The New India Assurance Company (NIA), a pioneer in the UAE insurance industry, is set to open a reinsurance desk at its Dubai International Financial Centre (DIFC) office to enhance its presence in the segment in the region.
The influx of reinsurance capacity in the Mena region and the prevailing competitive market conditions has begun to place pressure on the technical performance of regional reinsurers, a report said.
The low level of insurance pene
Merger and takeover activity is likely to continue in the coming months as (re)insurers increasingly seek ways to deploy capital and create scale against a backdrop of ongoing soft market conditions and weak investment returns, a report said.
Trust Re, a reinsurance company based in Bahrain, reported profits of $ 8.7 million during the first quarter (Q1) of the year, up 10.1 per cent year-on-year from $ 7.9 million achieved in Q1 2014.
Gross Written Premium reached $20
Trust Re, a leading reinsurance company based in Bahrain, announced that its authorised, issued and paid-up capital now stands at $200 million.
Its shareholders have released the final part, $30 million, of a plan to double the au
Trust Re, a reinsurance company based in Bahrain achieved gross written premium of $452.6 million during the financial year 2014, as against $398 million in the previous year, marking a growth of 13.7 per cent.
The Group’s p
Growing insurance premiums and a relatively low exposure to natural perils are the main attractions which are driving the unabated growth of Mena reinsurance markets, a report said.
Fierce competition, intense pricing pressure and
The spread of Islamic trade finance is boosting demand for sharia-compliant reinsurance in the Gulf, trade credit insurer Euler Hermes says, predicting the sector could eventually account for over a third of its business in the region.
UK-based XL Group's reinsurance segment has announced the establishment of new operations in Dubai to serve the Mena market and act as a regional hub for the business.
Further, XL Group has announced the appointments of Mohama
Bahrain-based Arab Insurance Group's (Arig) top management is eyeing a prudent approach this year as the reinsurance major expects a testing trading environment ahead.
Chairman Khalid Al Bustani told shareholders at the compan