Middle East
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January 2, 2024
Fairfax takes majority stake in Kuwait’s Gulf Insurance Group
Fairfax Financial Holdings has completed its $860m acquisition of all of the shares of Kuwait-based Gulf Insurance Group (GIG) under…
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December 21, 2023
Aircraft firms settle with Russian insurer over stranded jets
Leasing firm Dubai Aerospace Enterprise (DAE) has reached a $118m settlement with Aeroflot’s insurer over seven aircraft it had leased…
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December 20, 2023
War risk rates spiral as conflict intensifies in Red Sea
The London marine insurance market has widened the area in the Red Sea it deems as high risk after the…
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December 18, 2023
Supply chain delays as shipping companies pull out of Red Sea trading route
Major shipping companies have suspended operations through a Red Sea strait following the increased threat of attack from Houthi rebels…
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December 15, 2023
Israel-Gaza conflict triggers further event cancellation coverage restrictions
Following the attack on Israel by Hamas on 7 October and the subsequent war in Gaza, insurers are reviewing cancellation…
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December 14, 2023
Climate-related travel risk on the rise: International SOS
The number of travel alerts for employees working overseas triggered by climate-related threats is on the rise, according to security…
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December 8, 2023
Rate hikes drive Maersk to impose surcharge for cargo to Israel
Danish shipping company A P Moller-Maersk will impose an emergency risk surcharge on customers’ cargo to Israel from next year…
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November 30, 2023
Political risk will rise next year for countries in debt crises, warns WTW
Countries carrying high levels of debt are at increased risk of social unrest amid economic fallout next year, with Jordan,…
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November 20, 2023
UK P&I Club appoints EMEA syndicate manager
UK P&I Club has appointed claims expert Angie Hatziefstratiou as syndicate manager for its EMEA 2 region, covering the UK,…
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November 16, 2023
Middle East conflict threatens supply chains and shipping
Companies need to double down on political risk in their supply chains as conflict in the Middle East threatens to…
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November 15, 2023
RSA expands global network team
RSA Insurance has made two hires in its global network team, with the appointments of Melissa Rayner and Christian Garcia…
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November 10, 2023
Insurers in Turkiye expect sharp hikes in premiums in 2024
Much higher increases are expected in insurance premiums in the new year, even as premiums are already rising sharply because…
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November 2, 2023
Latest insurance premium tax rate changes from TMF Group
TMF Group has announced the latest rate changes to insurance premium tax (IPT) and other insurance levies around the world,…
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November 1, 2023
Aviation war rates to rise significantly as tensions mount in Gaza
Commercial airlines can expect ongoing rate hikes of 40% and higher for aviation war coverage at upcoming renewals as the…
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October 30, 2023
Israel will compensate ships for war damage
The Israeli government said it will compensate shipowners for any damage incurred as a result of the war with Hamas.…
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October 27, 2023
War risks no longer covered in Lebanon as Hamas-Israel war spills over
War risks are no longer covered by new insurance policies following the outbreak of conflict between Hamas and Israel as…
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October 11, 2023
Lloyd’s models five-year extreme weather losses at $5trn
Lloyd’s said global economic losses from extreme weather events would total $5trn over a period of five years after it…
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September 19, 2023
MENA reinsurers report double-digit growth and plentiful capacity
Recent market conditions have favoured MENA reinsurers, but operational challenges and deteriorating risk landscapes, particularly for non-oil producing countries, continue…
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August 29, 2023
Saudi Arabia sets out regulations for new insurance authority
The Official Gazette has published the details of the Regulation of the Insurance Authority in Saudi Arabia. The Regulation, approved…
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August 11, 2023
Global insurance M&A drops ‘sharply’ in H1: Clyde & Co
Mergers and acquisitions (M&A) in the global insurance industry dropped “sharply” by 17% in the first half this year to…