Insurance

Insurance companies operating in Jordan face challenging market conditions, with competition eroding technical margins, coupled with exposure to political, economic and financial system risks, according to a new market segment report by A.M. Best. Furthermore, the high number of players and concentration on the motor and medical insurance segments has intensified competitive pressures. Tariffs imposed by the government on motor business have further strained underwriting profitability over recent years.

Zurich International Life Ltd. (Zurich) is today launching Zurich Allocated Passive (ZAP) funds, a new investment solution which provides customers with five ready-made portfolios that make investing simple.

With nearly 680 million people using assets or services purchased through sharing economy platforms globally, new research from Lloyd’s the specialist Insurance market and Deloitte analyses how insurance can support growth against key risks in this booming sector. The study focuses on the peer-to-peer model and specifically the services, real estate and finance sectors.

InfoFort, an Aramex company and leading information management solution provider in the Middle East and Africa, today signed an agreement with Salama Cooperative Insurance Company, a leading Saudi based company with more than 35 years of global experience in motor, medical, travel, malpractice and general insurance.

Hyperloop Transportation Technologies, leading testing, certification and inspection company TÜV SÜD, and Munich Re, one of the world’s leading providers of reinsurance, primary insurance and insurance-related risk solutions announced today the creation of the first set of Hyperloop core safety requirements and certification guidelines along with the first insurance framework for HyperloopTT worldwide systems. As construction moves forward at different locations around the world, HyperloopTT has reached key milestones on two of the biggest hurdles remaining for the new transportation system: regulation and insurance.

ACE Insurance Brokers, one of the leading insurance and reinsurance brokerage firms in the GCC, has embarked on a major rebranding strategy to enhance ambitious regional growth plans.