Saturday 19 April 2014
 
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Reinsurance

Arig eyes prudent approach

Bahrain-based Arab Insurance Group's (Arig) top management is eyeing a prudent approach this year as the reinsurance major expects a testing trading environment ahead. Chairman Khalid Al Bustani told shareholders at the compan

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NY financial regulator probes insurers over Iran links

New York's financial regulator has asked Lloyd's Banking Group and Swiss RE for details about dealings linked to Iran as part of a probe into 20 non-US reinsurance firms, the Wall Street Journal reported. Citing a copy of

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Japan group acquires 25.7pc stake in Medgulf

Japan headquartered Orix Corporation has acquired 25.7 per cent stake in Bahrain-based The Mediterranean and Gulf Insurance and Reinsurance Company (Medgulf), a report said. The stake was acquired for $2.24 million, reported the G

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Trust Re raises capital, eyes expansion

Bahrain-based Trust International Insurance and Reinsurance Company (Trust Re) has increased its paid-up capital to $140 million and authorised capital to $200 million, a report said. The move was announced during a Press conferen

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Arab Spring pushes reinsurance costs up 400pc

The cost of reinsurance has spiralled across the region by some 400 per cent since the advent of the Arab Spring and that is having a major impact on the insurance industry. That will be one of the key issues to be discussed at a

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Arig investors worried over dividend failure

The shareholders of Arab Insurance Group (Arig), a leading insurance and reinsurance company based in Bahrain, yesterday voiced their concerns over the company's performance during their annual general meeting. They were parti

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India plans fund to cover refiners using Iranian oil

India plans to set up a fund to back local insurers providing cover for refiners processing Iranian oil after companies warned they would be forced to halt imports from the sanctions-hit nation, the federal oil secretary said on Sunday.

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Arig swings to $15m net profit

Arab Insurance Group (Arig), a leading Bahrain insurance company, said it has swung to a net profit of $15.3 million for 2012 from a net loss of $19.1 million in 2011. In a statement, the company said its reinsurance book and inve

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Arab Insurance Group swings to quarterly profit

Improved performance under its reinsurance portfolio and healthy investment returns saw Arab Insurance Group (Arig) bounce back into the black in the first nine months of the year. Arig earned a net profit of $10.3 million against

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Daman launches operations in Qatar

The National Insurance Company – Daman (Daman), a leading health insurer in the UAE, is set to offer its services in Qatar with the launch of Daman Health Insurance Qatar (Daman Qatar). Daman Qatar benefits from the experience gained by Da

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