Alpen Capital’s latest report focuses on the current state of the insurance industry across the GCC nations, including recent trends, growth drivers and challenges. The GCC insurance industry, which maintained a positive momentum over the years, witnessed a muted growth in the gross written premiums during the past two years...
AM Best is monitoring the high risk environment in Lebanon which have potential to further escalate, according to a recently released report. Following recent protests in response to political leaders’ inability to resolve the country’s economic deadlock, the impact of heightened economic and political risk on insurers in Lebanon is...
While local companies are still lagging their global counterparts when it comes to workplace savings plans, governments and regulatory authorities are pushing for reform, states Zurich International Life’s latest End of Service Benefits (EoSB) Survey. Amidst the news of the Dubai International Finance Centre (DIFC) soon embarking on introducing a...
Subdued premium growth will continue to add pressure on profitability, particularly for smaller players in Saudi Arabia, resulting in run-off activity should a new regulation on minimum capital kick in, states Moody’s. Moody’s expects more insurance firms in KSA to get into run-off than consolidation efforts owing to lack of...
Opportunities lie in store amidst challenging operating conditions for reinsurers in the MENA region, according to AM Best’s latest report. The (re)insurance markets in the Middle East and North Africa have remained within challenging circumstances, driven by overcapacity and increase in large losses. However, the reinsurance activity has shifted owing...
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...
