Company posts a net profit of $2.18 million for Q3 2024, compared to a loss of $231,450 in the same period last year
insurance provider
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Bajaj Allianz Life
Indian insurer Bajaj Allianz Life opens first GCC office in Dubai
The representative office will focus on offering enhanced services to its customers based in the Middle East
Cigna
Saudi Arabia allows entry of a foreign health insurance company for first time
The country’s central bank announced granting license to Cigna Worldwide Insurance Company on Monday
Abu Dhabi
Abu Dhabi-based Daman records 84% growth in profits in three years
Includes 14 percent increase in overall earned instalments compared to 2020; also managed an 18 percent reduction in operational expenses despite 80 percent increase in paid claims
insurance
Oman Insurance Company is now ‘Sukoon’
The company unveiled a new corporate logo on the Burj Khalifa on Thursday
Aon
British insurer Aon to launch ‘insurance academy’ for Saudis as demand grows
The British-American firm said it has increased its investment in the Middle East in recent years – particularly in Saudi Arabia, where it has seen most profitability
business funding
Abu Dhabi’s Mubadala backs $4.5 billion German insurtech Wefox
Currently, the company serves over two million customers, which it plans to increase to three million by the end of this year
Abu Dhabi Securities Exchange
Newly formed Islamic insurance giant begins trading on DFM following Dar Al Takaful, Watania merger
The merged company will benefit from “significant cost and revenue synergies, reduced operating expenses, and better IT platforms to expand its product offerings”
Dubai
Dubai Health Authority launches first-of-its-kind value-based healthcare model
The treatment outcomes model – ‘EJADAH’ – is aimed at further improving health services, enhancing preventive care and reducing healthcare costs in Dubai
car insurance
Policybazaar, SALAMA team up to offer online insurance plan for non-GCC spec cars
Insuring non-GCC spec cars used to pose a greater risk to auto insurers because they were not designed for Gulf conditions
insurance
How insurtech demystifies insurance by making it simpler, accessible, and easier to understand
“With insurtech, we’re typically trying to give more detailed data that helps the industry price the risk better. At the same time, it makes insurance, or the product, simpler for consumers,” says CEO of insurtech policybazaar
acquisitions
Gulf Insurance Group completes acquisition deal for AXA operations in region
Deal includes AXA’s shareholding in AXA Gulf, which entails operations in Bahrain, the UAE, Oman and Qatar; as well as AXA Cooperative Insurance Company
digital insurance platform
Abu Dhabi’s Mubadala invests in Berlin-based digital insurance company
Record $650m Series C funding round for wefox resulted in a post-money valuation of $3bn
coronavirus
Video: What happens to insurance policies in the face of a pandemic?
New day, new development. We heard yesterday that the UAE National Sterilisation Programme has been extended to run 24 hours a day in Dubai for the next two weeks. While trams and metro will be closed during this duration, union Cooperative outlets, supermarkets, pharmacies and food and medicine deliveries will be allowed to operate.
digital insurance
Souqalmal.com to offer health insurance online
Customers will now be able to get insurance in about five minutes using the digital platform