The UAE insurance sector continued to grow in Q4-2023, as reflected by increase in the gross written premiums. As of year-end, the number of licensed insurance companies in the UAE remained at 60, according to the Central Bank of the UAE's (CBUAE) Quarterly Economic Review (Q4-2023). The insurance sector comprised 23 traditional national companies, 10 Takaful national and 27 foreign companies, while the number of insurance related professions remained at 491. The review on insurance sector structure and activity showed that the gross written premium increased by 12.7% Y-o-Y in Q4 2023 to AED 53.2 billion, mostly due to an increase in health insurance premiums by 16.5% Y-o-Y and an increase in property and liability insurance premiums by 18.9% Y-o-Y, while the insurance of persons and fund accumulation premiums decreased by 12.4% Y-o-Y, resulting primarily from decrease in individual life premiums. Gross paid claims of all types of insurance plans increased by 12.8% Y-o-Y to AED 31.1 billion at the end of 2023. This was mainly driven by the increase in claims paid in health insurance by 16.9% Y-o-Y and increase in paid claims in property and liability insurance by 10.9% Y-o-Y, partially offset by the decline in claims paid in insurance of persons and fund accumulation by 2.8% Y-o-Y. The total technical provisions of all types of insurance increased by 8.4% Y-o-Y to AED 74.4 billion in Q4 2023 compared to AED68.6 billion in Q4 2022. The volume of invested assets in the insurance sector amounted to AED 76 billion (60.4% of total assets) in Q4 2023 compared to AED 71.4 billion (59.4% of total assets) in Q4 2022. The retention ratio of written insurance premiums for all types of insurance was 52.9 % (AED 28.1 billion) in Q4 2023, compared to 54.9% (AED 25.9 billion) at the end of 2022. The UAE insurance sector remained well capitalized in terms of early warning ratios and risk assessment. Own funds to minimum capital requirement ratio increased to 335.7% in Q4 2023, compared to 309.3% at the end of 2022, due to an increase in own funds eligible to meet the minimum capital requirements. Also, own funds to solvency capital requirement ratio rose to 221% in Q4 2023 compared to 208.5% in Q4 2022, due to an increase in own funds eligible to meet solvency capital requirements. Finally, own funds to minimum guarantee fund ratio reached to 316.3% at the end of 2023 down from 314.6% a year earlier, due to higher eligible funds to meet minimum guarantee funds. In terms of profitability, the net total profit to net written premiums increased to 6.5% in Q4 2023, compared to 2.9% at the end of 2022. The return on average assets increased to 0.3% in Q4 2023 compared to the 0.1% at the of the previous year.

WhatsApp beta version 2.24.14.20 has a new feature that allows users to share photos with Meta AI. The AI chatbot will analyze uploaded images and provide information or context about the content. Users may be able to request specific edits to their photos directly through Meta AI, though the extent of this feature is still unknown. As the battle for AI dominance heats up, Meta is adding a new trick to its AI chatbot, Meta AI, which is already part of Facebook, Instagram, and WhatsApp. While Meta AI already has impressive text capabilities, such as replying to questions, suggesting captions, and holding conversations, users cannot currently share or upload photos to the Meta AI chat. WaBetaInfo has uncovered the exciting new feature in the WhatsApp beta for Android version 2.24.14.20. This feature will allow Meta AI to interact with photos shared by users, reply to photos, and even edit them. As shown in the attached screenshot, WhatsApp is testing a new camera button in the Meta AI chat, designed to function similarly to the camera button in regular chats. This addition will allow users to manually share photos with Meta AI, a capability that is currently unavailable. With this new functionality, users will be able to ask questions about their photos, presumably allowing users to ask the AI to identify objects or locations or provide context about the photo’s content. Moreover, the screenshot suggests that Meta AI will also offer the option to edit photos, enabling users to make changes to their images directly within the chat by sharing a prompt. The exact scope of this image editing feature remains unclear, leaving us to wonder if it will be limited to simple tweaks or if it will unleash a powerful AI-driven photo editing suite. The possibilities are both exciting and intriguing, and this feature could definitely be a big hit, especially if it performs as promised. While this new image-sharing feature would mean Meta will analyze and face-scan the photos you upload, the screenshot includes a disclaimer indicating that users will have the option to delete their photos whenever they want. As of now, it seems that the feature is still in development, so it might be some time before we finally get to see it roll out publicly. Recently, we also reported about WhatsApp working on an “Imagine Me” feature that would allow Meta AI to generate AI avatars of you based on a set of your photos. WhatsApp in our newsletters WhatsApp is a leading messaging app, keep up to date on the latest, and learn about more Android apps today!

On July 8, local time, former British Prime Minister Sunak announced the appointment of the Conservative Party Shadow Cabinet, which is the first shadow cabinet of the Conservative Party in 14 years. Several former British cabinet members during Sunak's tenure as prime minister were appointed to the Conservative Party Shadow Cabinet, including James Cleverly as Shadow Home Secretary and Jeremy Hunt as Shadow Chancellor of the Exchequer. But former Foreign Secretary Cameron was not appointed as Shadow Foreign Secretary. In addition, the new leader of the Conservative Party will be elected as early as this week. On July 4, the UK held a parliamentary election. The counting results showed that the British Labour Party won more than half of the seats and won an overwhelming victory; the Conservative Party suffered a disastrous defeat, ending its 14-year continuous rule.

RS e-tron GT: Shares J1 platform with Porsche Taycan. The iconic closed hexagonal "big mouth" is quite a brand recognition, and the rear of the car uses a decorative design shaped like a diffuser. Although the difference between it and the regular e-tron GT is very limited, the "RS" nameplate on the rear of the car means that it is not an ordinary person, of course, low-key is also the style of AUD-Sport. The center console continues the family design of the Audi brand, the lines are simple and refined, and the center control screen, the front air conditioning control panel and the function keys below are obviously tilted to the driver's side, echoing the product positioning of the driver's car. Sports seats, leather fabrics with red stitches, etc. appear in the configuration table of the car, rendering the interior sports atmosphere just right, and the overall beauty of the cabin has been affirmed by the reviewers. Although the official model of the cockpit chip selected by the car has not been announced, it has a high score in the evaluation items such as the cold start speed of the car, the start speed of the core application and the navigation search speed, which shows that the car performance is good. In addition, in terms of specifications and accuracy, the car received full marks in the touch accuracy and screen sharpness evaluation, and the daily high-frequency interaction experience is excellent. Of course, if you optimize the voice car control ability, its intelligent experience will be a higher level.

Iran's President-elect Masoud Pezeshkian reiterated Iran's anti-Israel stance on Monday, saying resistance movements across the region will not allow Israel's "criminal policies" against Palestinians to continue. Pezeshkian told Hassan Nasrallah, the leader of Iran-backed Lebanese Hezbollah, that "the Islamic Republic will always support the people of the region in their resistance against the illegal Zionist regime." This suggests that the incoming government will not change its regional policy under the relatively moderate Pezeshkian, who defeated his hard-line opponent in a runoff election last week. Pezeshkian was quoted as saying by Iranian media, "I am sure that the regional resistance movement will not allow this regime to continue its militant and criminal policies against the oppressed people of Palestine and other countries in the region." The Shiite Muslim Hezbollah and the Palestinian Sunni Muslim Hamas are both part of the local "resistance axis" faction organization supported by Iran. Israel did not immediately comment on Pezeshkian's speech. Hamas led an attack on southern Israel on October 7. According to Israeli statistics, Hamas killed 1,200 people and kidnapped about 250 hostages, triggering the Israeli-Palestinian war. The Gaza Health Ministry said that the Israeli military attack killed more than 38,000 Palestinians and injured nearly 88,000 people.