Insurance World

A.M. Best received the award for International Best Ratings Agency for Takaful at the International Takaful Awards 2017, held in conjunction with the 11th International Takaful Summit in London. This is the third consecutive year that A.M. Best has been awarded the International Best Ratings Agency for Takaful.

In light of its exceptional growth and outstanding performance throughout the past year, Seib Insurance and Reinsurance Company LLC (Seib) S&P Rating has revised its outlook of Seib to positive from stable and affirmed its BBB counterparty credit and insurer financial strength ratings and is also affirming its gcAA Gulf Cooperation Council regional scale rating, indicating the Company’s rapid progress and its strong capacity to meet financial commitments.

Road traffic crashes are one of the leading causes of death globally – 1.25 million people are estimated to be killed on the roads each year, representing more than 3,400 deaths per day – equivalent to more than 141 deaths per hour – while another 30 to 50 million people are injured every year. Road crashes are responsible for more deaths than malaria, suicides and homicides and are the only non-disease-related cause among the ten leading causes of death ranked by the World Health Organization (WHO).

Dubai businesses could face penalties for failing to comply with the looming renewal deadline on mandatory health insurance, the financial planning firm Guardian Wealth Management (GWM) has warned.

Zurich International Life Limited (Middle East) (Zurich) and Standard Chartered announced today the signing of an exclusive distribution agreement. As part of it, Standard Chartered will offer Zurich’s comprehensive life insurance solutions to its customers in the United Arab Emirates (UAE) for the next 10 years.