Bahrain’s ARIG to acquire Takaful Re

BAHRAIN’S ARAB Insurance Group is in discussions to take full ownership of Dubai-based Islamic reinsurer Takaful Re, as regulatory moves add pressure on firms in the overcrowded Gulf insurance sector to consolidate. [...]

Share and share alike

RISK-AVERSE SAVERS in the Gulf looking for a safe haven could lead to a surge in investment in takaful funds, according to the head of an Islamic venture launched by one of the world’s largest insurance companies. Allianz Takaful, a subsidiary of Ge [...]

Short-term shocks

Insurance companies may not have been hit as hard by the financial crisis as many banks were. Yet, as the recession bites, so their growth is likely to slow. “Insurance purchasing is very much linked to GDP growth,” said Giles Ward, regional managin [...]

A good deal in Kurdistan?

INSURANCE RATES for businesspeople travelling to Iraq have dropped by 10 per cent in the past 12 months, say brokers. At the same time, premiums for those travelling to Kurdistan have become more favourable as security improves. “We’ve seen about a [...]

Bright future for Saudi insurance?

THE VOLATILE performance of insurance stocks in Saudi Arabia raises doubts over the sector’s long-term prospects. Over the past year, the number of insurers listed on Tadawal, the Saudi Stock Exchange, has jumped from two to 20 as a result of new ru [...]

Busy season

MOTOR INSURERS are bracing themselves for a rise in claims during Ramadan, when the number of traffic accidents increases. Casualties are expected to be particularly bad in Saudi Arabia where accident rates are already high. Extra police have been r [...]