Middle East
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Insurer M&A activity hits new low, says Clyde & Co
The insurance carrier M&A landscape saw a new 15-year low for first-half-year activity in 2024 with 103 deals, significantly lower…
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Two more oil tankers attacked in Red Sea
Two more cargo ships have been attacked by Houthi rebels while carrying millions of barrels of oil in the Red…
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War insurance rates surge following Houthis attack in Red Sea
An attack by Houthi rebels on a Greek-flagged oil tanker in the Red Sea has led to a near-doubling of…
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GCC weather-related events in Q2 2024 contained by reinsurance
Listed insurers in the GCC region have registered growth of 8.0% in after-tax profits, according to UAE-based research and consulting…
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Metzger leaves BHSI for Chubb
Chubb has announced the appointment of Leander Metzger as regional executive officer, eastern region, for Continental Europe, Middle East & North Africa.…
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HDI Global launches Dubai operation
HDI Global has received a regulatory license from Dubai Financial Services Authority (DFSA) to open an office in Dubai. The…
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Chubb moves Kelaher to head up Europe, Middle East and North Africa
Chubb has appointed Peter Kelaher as division president of continental Europe, Middle East and North Africa to replace Sara Mitchell,…
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$8.5bn insured losses from non-US nat cats in H1 around average: Cresta
Insured losses from four $1bn-plus international nat cat events in the first half of 2024, excluding the US, are estimated…
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New head of casualty for MENA region at Markel
Jennifer Gebran has been appointed head of casualty for the Middle East and North Africa (MENA) region at Markel, the…
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UK goods worth £3bn at risk from supply chain ‘havoc’ in Red Sea, warns Russell Group
Around £3bn of UK goods are at risk of being delayed over the coming months by ongoing supply chain disruption…
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Insured loss estimate more than triples for UAE floods
Losses from unprecedented rainfall and flooding in the United Arab Emirates in April, which closed Dubai’s airport for three days,…
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Slower growth forecast for UAE’s general insurance industry
The United Arab Emirates (UAE) general insurance industry is expected to grow by 6% in 2024, supported by personal accident…
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Howden and Allianz Trade agree credit and political risk cover for exporters to Saudi Arabia
Howden and Allianz Trade will provide credit and political risk insurance to exporters looking at business opportunities in Saudi Arabia…
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Supply chain disruption driving political risk losses, finds WTW
The majority of multinational companies (76%) suffered a political risk loss in the past year, with supply chain disruption due…
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Shipping losses decline but supply chain disruption grows
Significant improvements in maritime safety have seen annual shipping losses decline by 70% over the past decade, but supply chains…
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Fidelis Partnership opens Abu Dhabi office
The Fidelis Partnership, a privately owned, Bermuda-based managing general underwriter (MGU), has opened an office in Abu Dhabi. The MGU…
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EU naval forces confirm Somali piracy attack in Gulf of Aden
A group of suspected Somali pirates has been detained after firing on an oil tanker in the Gulf of Aden,…
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Many of the biggest-emitting countries most exposed to climate risk: Verisk Maplecroft
Thirteen of the world’s largest carbon emitters are at risk from the severest impacts of climate change if no action…
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WTW increases global cyber facility capacity and widens coverage
WTW has increased the capacity of its global cyber facility by 50% and broadened coverage following feedback from clients. Capacity…
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Intangible asset value higher than tangible but protection gap persists
A new report from Aon finds that only 19% of intangible asset value is insured among nearly 2,500 organisations worldwide,…