GCC Insurance Daily
The day's insurance news across the GCC: regulation, governance, AI in insurance, and people moves. Curated, attributed, and linked to the source.
Top story
Saudi Arabia's Shura Council has asked the Insurance Authority to examine why older citizens struggle to obtain adequate cover, and to address wider gaps in the market. It is a useful read on where the regulator's consumer-protection agenda is heading as the sector scales.
Moody's has given PureHealth's insurance arm, Daman, an A1 insurer financial strength rating with a stable outlook, which it notes is the highest it has assigned to any GCC insurer across life, P&C and reinsurance. The grade rests on Daman's scale in UAE health, its capital position and reinsurance support, and firms up PureHealth's move deeper into insurance.
With a US-Iran memorandum of understanding in place, UAE insurers are cautiously optimistic about a swift recovery, with Gargash Insurance pointing to the economy's underlying resilience. War-risk pricing around the Strait of Hormuz spiked during the flare-up, so a durable de-escalation matters as much to marine and energy books as to the wider economy.
Gallagher Re has appointed Shreyaa Vohra, previously at Price Forbes, to run its facultative business from the DIFC. Another senior fac hire in Dubai underlines how firmly the reinsurance brokers are building out the emirate as their regional hub.
An unnamed Kuwaiti insurer has awarded Newgen Software a KWD 875,000 contract to replace its policy administration system, bundling licences, implementation and five years of support. Core-system replacements like this are the unglamorous backbone of the region's digitisation, and a sign that MENA insurers are steadily moving off legacy platforms.
Each item is a short editorial summary with a link to the original source. Items marked Rumour · unverified are unconfirmed and should be treated with caution. Compiled automatically; corrections welcome.