Pacific Prime Dubai Recognized as AIG Growth Partner 2024
Pacific Prime Dubai, a global health insurance broker, risks specialist, and benefits specialist, was awarded the “AIG Growth Partner Award 2024,” highlighting the strength and value this growing office brought to its insurance partners in the Middle Eastern market. The award ceremony took place at Pacific Prime Dubai’s administrative office in Jumeirah Lake Towers, Dubai, UAE, on […]
Emirati Executive Shukri Almheiri Appointed CEO of Al Wathba Insurance
Industry veteran to drive transformation, restructuring, and growth towards AED 2B vision by 2030. Al Wathba National Insurance Company PJSC has appointed Mr. Shukri Salem Musabah Humaid Almheiri as its new Chief Executive Officer. A seasoned Emirati executive with more than 30 years of experience in insurance, investment, and industrial development, Mr. Shukri will now […]
Berkshire Hathaway Specialty Insurance Promotions in the Middle East
Berkshire Hathaway Specialty Insurance (BHSI) today announced that it has promoted Aisling Malone to Deputy Senior Executive Officer and Head of Customer & Broker Engagement, and Joe Saab to Vice President, Head of Executive & Professional Lines, in the Middle East. “These leadership promotions are in line with our ongoing growth and evolution in the […]
Best’s Market Segment Report: AM Best Maintains its Stable Outlook for the Insurance Markets of the Gulf Cooperation Council
AM Best is maintaining its outlook for the insurance markets of the Gulf Cooperation Council (GCC) at stable. In its new Best’s Market Segment Report, “Market Segment Outlook: Gulf Cooperation Council Insurance,” AM Best notes current economic conditions remain resilient to regional geopolitical tensions; albeit should there be an escalation, the GCC could be adversely impacted by […]
Best’s Market Segment Report: Benchmarking MENA Insurers Reveals Positive Trends Despite Regional Challenges
AM Best’s ratings of (re)insurers in the Middle East and North Africa (MENA) have generally trended positively through 2024, despite challenging regional geopolitical conditions. In its new report, “Benchmarking MENA Insurers Reveals Positive Trends Despite Regional Challenges,” AM Best notes that despite a turbulent period of geopolitical instability, (re)insurers in the region have shown their resilience, […]
AM Best Briefing in Dubai to Explore State of MENA Insurance Markets; Panel to Feature CEOs From Leading UAE Insurance Companies
AM Best will host a briefing focused on the insurance markets of the Middle East and North Africa (MENA) on 20 November 2024, at Kempinski Central Avenue in Dubai. At this annual regional market event, senior AM Best analysts and leading executives from the (re)insurance industry will discuss recent developments in the MENA region’s markets and […]
Cigna Healthcare Names Leah Cotterill Middle East and Africa CEO, outside KSA
Cotterill is the first woman to lead an international health insurance company in the UAE. In her new role, she will be responsible for driving strategic growth across the region’s key markets, outside the Kingdom of Saudi Arabia. Cigna Healthcare, the leading global health services company, today announced Leah Cotterill as the new Chief Executive […]
Heart attack, stroke and cancer account for 60% of life insurance claims in the region – Zurich consumer report reveals
Over the last three years, Zurich has paid out more than US$210 million across individual and group life claims. Key highlights: Claims for living benefits surpassed life insurance claims for the first time, amounting to 56% of the total claims, a 6% increase compared to last year, suggesting a growing trend and increased emphasis on […]
Weathering the Storm: Al Wathba Insurance Stands Firm with its Customers
In the wake of unprecedented weather events across the UAE, Al Wathba Insurance emerges as a resilient and customer-centricity insurer, showcasing unparalleled support for its customers during these challenging times. As the volume of claims surged by more than 150% in the aftermath of the weather events, Al Wathba Insurance rose to the occasion, demonstrating […]
Best’s Market Segment Report: AM Best Maintains Stable Outlook on Insurance Markets of Gulf Cooperation Council
AM Best is maintaining its market segment outlook for the insurance markets of the Gulf Cooperation Council (GCC) at stable. In its new Best’s Market Segment Report, “Market Segment Outlook: Gulf Cooperation Council Insurance”, AM Best notes that growth prospects for the insurance sector remain plentiful as new insurable risks enter the market while high […]
Best’s Market Segment Report: Underwriting Conditions for UAE Insurers on Track to Improve Amid IFRS 17 Transition
Measures put in place by the United Arab Emirates (UAE) insurance regulator, the Central Bank of the UAE, during 2023 and in early 2024 should ameliorate the relatively poor performance of personal lines insurance and support premium growth in the country, according to a new report from AM Best. The Best’s Market Segment Report, “Underwriting […]
Pacific Prime Affirmed as the Top Individual Producer of Allianz for Four Consecutive Years
International insurance brokerage Pacific Prime was awarded the Top Individual Producer Award 2024 by Allianz. On the 18th of March, the Allianz team visited Pacific Prime’s office in Dubai to present the award to acknowledge their exceptional performance in offering international health insurance solutions to individual clients worldwide. The award represents an unparalleled level of […]
Al Wathba National Insurance Company Brings New CEO on Board
Abu Dhabi, United Arab Emirates — Al Wathba National Insurance Company (AWNIC) announced a major shift in its leadership, with the appointment of Mr. Frederik Bisbjerg as the new Chief Executive Officer, effective November 13, 2023. Mr. Bisbjerg succeeds Mr. Bassam Chilmeran, who has aptly led the company for over two decades, will take on […]
Now Health International celebrates another service success
Award-winning International Private Medical Insurance (IPMI) provider Now Health International is celebrating its latest customer service success, having won another prestigious award, Customer Service Initiative of the Year, recognising its leadership in this area. In addition to its TrustPilot score reflecting how the company’s members feel about its products and service, Now Health International also […]
Best’s Market Segment Outlook: AM Best Maintains Stable Outlook on Gulf Cooperation Council Insurance Markets
LONDON — AM Best is maintaining its stable market segment outlook for the insurance markets of the Gulf Cooperation Council (GCC) – comprising Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. The maintenance of the stable outlook reflects the GCC insurance market’s solid footing entering 2023; however, the weight of headwinds facing […]
Berkshire Hathaway Specialty Insurance Names Pedro Mairos Global Underwriting Officer, Marine
BOSTON & LONDON — Berkshire Hathaway Specialty Insurance (BHSI) today announced that it has appointed Pedro Mairos as Global Underwriting Officer, Marine. He was previously Head of Marine for the UK & Ireland at BHSI. “Our large global footprint coupled with the substantial growth of our Marine business made now the optimal time to deepen […]
Tata AIA Life Insurance Expands Presence in Dubai
DUBAI, United Arab Emirates — Tata AIA Life Insurance (Tata AIA), one of India’s leading Life Insurance Companies, today announced the opening of its first representative office in Dubai, UAE. The rep office will help Tata AIA assess the needs of the Indian diaspora in the UAE. Currently the company services over 2.3 million consumers […]
Berkshire Hathaway Specialty Insurance Promotes Mohammed Hannoun to Head of Casualty, Middle East
BOSTON & DUBAI, United Arab Emirates — Berkshire Hathaway Specialty Insurance (BHSI) today announced that it has named Mohammed Hannoun Head of Casualty for the Middle East, based in Dubai. “Mohammed has played a pivotal role in building up BHSI’s casualty capabilities in Middle East since we started the Dubai operations in 2018. His extensive […]
UAE Summer Road Accident Patterns – Insurance Claims Data Analysis
Dubai, United Arab Emirates —The UAE summer is in full swing and with it the challenging summer driving conditions. Road users are potentially dehydrated, the roads are marked with tyre debris more than usual, vehicle maintenance is of key importance and the climatic conditions can pose further challenges. Tokio Marine, one of the largest UAE […]
Standard & Poor’s assigns Tawuniya an “A-” rating; outlook “stable”
Riyadh, Saudi Arabia – Standard & Poor’s Global Rating Agency has assigned Tawuniya Insurance Company an “A-” rating and outlook “stable”, which is one of the highest financial ratings amongst the insurance companies in the Kingdom of Saudi Arabia, Middle East, and North African. This rating reflects Tawuniya’s improving financial performance for the last three […]