In the October 2016 issue

This month in Middle East Insurance Review
Page 1 of 6

Middle East - Finalists of 3rd Middle East Insurance Industry Awards announced

Some 46 participants made it to the finals of the 3rd Middle East Insurance Industry Awards (MIIA), to recognise and salute excellence in the industry edging out some 278 other contenders in 16 categories.

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Middle East - Region's firms see highest proportion of cyber victims worldwide

The Middle East has the highest proportion of businesses that have suffered losses from cyber incidents compared to other regions in the world, with 85% of respondents in the region hit last year compared to a global average of 79%, according to this year's PwC Middle East's Global State of Information Security survey.

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Middle East - Shisha smoking linked to cancers

Shisha smoking, widespread in the Middle East, has been associated with cancer of the head and neck, as well as the oesophagus and lungs, according to a comprehensive study by researchers at Weill Cornell Medicine-Qatar (WCM-Q).

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Middle East - Growth in billionaire numbers is world's 2nd fastest

The Middle East had the second-fastest growing population of billionaires last year, up 8% to 166, behind Asia Pacific, according to a report by Wealth-X, a specialist wealth research and consultancy firm.

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MENA: 71% of professionals prefer to be self-employed

A vast majority of working professionals (71%) in MENA prefer to be self-employed, citing "personal fulfilment" (58%) and "freedom to choose work-life balance" (41%) as the primary reasons for this preference, according to the "Entrepreneurship in the MENA" report published by leading job-site and online market research firm YouGov.

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GCC: Comprehensive policies needed to combat climate change

GCC states need to do more to formulate and implement clean energy and sustainable development policies that can help mitigate against climate change scenarios, according to an Omani researcher, Hilal al Shidi, a scientist at Sultan Qaboos University. There is a need for comprehensive policies underpinned by a strong regulatory framework if the pursuit of renewables is to gain traction.

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Bahrain: Tough market conditions affect Trust Re's 1H results

Bahrain-headquartered Trust Re achieved GWP of US$290.6 million for the six-month period ended 30 June 2016, a decline of 13% compared to $328.6 million for the same period in 2015. The Group's profits fell by 59% y-o-y to $13.2 million during the same period.

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Iran: MoU signed with Norwegian P&I club

Iran's biggest shipping operator, Islamic Republic of Iran Shipping Line (IRISL), and Norway's Skuld P&I Company have inked an agreement on a range of marine insurance, said media reports.

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Jordan: Idea of policyholders' protection fund mooted

The insurance industry in Jordan has discussed the establishment of a fund for the protection of policyholders in the event of the bankruptcy of an insurance company.

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