Business Life

Tariq Abdul wase’a Hayel Receives an award from Salah Al A’Atar

The United Insurance won the title of “best insurance company in Yemen” for the second consecutive year through a referendum by a magazine.

In coordination with the General Authority for Investment and the General Federation of Chambers of Commerce and Industry the results of the referendum were announced during an event which was held on this occasion recently in the Movenpick Hotel in Sana’a The event was under the patronage of the Prime Minister Dr. Ali Mohamed Mujawar. The United have been given this title because of its excellent performance and good reputation in Yemen for...

In its latest report on the insurance market in the Kingdom of Saudi Arabia, Standard & Poor’s Ratings Services says that insurance and reinsurance in the Kingdom have entered a new era of strength and opportunity in 2008, despite some inevitable short-term uncertainties during the recent transitional period from an unregulated to a regulated marketplace. “During the past three years, most of the 100 or so unregulated, offshore insurers that traditionally made up much of the Kingdom’s insurance market have ceased trading in Saudi Arabia,” said Standard & Poor’s credit analyst David...

Yassir Albaharna, CEO of Arab Insurance Group (Arig)

Yassir Albaharna, CEO of Arab Insurance Group (Arig), was recently named among the “Top 40 Most Influential” reinsurance leaders by a prominent British industry magazine. The list, which includes such illustrious personalities as Warren Buffett and Lloyd’s Chairman Lord Levene, is a Who’s Who of the leading personalities in a $168 billion industry. Reinsurers typically extend the capacity of insurance companies through a greater risk sharing. “Arig put the MENA region on the map of global reinsurance. Founded in 1980, the company has weathered all storms to become one of the most...

The Bahrain Insurance Association (BIA) expressed their delight at the convergence of public and private sectors in the fields of insurance and healthcare, in support of the BIA’s upcoming 2-day Medical Insurance Workshop.
The workshop, which is targeting a specialized group of approximately 150 decision makers, researchers, and executives from the GCC insurance sector, and public health sector, will take place on October 12-13, 2008 from 9am - 2pm at the Movenpick Hotel, Kingdom of Bahrain, and will be held under the patronage of H.E. Dr. Faisal Bin Yaqoob Al Hamar, Minister of Health...

AXA Insurance Gulf has signed an agreement with AXA Corporate Solutions to further its strategic ambition to grow significantly in the Marine & Large Risks insurance and risk management sectors.With AXA Corporate Solutions' support, it aims to become the region-wide leader in Large Risks insurance and strengthen its premier cargo insurance status offering world class insurance products and services.

AXA Corporate Solutions will work jointly with AXA Insurance Gulf's local operations developing insurance offerings for marine cargo, yacht and large commercial risks through its intermediary...

Ebrahim Al Rayes – Chief Executive Officer of Bahrain Kuwait Insurance Co. announced that the Company achieved 5.46% increase in net profit - from BD. 2,704,464 in Q2 of this year against BD. 2,564,364 for the same period last year. Underwriting profit increased by 76% from BD. 878,400 in Q2 2007 to BD. 1,547,163 for the same period this year.

The investment income decreased from BD. 1,870,267 in the Q2 last year to BD 1,237,111 for the same period this year. However the last year’s figure includes BD. 588,000 a non recurring profit achieved from the sale of part of BKIC holding in...