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Middle East and Africa

This region's insurance markets are expected to undergo rapid expansion


Markel hires Meek to lead Mena cyber portfolio

Meek will be responsible for growing the insurer’s cyber offering in the region

Middle East and Africa Markel

Hillary Clinton calls for insurance reform at Cop28

The former US secretary of state warns insurers against shirking responsibility for providing climate risk cover

Climate change International

Underwriters fear aggregation loss on Israeli ships

Local owners not generating sufficient premium revenue to cover scale of potential payouts, with hijacked Galaxy Leader worth up to $60m if declared a constructive total loss

Middle East and Africa Marine

Israeli shipowners set to pay more for Red Sea war risk cover after attacks

Premiums already up 200% after Galaxy Leader hijack and likely to get firmer this week

Israel Yemen

Israeli owners may face war risk rate hike after car carrier capture

Red Sea transits unavoidable for Suez Canal users and even a rise of a fraction of a percentage point could add hundreds of thousands of dollars to cost of a trip

Israel Yemen

Mutuals have the leeway to pay discretionary claims

The Russian invasion of Ukraine and the Hamas attack on Israel underline the crucial contribution insurance makes to allowing seaborne trade to continue when conflicts are in full flow

Middle East and Africa Europe

Israel marine war risk rates steady as Lebanon pricing softens

Calls to Israel attract additional premiums in the order of 0.25%-0.5% of hull value, market sources report

Israel Lebanon

Aon consolidates UK and EMEA region

Page to lead combined operation as Dávila exits

Europe Middle East and Africa

Lebanon war risk rates double as fears grow that fighting will spread

Hezbollah involvement, missile attacks from Yemen, and Egyptian crisis leading to Suez shutdown among scenarios being considered by marine insurers

Middle East and Africa Specialty

Israel marine war risk rates set for tenfold jump

Lack of Hamas naval and mine-laying capacity means prices are unlikely to go as high as the Ukraine precedent

Middle East and Africa Specialty

QBE launches Middle East cyber offering

Australian insurance giant appoints Hamlat from Marsh to develop the business

Middle East and Africa QBE

Hard market impacting capacity in Africa: ASR

Global reinsurers are redirecting capacity to other markets, leading to shortages across many lines in Africa, Mikir Shah says

Middle East and Africa Reinsurance

Insurers pull capacity from DRC oil exploration

Re/insurance for the oil blocks on offer is deemed to be expensive due to the shrinking primary insurance available to oil and gas companies, environmental group says

Congo (Democratic Republic) Casualty

International reinsurers warned on South Africa grid failure risk exposure

The local South African insurance market has largely excluded grid failure risk because of the country’s unstable power infrastructure but some large accounts led by international markets are thought not to be carrying the exclusions, giving rise to the threat of significant loss aggregation

South Africa Specialty

Antares Global premiums drop 22% in H1

Parent company QIC is moving away from high-severity and volatile international risk

London Qatar Insurance Company

Perils increases Turkey earthquake estimate

The loss aggregator has estimated insured losses of $4.9bn at February exchange rates

Turkey Property
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