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Specialty tag returned 271 results

  • New code of conduct for insurance market using AI

    A new code of conduct for the insurance industry for using AI has been put in place. Created by a collaborative group of 127 experts, the new initiative aims to establish and uphold "the highest standards of behaviour and ethical responsibility" when planning, designing, or utilising AI in the management and settlement of insurance claims.

    Asia Risk | 07 Feb 2024
  • UAE: BMS completes acquisition of Berns Brett Masaood and rebrands to BMS Masaood

    BMS, the independent specialist insurance and reinsurance broker, has completed its majority stake acquisition of Berns Brett Masaood (BBM), a leading UAE insurance broker established in 2007 and headquartered in Abu Dhabi and Dubai.

    Middle East | 07 Jan 2024
  • MENA: AWRIS's underwriting performance supported by low loss ratios

    Bahrain-based Arab War Risks Insurance Syndicate (AWRIS) has a track record of strong operating performance, demonstrated by a five-year (2018-2022) weighted average combined ratio of 64.6% and a five-year return-on-equity ratio (ROE) of 6.7%, notes AM Best.

    Middle East | 17 Dec 2023
  • Africa Specialty Risks plans to launch Lloyd's syndicate in 2024

    Africa Specialty Risks (ASR), a pan-African focused (re)insurance group, has received Lloyd's Council 'in-principle' approval to launch a Lloyd's syndicate in 2024, with Apollo Syndicate Management, the market-leading innovative integrated insurance group.

    Africa | 11 Dec 2023
  • Saudi Arabia: Oil giant's captive insurer's financial performance expected to remain strong

    Saudi Arabian Oil Company's (SAOC) captive insurance company, Bermuda-based Stellar Insurance, is expected to show a strong performance in 2023 and prospectively, says AM Best.

    Middle East | 11 Dec 2023
  • Lebanon: AWRIS places Lebanon on "Hold cover" status

    The Arab War Risk Insurance Syndicate (AWRIS) has placed Lebanon on "Hold cover" status, given heightened risks in the wake of the outbreak of war between Hamas and Israel.

    Middle East | 22 Nov 2023
  • AI not main cause of recent insurance layoffs

    In a commentary the credit rating agency AM Best has said that "it is too soon to cite AI as the leading cause of the job losses, at least at this nascent stage." Instead, the layoffs likely fall into "the cyclical, rather than the structural, category."

    Asia Risk | 22 Nov 2023
  • Japan: Marsh forms agency JV with local partner

    The world's leading insurance broker Marsh has teamed with a Japanese partner on an insurance agency that makes specialised recommendations on corporate coverage.

    Asia | 31 Oct 2023
  • Turkiye: Liability insurance requirements take effect covering nuclear facilities and activities

    The working procedures and principles of Turkiye's Nuclear Insurance Pool are set out in a regulation that took effect on its publication by the Insurance and Private Pension Regulation and Supervision Agency (SEDDK) in the Official Gazette on 19 October 2023.

    Middle East | 23 Oct 2023
  • Belt & Road reinsurance syndicate underwrites 74 projects

    China's "One Belt, One Road" Reinsurance Community underwrote a total of 74 "Belt and Road" (B&R) projects in the period between the formal commencement of operations in November 2020 and the end of June 2023. The insurance coverage provided protection for total overseas assets worth CNY57bn ($7.8bn).

    China | 13 Oct 2023

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