotel in Dubai. Other winners on the night included Daman, which secured the corporate social responsibility prize, Friends Provident (life insurer of the year) and Gulf Re (reinsurer of the year).