Residents of the UAE are willing to spend more on critical illness insurance cover than the global average, but remain significantly under-insured, according to a new report by Zurich International Life, Middle East.
Hansard International launched its new strategic alliance with UAE-based Union Insurance Co on Thursday, which includes the provision of two new savings and investment products under the brand name ‘Infinity’.
Rising demand from local and expat clients in Dubai coupled with improved IT systems are the driving force behind Investors Trust Assurance’s “phenomenal growth” in the region, according to Philip Story, the life company’s head of distribution for EMEA.
Agnostic and ethically-minded investors are increasingly turning to Shariah compliant products with asset managers happy to meet demand, says Jad Shams, head of Mena for Mirae Asset.
The regulator of the Abu Dhabi Global Market (ADGM), the UAE’s new international financial centre, has signed an agreement with the regulatory authority in Mauritius to strengthen cooperation and facilitate the exchange of information.
Hansard Global’s Middle East and Africa business continued to drive growth in the second half of 2016, which was also boosted by Latin American and regular premiums.
Hansard International plans to launch two new products in Dubai as part of its recently announced alliance with the UAE-based general insurer, Union Insurance.
Chinese, Japanese and Indian banks now occupy the top slots in the Dubai International Financial Centre (DIFC) in terms of total assets, the chairman of the centre’s regulator has told a forum in Hong Kong.
Hansard International has signed a strategic deal with a ‘major local insurer’ in the UAE which is regulated by the Insurance Authority.
America's Internal Revenue Service (IRS) has shared details of more than 35,000 US accounts held by Israeli citizens with the Israel Tax Authority (ITA), according to local media.
Regulatory changes in the United Arab Emirates pose a challenge to existing business models for IFAs in the region but Sean Kelleher at Mondial is one step ahead, and after years of hard work in preparing his business for the new requirements, he is ready to reap the rewards.
The UAE Insurance Authority (IA) is to issue a new draft and open a fresh consultation on plans to tackle high fees and hidden commissions in the life industry after requests for a 'two-year delay', sources have told International Adviser.
Brendan Dolan, a veteran of the Middle East and Africa life industry, is to take over the position vacated by Marcel Bradshaw as head of sales worldwide for Old Mutual International, part of Old Mutual Wealth.
The Dubai Financial Services Authority (DFSA) has no proposals to ban commission, according to chief executive Ian Johnston.
Proposals that could significantly change how insurance companies operate in the UAE stand to benefit Isle of Man-based life companies over the longer term, according to key industry figures on the island.
Investors Trust Assurance, an offshore insurance and investment company, has moved to a bigger office within the Dubai International Financial Centre (DIFC).
Those clients who benefit from having a financial adviser have better performing assets in their portfolios than those who go it alone, says John Astrup, savings and investment propositions manager, Zurich International Life, Middle East.
Rather than worry at a time of political change, I recently took a few days away from the screens to visit Israel for the first time, meeting innovative companies and soaking up the atmosphere.
There will be a massive impact on the financial services industry if the UAE Insurance Authority’s proposed clampdown on fees and commissions comes into effect in 2017, says Philip Cernik, chief marketing officer of Friends Provident International.
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