North Africa
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Morocco earthquake fund covered by parametric solution
A parametric insurance arrangement covering part of Morocco’s National Catastrophic Event Coverage Scheme is expected to be triggered by the…
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IMF calls for heightened risk management in MENAPEG region
Improved risk awareness, planning, management and mitigation can help vulnerable nations in the Middle East, North Africa and Pakistan (MENAPEG)…
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African Risk Capacity launches parametric cover for epidemic risks
African Risk Capacity (ARC), the mutual created by the African Union (AU) to help member states better prepare for and…
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Marsh to take majority stake in Moroccan insurance broker
Marsh is to acquire a majority share in Beassur Marsh, a leading Moroccan insurance broker. Marsh acquired an initial stake…
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Netherlands calls for action on stranded Yemeni supertanker
The Dutch government has called for more urgent action to deal with the environmental threats posed by a decaying supertanker…
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Tsielepis leaves Arch to join IGI as CRO
Bermuda-based specialty insurer and reinsurer, International General Insurance Holdings (IGI), has appointed Stav Tsielepis as chief risk officer of the…
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Protests jump 45% across MENA region driven by Covid-19
The number of protests and riots in the Middle East and north Africa region (MENA) has jumped by 45% in…
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SCR bids to become a major regional player
Moroccan reinsurer Société Centrale de Réassurance (SCR) is planning expansion across Africa, with a new strategy for the next two…
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Africa Specialty Risks launches Bermuda reinsurer
Africa Specialty Risks (ASR), the pan-African reinsurance group, has launched a licensed reinsurance entity in Bermuda. The fast-growing group will…
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Tunisia erupts into political turmoil
Risk managers will be watching with mounting concern as Tunisia’s President has dismissed the Prime Minister, suspended parliament and declared…
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Marsh McLennan reports 20% higher revenue as staff move over from Aon-WTW
Marsh & McLennan reported a nearly 20% jump in revenue during the second quarter as economies continued to reopen after…
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Dutch risk managers focus on container claims as Ever Given finally released
Dutch risk managers focused on the fast-rising risk of containerships in light of the Ever Given catastrophe, during a recent…
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Ever Given finally released after settlement
The UK P&I Club, insurer of the Ever Given containership that catastrophically blocked the Suez canal back in March, has…
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Moroccan business set for rebound
Moroccan international trade is set to rebound this year after being stifled by the coronavirus pandemic, reports Atradius. The latest…
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Commercial rate hikes drive Q1 growth for Zurich
Zurich posted 9% growth in P&C gross written premiums on an adjusted basis to €11bn for Q1 2021, up 14%…
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Reinsurers braced for bulk of Suez Canal accident losses, reports Reuters
The bulk of losses caused by the Ever Given containership that blocked the Suez Canal for nearly a week is…
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Suez Canal blockage presents major lessons for Italian risk community
The beaching of the Ever Given, the cargo ship that ran aground in the Suez Canal, blocking the critical passageway…
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Morocco introduces travel ban on Algeria and Egypt to curb spread of Covid-19
Morocco has suspended all flights to and from Algeria and Egypt, as part of its efforts to curb the spread…
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Egyptian insurance market regulatory oversight improving says Fitch
Regulatory oversight in the Egyptian insurance market is developing with both limited transparency and effectiveness of enforcement, but the market…
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Middle East and north Africa face ‘double whammy’ from Covid and oil price slump
The coronavirus pandemic and related oil price slump constitute a “double whammy” for economies in the Middle East and north…