Latest news with #Al-Tamimi
Yahoo
27-05-2025
- Business
- Yahoo
Saudi Insurance Authority revokes licences of several insurance companies
The Saudi Insurance Authority (IA) has taken action to revoke the licences of 28 insurance and brokerage companies. This move is part of a broader strategy to stabilise and improve the performance and credibility of the insurance sector in the country. According to a Saudi Gazette report, these decisions are grounded in the Cooperative Insurance Companies Control Law and other relevant regulations. The revocations are the culmination of a series of corrective measures that began on 28 August 2024. They aim to protect the rights of insured individuals and beneficiaries while promoting financial stability within the sector. The companies affected by these licence revocations include Shire Insurance Agency, Al-Bulurat Insurance Brokerage Services, Al-Sabil Asia Insurance and Reinsurance Brokerage, Al-Aman Insurance and Reinsurance Brokerage, and Future Vision Insurance Brokerage. The list of companies whose licences have been terminated extends to Ahed Saudi Insurance Agency, Al-Rabt Saudi Insurance Brokerage, Aman Gate Insurance Agency, Fursan Insurance Agency, Insurance Management for Insurance Agency, Laval Insurance Brokerage, Panorama Elite Insurance Agency, Saudi Agents Insurance Agents, Saudi Shield Insurance Agency and Takaful Amanah Cooperative Insurance Agency. Eng. Naji Al-Tamimi, CEO of the Insurance Authority, previously indicated that the IA is considering the elimination of health insurance pre-approval systems. These systems are designed to confirm medical necessity and mitigate health risks but have faced criticism for causing delays detrimental to beneficiaries. Al-Tamimi also mentioned that the Authority plans to start publishing performance indicators including the complaint rate in relation to the number of individual health and motor insurance policyholders for each insurance company. Earlier this year, insurance brokerage Willis Towers Watson was granted a licence to operate as a reinsurance broker in Saudi Arabia. "Saudi Insurance Authority revokes licences of several insurance companies" was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Saudi Gazette
25-05-2025
- Business
- Saudi Gazette
Saudi Insurance Authority strips licenses from 28 insurance firms in sector shake-up
Saudi Gazette Report RIYADH — The Insurance Authority (IA) has issued final decisions to revoke the licenses of several insurance and brokerage companies operating in Saudi Arabia, as part of broader corrective measures to stabilize and enhance the sector's performance and credibility. The decisions, based on the Cooperative Insurance Companies Control Law and relevant regulations, follow a series of actions initiated on August 28, 2024, and are intended to safeguard the rights of insured individuals and beneficiaries while supporting financial stability. Among the companies whose licenses have been revoked are Shire Insurance Agency Company, Al-Bulurat Insurance Brokerage Services Company, Al-Sabil Asia Insurance and Reinsurance Brokerage Company, Al-Aman Insurance and Reinsurance Brokerage Company, and Future Vision Insurance Brokerage Company. Additional firms affected include Aman Gate Insurance Agency Company, Laval Insurance Brokerage Company, Ahed Saudi Insurance Agency Company, Al-Rabt Saudi Insurance Brokerage Company, Fursan Insurance Agency Company Limited, Saudi Agents Insurance Agents Company, Insurance Management Company for Insurance Agency, Saudi Shield Insurance Agency Company Limited, Panorama Elite Insurance Agency Company, and Takaful Amanah Cooperative Insurance Agency Company Limited. Earlier, Eng. Naji Al-Tamimi, CEO of the Insurance Authority, stated that the IA is currently evaluating the possibility of removing health insurance pre-approval systems that link beneficiaries, hospitals, and insurers. While intended to ensure medical necessity and reduce health risks, the approval process has been criticized for causing delays that harm beneficiaries. Al-Tamimi added that the Authority will soon begin publishing performance indicators, starting with the complaint rate relative to the number of individual health and motor insurance policyholders at each insurance company.
See - Sada Elbalad
14-05-2025
- Politics
- See - Sada Elbalad
Baghdad Gears Up to Host 34th Arab Summit Amid Unprecedented Stability
Ahmed Emam Iraq is witnessing heightened activity as the capital, Baghdad, prepares to host the upcoming 34th Arab Summit. According to Alqahera News, correspondent Heba Al-Tamimi, the city is undergoing extensive preparations to welcome leaders and delegations from across the Arab world. In a live phone-in with Alqahera News, Al-Tamimi stated that Iraq is currently experiencing a rare phase of security and political stability, which makes Baghdad fully equipped and ready to host what is being described as an exceptional summit. "The Arab Summit will focus on the major challenges facing the region, with the Palestinian issue expected to be at the forefront of discussions," Al-Tamimi explained. She also highlighted the sense of anticipation and pride among Baghdad's residents. "There is a festive atmosphere in the capital. Streets have been cleaned and beautified more thoroughly than in the past. The aesthetic transformation of Baghdad is truly impressive," she added. The 34th Arab Summit is expected to bring together leaders to address regional tensions, foster cooperation, and reaffirm commitments to joint Arab interests amid ongoing geopolitical shifts. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Egypt confirms denial of airspace access to US B-52 bombers Lifestyle Pistachio and Raspberry Cheesecake Domes Recipe News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War
Arab News
28-04-2025
- Politics
- Arab News
Iraq's counter-terrorism chief discusses security with Egyptian, Jordanian envoys
DUBAI: The head of Iraq's Counter-Terrorism Service, Lt. Gen. Karim Al-Tamimi, held separate meetings on Monday with the Egyptian and Jordanian military envoys to discuss ways to boost security cooperation. Al-Tamimi met with Egyptian military attache Col. Akram Sharif and Jordanian military attache Brig. Gen. Anwar Al-Bashbasha, according to a statement from the Counter-Terrorism Service. The meetings focused on strengthening cooperation, exchanging expertise and sharing perspectives on security issues between the three countries.
Leaders
13-04-2025
- Business
- Leaders
Saudi Arabia Targets $31.6 Billion Space Economy by 2035
Saudi Arabia's space economy reached $8.7 billion in 2024 with experts expecting it to grow to $31.6 billion by 2035. This insight comes from the recent Space Market Report 2025, released by the Communications, Space and Technology Commission (CST). The CST report highlights that the growth includes all value-added activities linked to technologies and services. Analysts project a compound annual growth rate (CAGR) of 12 percent. For 2024, the Kingdom's space market focused on commercial services was valued at $1.9 billion. By 2035, it should reach $5.6 billion, driven by increased investment in technologies and infrastructure. The report aims to track the growth trajectories of both domestic and global space sectors. It also highlights efforts to enhance competitiveness and identify investment opportunities. CST Governor Mohammad Al-Tamimi emphasized the leadership's strong support. This support accelerates investments and infrastructure development while enabling national talents. Aligning with Saudi Vision 2030 Al-Tamimi noted that these efforts align with Saudi Vision 2030. They aim to establish a competitive, sustainable space economy on both regional and international levels. Furthermore, Al-Tamimi stated that the analysis is part of CST's ongoing commitment to making the space sector a key economic driver. This growth also enhances the Kingdom's global standing in technology and innovation. The published report serves as a valuable resource for decision-makers, investors, and entrepreneurs. It helps them understand future trends and uncover promising growth opportunities within the sector. Key Movements in the Space Sector The study outlines several trends shaping the space industry, including an increase in Earth observation data analysis, infrastructure services, integrated communications systems, and advanced sensing technologies. Moreover, it highlights the rising development and deployment of small satellites. The expanding role of the private sector in both local and international space markets also signifies this growth. Globally, experts predict the space economy will explode from $687 billion in 2024 to $1.8 trillion by 2035. This represents an impressive CAGR of 9 percent. Additionally, the global space market is expected to surge from $176 billion to $377 billion, achieving a CAGR of 7 percent over the same period. Short link :
