South African insurers Sanlam Ltd. and Santam Ltd. agreed to buy a 30 percent stake in Saham Finances SA of Morocco for $375 million to gain access to insurance markets in West and North Africa. The stake will be purchased …
ACE Group has appointed Ghassan Wazen, currently regional business development manager for ACE in MENA, to the new role of head of North Africa, as it continues to build its management capabilities within Eurasia and Africa, its newest geographical business …
Willis Re, the reinsurance arm of Willis Group Holdings, announced the appointment of Kieran Angelini-Hurll as Regional Director of its Indian Sub-Continent, Middle East, North Africa and Turkey operations, a newly created post within the group. He will be based …
A.M. Best Co. announced the formal opening of its new office in the Dubai International Finance Centre (DIFC) in Dubai, UAE. The office is located in Tower 2, Currency House, DIFC, and “will operate as A.M. Best MENA, South & …
A recent bulletin points out that the “future of the MENA [Middle East North Africa] Insurance market remains bright, but the local insurance companies must start their transition from fragmented companies to become national champions and regional players now.” The …
Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corp., announced that Ahmed Rajab, an executive with 15 years of experience in the reinsurance industry, will become CEO, Middle East & North Africa. The bulletin noted that this …
A newly issued special report from A.M. Best notes that although the “reinsurance environment in the Middle East and North Africa (MENA) region is stagnant in many aspects, it also contains many elements that are in an exciting stage of …
Aon’s annual publication of its Terrorist Risk Map has been expanded. Aon said this year’s version features areas where “political violence, strikes, riots, civil war and war threaten the sustainable growth, continuity and profitability of businesses as much as terrorism.” …
Lockton in Dubai announced the appointment of Neil Dawes as a specialist financial lines broker providing (re)insurance and risk management expertise to clients in the Middle East and North Africa (MENA) region. He has more than “24 years of experience …
Attempting to predict the future, rather than imagining possible versions of it, may have blinded risk analysts to the likelihood of this year’s uprisings across the Middle East and North Africa. Concentrating on what precedent taught was probable, and trying …
