Consolidation within the GCC insurance market would help improve the operational scale and capital base of companies, states S&P latest report. Plans within individual regulatory bodies to increase minimum capital requirements would lead to consolidation in the GCC takaful and cooperative insurance industries. Historically these industries have seen weak profitability,...
In spite of a few offsetting factors, Bahrain still has one of the best insurance markets in the region, in particular, a well-developed takaful regulatory environment, according to AM Best. The Bahraini market has seen a number of M&A deals in recent years, with companies looking to obtain market share...
While global growth weakens, direct premiums surpassed the USD5 trillion mark and emerging markets such as the Middle East and Africa markets are set to grow considerably, according to Swiss Re’s latest Sigma report. Real gross domestic product saw a hike by 3.2 percent, supporting the insurance sector in the...
Swiss Re’s latest insights on insurance linked to remittances provides an arena of possibilities for the industry. Remittances have always been considered an important element that impacts economic growth over a long term. According to Swiss Re’s latest insight, remittances to low- and middle-income countries are now larger than official...
Will motor insurance line of business prove to be a challenge for the rest of the industry? Hatim Maskawala and Manaal Siddiqui explain the status quo in the sector. Despite pressure from stagnant premium growth and profitability, the loss and combined ratios of the UAE insurance industry continue to present...
UAE companies are slowly closing the gap with their conventional peers, states AM Best’s latest report. The Takaful segment’s profitability has improved significantly in recent years. AM Best’s analysis of the preliminary disclosures of the nationally-listed Takaful operators on the Abu Dhabi Securities Exchange and the Dubai Financial Market shows material...
Cigna’s latest 360o Well-Being Survey sheds light on heart health as 32 percent respondents believe heart blood pressure is not curable with lifestyle change. Heart health has emerged as a key concern according to the recently launched Cigna 360o Well-Being Survey. Now it in its third year, the survey indicates...
In it’s latest report, S&P Global Ratings has estimated that the insurance market in the Kingdom of Saudi Arabia saw further decline in 2018. After 32 of the 33 listed re/insurance companies in Saudi Arabia have published their end-2018 financial reports, S&P Global Ratings, in it’s latest report, gauges that...
Moody’s latest survey captures the insurance industry sentiment for the year with respect to regulatory landscape, consolidation, pricing and technology investment. Moody’s 2019 annual survey of 12 chief financial officers (CFOs) of leading rated insurance companies within the GCC voices concerns that relate to the industry. Ranging from a competitive...
S&P Global predicts a tougher year ahead ridden with higher operating costs and more stringent accounting standards. GCC economies have slowed over the past two years, due to fewer government-led projects resulting from lower oil prices. A modest pickup in GDP growth across the region in 2019 will not necessarily...
