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ADNIC approves cash dividend of $69m
The company had posted its highest-ever net profit of $109.1m for 2023.
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Emirates NBD, RSA sign agreement
The bank will distribute RSA Middle East's insurance products. -
DEWA starts online service to encourage use of electric vehicle
The EV Community Hub website covers the latest government strategies, targets, incentives, and relevant regulations for EVs -
Dubai ruler issues law on Local Military Pensions and Social Security Fund
Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum on Wednesday issued a law on Local Military Pensions and Social Security Fund in Dubai, in a move that seeks to support the emirate’s vision in the domain of social security and pensions and ensure the implementation of best practices. An official... -
UAE disburses $2.17bn in insurance expenditure among beneficiaries
UAE’s estimated insurance expenditure reached more than AED8 billion ($2.17 billion) in 2021 an increase of AED499.4 million in comparison to 2020, according to General Pension and Social Security Authority (GPSSA). The total insurance expenditures disbursed to pensioners, beneficiaries (dependents of pensioners) and insured (contributors) affiliated with GPSSA in 2021... -
UAE, New Zealand partner to strengthen trade relations
According to Statistics New Zealand, the total two-way trade between New Zealand and the UAE in 2021 reached AED8.63 billion ($2.35 million). -
DNI inks AECB deal
It will help DNI assess people and companies’ financial position. -
Central Bank of UAE approves creation of 5,000 jobs for Emirati nationals
The Central Bank of UAE has approved the creation of 5,000 new jobs by the end of 2026 for Emirati nationals as part of the Emiratization of managerial positions in the banking and insurance sectors. The jobs will be created in coordination with the Emirates Institute for Banking and Financial... -
The Blockchain Opportunity
Are regional governments ready to adopt blockchain technology to boost business payments, transactions, interbank payments and corporate dealings? -
UAE inks deal to make medications more affordable
The initiative will provide affordable medicines to uninsured and low-income expat patients or those whose insurance does not cover the cost of treatment of several diseases. -
India to list its largest insurer, set to raise $10bn
India is embarking on the blockbuster listing of the country’s largest insurer as part of a wider privatization drive to bolster public coffers drained by the coronavirus pandemic and fund new infrastructure. -
QLM net profit up 8 percent
The insurer reported a growth of 16 percent in underwriting income. -
Gulf insurance set to cross $31bn mark by 2026
The market is expected to grow at an annualized growth rate of 3.2 percent, from $26.5 billion in 2021 to $31.1 billion in 2026. Along with the lifting of Covid-19 restrictions, digitization activities by insurers in the region will boost the expansion plan of the insurance business. -
Growing cyber threat demands a united response
A 2021 report by McAfee estimates the monetary loss from cybercrime globally to be approximately $945 billion. When you add to this the global cost of cybersecurity products, the world is facing an annual loss in excess of $1 trillion, he adds. -
Data cover: GCC sees rise in cyber insurance demand
Compared to Europe and US, cyber insurance is a profitable proposition for GCC firms due to amenable market factors such as low litigation environment. -
CBUAE to start new terms for credit and liquidity facilities
The Central Bank of the UAE will introduce a new set of terms and conditions for its standing credit and liquidity insurance facilities. -
UAE banks saw 80% growth in deposits in 10 years
Deposits at banks in the UAE grew 80 percent to AED1,884 billion ($513 billion) in 2020 from AED1,049 billion ($285.64 billion) in 2010. -
Top 10 weather disasters cost $20bn more than last year: NGO
Each year, UK charity Christian Aid calculates the cost of weather incidents like flooding, fires, and heat waves according to insurance claims. In 2020, it found the world's 10 costliest weather disasters caused $150 billion in damage, making this year's total an increase of 13 percent. -
Many factors shaping global economic outlook: Expert
UBP Senior Portfolio Manager Fares Benouari has predicted that 2022 would see greater exposure to ESG, automation, and fintech in investment strategies. -
ADNIC nine-month profit at $90m
Its profit in the first nine months last year was $77 million. -
Axa insurance Q3 premiums down 7 percent
Q3 net profit down 18 percent from the same period last year. -
Saudi bank inks $100m deal
The agreements are aimed at bolstering Saudi exports. -
SHUAA’s insurance assets grow to $136m
The firm expects the assets to reach $500m within three years. -
QLM’s net profit in Q3 $20.4 million
Gross written premium as of Sept. 30 was QAR 750 million. -
ADQ to buy remaining 20 percent stake of Daman
ADQ has entered into a definitive agreement to acquire the remaining 20 percent equity stake of The National Health Insurance Company – Daman – PJSC, from Munich Re, one of the world’s leading providers of reinsurance. -
Saudi EXIM Bank joins Berne Union
This will help the bank address major issues in export credit. -
Wataniya Insurance to raise $53.3m through a rights issue
Wataniya Insurance Company’s board of directors has recommended to increase the company’s capital through a $53.3 million rights issue, according to a bourse filing. -
Saudi insurance sector Q2 results: premiums up, net income down
DUBAI: Saudi Arabian insurance sector showed overall positive developments during Q2 as gross written premiums (GWPs) grew by 8.1 percent to reach 9.4 billion compared to 8.7 billion SAR in the corresponding period last year, Saudi Central Bank SAMA said. GWP is used to measure an insurance’s company’s revenue health.... -
UCAC gets nod to amend insurance practice
The company had sought Saudi Central Bank's approval for the amendment. -
ADNIC H1 net up 31.1 percent to $67m
Gross written premiums for the H1 of 2021 rise by 4.2 percent to AED 2.67 billion. -
UAE consumers prefer online motor insurance
74% of the customers buy car insurance online in the UAE More than 90% of the consumers review car insurance offers online A large number of motorists in the UAE prefer to buy car insurance online, according to a survey. Insurance aggregator Policybazaar.ae has said that 74 percent of the...