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Tag Archives: insurance

Islamic insurance buoyed up corona crisis

The Islamic insurance market will continue to grow at current levels in the coming two to three years as more GCC, southeast Asian and African countries introduce mandatory health care, according to Moody’s Investors Service. Takaful growth will be helped by relatively low levels of insurance penetration and large Muslim …

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New employee insurance system starts

AT A GLANCE ■ New insurance policy replaces existing bank guarantee system ■ Insurance scheme costs Dh60 annually, providing Dh20,000 coverage per worker ■ It covers their end-of-service benefits, vacation allowance, overtime allowance, unpaid wages, worker’s return ticket and cases of work injury. ■ The insurance policy of domestic workers …

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Adnic posts Dh150.5m net profit for H1 2018

Abu Dhabi National Insurance Company (Adnic)’s net profit grew 17.1 per cent in the first half of 2018, largely due to an increase in net investment income, results show. The Abu Dhabi-listed company posted a net profit of Dh150.5 million, during the six-month period ended June 30, compared to Dh128.5 …

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Germany’s Allianz to stop insuring coal businesses

German insurance giant Allianz said Friday it would stop insuring coal-fired power plants and mines extracting the fuel, adding that it aims to divest from the sector completely by 2040. “We want to promote the transition to a climate-friendly economy,” said chief executive Oliver Baete, with the move part of …

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Paradigm shift in UAE health care

The year 2017 has proved to be a watershed year for the health-care sector in the UAE as it witnessed the first multiorgan cadaver transplant that conformed to the letter and spirit of the new cadaver donor regulations of the federal health ministry. Three lives were saved by two cadaver …

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GCC’s insurance sector poised for strong growth in next five years

Insurance industry across the GCC is poised for strong growth during the next five years, thanks to the huge economic diversification programme undertaken by governments, supportive population dynamics and changing regulations that have introduced mandatory health insurance cover in many countries, according to a recent forecast by Alpen Capital. The …

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