Middle East and Africa
This region's insurance markets are expected to undergo rapid expansion
Arch taps Chaucer's Chtioui to write Mena PV risks
Jalal Chtioui named senior underwriter for terrorism, political violence and war
Guy Carpenter acquires Israeli broker
Reinsurance broker buys Re Solutions for an undisclosed amount
Turkey earthquake insured loss raised to $4.4bn: Perils
Loss aggregator increases estimate for country’s costliest catastrophe event by one-third
A hard market brings responsibility
African Risk Capacity ‘has not been spared’ hardening catastrophe reinsurance pricing
Fairfax raises stake in Gulf Insurance to 90%
Fairfax affiliates will acquire an additional 46% stake in Gulf Insurance Group for around $860m
African Risk Capacity appoints Gallagher Re as broker
Gallagher Re will place a portfolio cover in the reinsurance and capital markets for the transfer of climate and food insecurity risks in Africa
Nexus completes purchase of majority stake in Spectrum Risk Management
‘We see a clear opportunity to build a Nexus Dubai business underwriting in excess of $50m in gross written premium over the next three years,’ says Kentro Capital and Nexus Underwriting chief executive
BMS to launch in Middle East through acquisition
The specialist re/insurance broker has agreed to acquire a majority share in Abu Dhabi- and Dubai-based broker Berns Brett Masaood
Mozambique buys parametric reinsurance for cyclone risk
The parametric policy, led by Africa Specialty Risks, is the first of its kind for Africa and provides cover of $35m if windspeed or rainfall triggers are met
Building resilience in South Africa’s political violence insurance market
The riots in South Africa in July 2021 resulted in significant property damage that took a heavy toll on Sasria, the state-backed political violence insurer, and also spread into the international political violence markets. With national elections looming in 2024, could the political violence market cope with another potential outbreak of civil unrest?
McLarens boosts Middle East operation with senior hires
Global claims services provider appoints Richard Croudson senior executive adjuster alongside four other hires as McLarens expands commercial property and construction practice in the UAE
Africa Specialty Risks approved as Lloyd's coverholder
Pan-Africa reinsurance group strikes political violence capacity deal with Atrium
Brokerslink expands network in Africa
Broker network announces new partners in Algeria, Ethiopia, Libya and Réunion
Turkey quake insured losses could top $4bn
Reinsurers to bear bulk of losses through participation in Turkish Catastrophe Insurance Pool programme or through the reinsurance of local carriers
Gallagher appoints Tidey head of Middle East natural resources
Corey Tidey joins from Lockton Australia, where he was manager for power and energy
Optio MENA begins trading in Dubai
Specialty managing general agent launches MGA and reinsurance broking operation that will initially focus on A&H business
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