Middle East
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Arthur J. Gallagher takes shareholding in MENA specialist ACE
Arthur J. Gallagher & Co has agreed to a strategic partnership with MIG Holding Ltd (MIG Group). As part of…
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Chaucer appoints political risks and credit underwriter in Singapore
Specialty (re)insurance group Chaucer has appointed Jaime Taylor as class underwriter in the political risks and credit team of its…
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Best maintains negative outlook on Gulf Cooperation Council markets
Covid-19-driven uncertainty and the risk that further oil price volatility will maintain economic pressure across the region, together with concerns…
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Global political risk outlook ‘bleak’ as pandemic fallout drives instability, finds Verisk index
Some 88 of 130 countries are likely to see a spike in political risk by 2023, with the global outlook…
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IRM urges risk managers to focus on value of ERM for resilience
Commercial Risk Europe – UK editor Nicholas Pratt speaks to Carolyn Williams, director of corporate relations at the Institute of…
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US-China tensions should top corporate risk radars in 2021, warns Verisk Maplecroft
High geopolitical tensions are at risk of using corporates as collateral, warns a new report from intelligence firm Verisk Maplecroft,…
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GCC sees growing interest in captives
There is growing interest in captives in the Gulf Cooperation Council (GCC) region, according to a webinar held by AM…
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Vermont reports major growth in new captive formations in 2020
Vermont licensed 38 new captive insurance companies in 2020, including 11 new captives in the fourth quarter, according to the…
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Insurance rates increase for Red Sea vessels: Reuters
Attacks against commercial ships in the Red Sea are driving drive higher prices for insurance cover, according to a Reuters…
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Isle of Man-based Wilton to acquire IOMA Group
Isle of Man-based Wilton has agreed terms to acquire Isle of Man Assurance Limited, IOMA Horizons Limited and Isle of…
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NAIC adopts supervisory analytical tool and elects new officers
The US National Association of Insurance Commissioners (NAIC) has adopted an analytical tool to enable US solvency regulators to conduct…
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AXA to sell Gulf insurance operations for €225m
AXA is selling its insurance operations in the Gulf region to Gulf Insurance Group (GIG) for €225m in cash. The…
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Growing level of receivables pressures profitability for GCC insurers
Insurers in the Gulf Cooperation Council (GCC) countries are exposed to substantial levels of receivables, and are exposed to a…
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Bahrain’s fragmented insurance market faces challenges, says Best
The solvency levels of Bahraini insurers are expected to be negatively impacted by Covid-19-driven financial market volatility, according to AM…
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Challenges for Saudi insurance market despite fall in claims, says Moody’s
Saudi Arabia's insurance industry faces numerous challenges, according to Moody's Investors Service, despite benefiting from reduced claims in the first…
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Howden accelerates plan to be credible global alternative for risk managers
Howden, the london-based international specialty broker that is part of the Hyperion Insurance Group and 46% staff-owned, aims to become…
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First quarter growth for Saudi Arabian insurance market
The Saudi Arabian insurance market saw gross written premiums increase by 6.1% in the first quarter of 2020, and the…
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Howden takes another step towards being top independent broker in Europe
Howden, the London-based international specialty broker that is part of the Hyperion Insurance Group and 46% staff-owned, aims to become…
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Changes to insurance-related charges in Saudi Arabia and Spain – TMF Group
There have been a couple of recent changes to insurance-related charges, including VAT, in Saudi Arabia and Spain, that may…
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Best downgrades GCC insurance markets outlook to negative
The economic downturn in the Gulf Cooperation Council (GCC) region, together with the expectation of lower insurance demand following the…