Saudi Arabian Cooperative Insurance Company (SAICO) has appointed Mr Khalid Ali Ballow as Acting CEO, effective 21 May 2026, according to a bourse filing on the Saudi Stock Exchange (Tadawul).
Marine hull war, marine cargo war and political violence business are seeing "extreme" stress levels, driven by vessel attacks, energy facility and property attacks, premium spikes and growing uncertainty around claims development., says Howden Re Business Intelligence.
The International Maritime Organization (IMO) has adopted a new International Code of Safety for Maritime Autonomous Surface Ships (MASS Code) to support the safe integration of AI-enabled and remotely operated commercial ships into global shipping.
Effective 1 July 2026, HDI Global will appoint Mr Thomas Kropp as COO/CIO. He will take over from Executive Board member Dr Thomas Kuhnt, who has personally decided to step down on 30 June 2026 in order to take up a new professional opportunity outside the Talanx Group.
Rising geopolitical tensions have increasingly affected insurance markets across the GCC, driving stronger demand for specialty insurance products such as war-risk, marine, political risk, and cyber insurance, according to Dubai-based investment banking advisory firm Alpen Capital.
The Insurance Regulatory Authority (IRA) has issued a directive stating that all importers shall be required to digitally place marine cargo insurance cover for their imports with domestic insurers via a digital platform, prior to obtaining customs clearance.
Orient Insurance, the UAE's leading insurance provider and a subsidiary of Al-Futtaim, has launched four competitive and comprehensive war risk protection solutions, as businesses and individuals are increasingly seeking robust Insurance solutions to help navigate evolving operational and geopolitical risks.
The hostilities in the Middle East have triggered a surge in discussions and notifications regarding Constructive Total Loss (CTL), but these have not yet translated into a material rise in accepted claims. The industry is seeing a trend where assets remain physically undamaged but are effectively "trapped" in conflict zones.
Recent global developments have underscored the growing importance of marine insurance and war risk coverage, placing new pressures on the insurance sector, according to a senior official of the Financial Services Authority (FSA).