Insurance World

Abu Dhabi National Takaful Co. PSC (ADNTC), the leading takaful operator in the region and one of the most progressive insurers in the UAE announced its financial results for the year ended 31 December 2017.

The insurance market of the United Arab Emirates (UAE) has continued its strong momentum in 2017 and returned exceptional profits, according to analysis of company results by A.M. Best.

Berkshire Hathaway Specialty Insurance Company (BHSI) today announced that it has received its insurance license from the Dubai Financial Services Authority and established an office in the Dubai International Financial Centre (DIFC), while naming Alessandro Cerase as its Senior Executive Officer (SEO) and Neeraj Yadvendu as deputy SEO and Head of Third Party Lines for the Middle East. In addition, Alessandro will be leading First Party Lines for BHSI’s broader Asia Middle East region, which includes BHSI’s other regional hubs of Hong Kong and Singapore as well as its operations in Malaysia and Macau.

A.M. Best has a negative outlook on the insurance markets of the Gulf Cooperation Council (GCC). Insurers in the GCC (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates) have historically enjoyed significant capital buffers and benefited from extensive reinsurance support; however, continuing headwinds could lead to potential volatility in the operating performance and capitalisation of market participants.

Seib Insurance & Reinsurance Company LLC (Seib), one of Qatar’s leading insurance and reinsurance company, is pleased to announce the successful completion of internship program for Qataris.