That kept the American Club from joining in the re-insurance
of Iranian cargoes.
To name a few: he was a retired Re-insurance
Advisor to United Nations, Ex-Consultant to Islamic Development Bank and Dallah Al-Barka Group (Jeddah), founder General Manager of first ever Islamic Insurance Co.
After the Insurance Regulatory and Development Authority of India, (IRDAI) cancelled the license of Wills India - the third largest re-insurance
brokers in the world - for financial irregularities; it still continues to do huge business in India - backdoor through Almondz Brokers, India.
9 billion while incurred losses of property and liability insurance before deduction of the re-insurance
share were Dh18 billion.
Global Banking News-May 5, 2014--Uganda launches first re-insurance
Head of the Egyptian Insurance Federation Abd El-Raouf Kotb said, "Establishing new Egyptian re-insurance
companies is an issue of national security.
Former finance minister Yousef Hussein Kamal had early this year told Qatar Financial Centre-sponsored Multaqa insurance conference that Al Koot will be converted into re-insurance
company and all the insurers will be partners/stakeholders in the new structure.
and EU sanctions, the global insurers provide re-insurance
with "sanction clause", which limit the amount to be paid in case a claim arises.
An increasing number of global re-insurance
firms are eyeing the Middle East and North Africa (MENA) region as its markets offer new opportunities for higher growth than developed markets, according to Bin Shabib Associates (BSA), a law firm.
The Middle East insurance industry has been growing at a very fast pace and promises exciting growth prospects," said Dubai Islamic Insurance and re-insurance
managing director and chief executive officer Hussein Al Meeza.
The CMD also noted that his company has incurred heavy losses due to re-insurance
claims from Omani companies during Cyclone Gonu and Phet.
The event, moderated by experts from the field, is attended by representatives of credit insurance companies members of the Union as well as re-insurance
, collection, commercial information companies and financial institutions.