MIDDLE EAST IN FOCUS
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NewsDWIC 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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NewsDWIC 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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NewsChedid 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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NewsGIG 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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NewsChedid 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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NewsSaudi Re completes sale of Its Probitas stake for £123m
Riyadh-based reinsurer sold its ownership stake in Probitas Holdings, Bermuda to Aviva.
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NewsDWIC 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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News‘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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NewsWhat 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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NewsLooking 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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NewsFidelis 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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NewsAM 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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Online onlyDWIC 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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NewsGulf 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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NewsHannover 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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NewsThe 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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NewsDubai 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.
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NewsChedid Capital buys remaining 20% stake in Groupe Ascoma
The Middle Eastern re/insurance broker moves to further cement its position in Africa’s insurance market.
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NewsGabriel using AI to prevent and respond to mass shootings
Artificial intelligence (AI) can be used for many things, but is responding to and preventing mass shootings its next frontier?
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NewsHowden launches Red Sea cargo war risk facility
First of its kind insurance facility within an active conflict zone to protect ships and strengthen global supply chains.
