Middle East
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No-code platform secures another $45m to help drive insurance innovation
INSTANDA, a no-code core insurance platform provider, has closed its latest $45m fundraising led by Toscafund, one of Europe’s leading…
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Ericsson faces SEC investigation in US over 2019 Iraq bribery report
Swedish telco Ericsson is set to face further regulatory scrutiny over bribery allegations, following an announcement from the US Securities…
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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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Businesses face widespread security risk in world’s biggest cities, Verisk index shows
Some 22% of the world’s largest cities are running high or extreme security threats to businesses, according to risk intelligence…
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Inflation will prolong hard P&C market: Moody’s
Credit ratings agency Moody’s said that a period of prolonged inflation driven by the war in Ukraine will force P&C…
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Saudi insurance sector saw premium growth but net loss in 2021
The Saudi insurance sector saw premium growth of 8.4% in 2021, with total gross written premiums (GWP) totalling SAR42.03bn (€10.75bn),…
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Zurich says Ukraine losses ‘immaterial’ as strong rate growth drives premiums
Zurich’s first-quarter P&C revenues rose strongly on the back of continued rate rises, particularly in North America. The group forecasts…
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Crawford restructures leadership team for growth in Europe and Middle East
US claims management firm Crawford & Company has announced a new leadership structure for its Europe and Middle East operations,…
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Marsh expects rate increases to continue moderating as index shows slow down across regions
Insurance rate increases fell across all regions in the first quarter barring Latin America but were highest in the UK…
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Cyber risks biggest threat to directors, finds latest WTW survey
Cyber risks dominate the top five risks facing directors and officers, according to the latest annual survey by WTW and…
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Ericsson faces criminal investigation in Sweden over corruption case
Prosecutors in Sweden have launched a criminal investigation into corruption charges against telecoms giant Ericsson. The case centres on a…
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GCC listed insurers register highest GWP growth rate in three years at 7.6%
Improving economic conditions observed as an accelerated v-shaped recovery in the past year have boosted premium levels in the insurance…
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Atradius reveals most promising emerging markets for 2022
The most promising emerging markets for international trade this year are Uruguay, Ivory Coast, Israel, Qatar and Taiwan, according to…
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Oman Insurance Company’s syndicate gets Lloyd’s approval
Oman Insurance Company (OIC) Syndicate 2880 has received Lloyd’s approval to begin underwriting. Syndicate 2880 was launched under the syndicate-in-a-box…
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Turkey to establish nuclear insurance pool this year
A nuclear insurance pool is to be established in Turkey, in order to provide coverage against the risks faced by…
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Sompo International restructures insurance business for expansion
Sompo International has reorganised its insurance business with a new structure and new regional leaders. It said the strategic reorganisation…
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Gallagher launches new insurance team in Dubai International Finance Centre
Gallagher has launched a new insurance business in the Dubai International Finance Centre (DIFC) with a team of specialty and…
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Major increase in use and scope of transactional risk insurance, says Marsh
The record-breaking merger and acquisition (M&A) environment in 2021 resulted in substantial increases in aggregate limits placed and the number…
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GCC insurance outlook improves to stable as economic recovery kicks in, says Best
The economic recovery in the Gulf Cooperation Council (GCC) region, combined with the demonstrated resilience of insurers’ balance sheets, have…
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Credit and political risk losses doubled in 2021, says WTW
Credit and political risk insurance (CPRI) losses continued to rise in 2021 to $118.5m, more than doubling from the previous…
