DWIC and MEASA
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DWIC Roundtable: The explosion of PV
Demand for political violence (PV) protection has risen across MENA markets, driven by geopolitical volatility, as well as growing client awareness about this nascent product. A roundtable on day two took a deep dive into an evolving market.
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DWIC Roundtable: MGAs as catalysts for change
DWIC’s day one roundtable discussed how MGAs are reshaping the traditional distribution model and driving effi ciency in underwriting and product development.
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Chedid Capital appoints ex Sompo Canopius CEO Davies as non-exec to Milestone board
The Middle Eastern re/insurance broker said it was ramping up its global governance efforts with the appointment of Stuart Davies, who previously served as group CEO of Sompo Canopius.
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GIG appoints new board led by Fairfax’s Khosrowshahi as chairman
Fairfax Financial is majority shareholder of Kuwait-based Middle East insurer Gulf Insurance Group.
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Chedid Re adds Vandendael as non-exec to board
The Middle Eastern reinsurance broker has appointed the former chief commercial officer of Lloyd’s as an independent non-executive director of Chedid Re Global Operations’ board.
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DWIC 2024 post event report: From Uncertainty to Opportunity
An event report on this year’s record-breaking Dubai World Insurance Congress, in association with the Dubai International Financial Centre Authority.
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‘Lessons to be learned’ from Dubai April rainfall – IGI’s Labat
The heavy rain that hit Dubai in April 2024 were a major talking point in one-to-one meetings at this year’s DWIC.
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What next after Dubai’s 'unprecedented' heavy rains? - Chedid Re interview
On 16 April, Dubai was affected by sudden, heavy rains that caused significant damages. Elsewhere, in Al-Ain, just over sixty miles from Dubai, nearly three times the usual annual rainfall was experienced in a single day.
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Looking to Oman on catastrophe risk – Africa Re’s Zaghloul
Looking around him at DWIC 2024, Mohamed Saad Zaghloul, senior executive officer of the Dubai office of Africa Re Underwriting Management Agency, suggested there would be change and “tough discussion” for UAE treaty business at renewals.
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Fidelis Partnership to open Abu Dhabi office
Matthew Warren joins from broker Oneglobal to lead the office as executive chairman of Fidelis MEASA.
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AM Best keeps ‘stable’ outlook on Gulf insurance markets
The insurance markets of the Gulf countries are broadly stable, the rating agency said in a segment report, but reinsurance was flagged as a vulnerability for local carriers.
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DWIC24: Phinsys wins Lloyd’s Lab ‘Dragons’ Den’ insurtech competition
Five graduate startups of the Lloyd’s Lab insurtech incubator made their pitches to DWIC 2024, grilled by questions from a panel that included Vicky Carter, deputy chair of Lloyd’s.
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DWIC 2024: Insurers need to focus on risk management and mitigation - Lloyd's' Mackinnon
The world is in a “manageable plateau of chaos”, says Chris Mackinnon, deputy regional director, Asia Pacific, Middle East & Africa, Lloyd’s, but insurers and reinsurers must adapt to help businesses survive.
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DWIC 2024: Insurers should be more consistent – QBE’s Horton
Insurance is more important than ever to help businesses manage escalating risks, Andrew Horton, group CEO of QBE, told DWIC 2024. However, to do this successfully, he argued that insurance companies should prioritise one of its key strengths: consistency.
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DWIC 2024: ‘Climate crisis on everyone’s agenda’ – Lloyd’s deputy chair Vicky Carter
As temperatures across the globe continue to rise, the re/insurance industry must play a vital role in helping the green transition, says Vicky Carter, deputy chair of Lloyd’s and chairman, global capital solutions, international, Guy Carpenter.
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DWIC 2024: A record-breaking year for the DIFC
The Dubai International Financial Centre (DIFC) saw gross written premiums reach almost $2.6bn, says Alya Al Zarouni, chief operating officer at the DIFC Authority, opening keynote for DWIC 2024, which got underway in Dubai today.
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Gulf floods update from Guy Carpenter Cat Resource Center
Severe weather hit the Arabian Gulf, starting April 14, 2024, most severely affecting Oman and the UAE. Extreme amounts of rain brought by the storms have led to a preliminary insured property loss estimate expected to exceed $650m, which could reach $850m for the UAE.
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Hannover ReTakaful: ‘We are fully committed to the MENA region’
Olaf Brock, managing director and CEO of Hannover Re’s Bahrain branch and Hannover ReTakaful, provided GR with a pre-DWIC Q&A.
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The new PV reinsurance market hub in Dubai
There are at least ten active carriers or MGAs of political violence re/insurance operating from the Dubai International Financial Centre, one senior Dubai-based underwriter says.
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Dubai floods add to claims, reinsurance costs for local insurers – Moody’s
April storms mean claims and increased reinsurance costs for GCC insurers, according to a rating agency report.