April 24, 2019

Market Surveys

Market Surveys
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Insurance CFOs Voice Concerns

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...

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The Road Ahead

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...

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A Positive View

AM Best recently revised its outlook of the GCC insurance markets from negative to stable for a number of reasons. AM Best revised its outlook on the insurance markets of the Gulf Cooperation Council (GCC) to Stable from Negative. Key factors supporting the outlook include the following: Settling down of...

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Growth Engines

The emerging markets will remain positive in terms of growth in the global economy, with a shift of economic power to continue from West to East, according to a recent Sigma report by Swiss Re. The emerging economies are forecasted to account for 60 percent of global growth in 10...

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‘Focus on ERM’

While many of the Middle Eastern and African rated insurers are well capitalised to offset regional risks, their ERM approaches relating to governance practices need more consideration, according to AM Best’s latest report. Although suppressed oil prices have impacted the economies of countries in the Middle East and Africa region,...

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Liquidity Issue Continues

Insurers looking to augment constrained technical returns will seek to increase their cash collection and deploy it in income-yielding assets, according to A.M. Best’s latest report. The old adage “cash is king” continues to hold true in modern times, particularly in the insurance industry. Insurers looking to augment constrained technical...

Country Focus – Oman

The Oman insurance industry has been growing from strength to strength owing to regulations and strategies that are aligned to sustainable development.          

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Pricing Woes Remain for 2019

2019 may have a renewed focus on alternative third-party capital, along with an emphasis on underwriting discipline, according to A. M. Best. A.M. Best has forecast a negative outlook for the non-life reinsurance sector owing to a continued competitive market environment where pricing has hit rock bottom. In their latest...

Much Progress Ahead

While 2017 may not have been the best year in terms of profitability of the insurance industry, the new motor regulations and other amendments will see the insurance market being impacted.

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MENA Reinsurance: Still Robust

A.M. Best examines the reinsurance market in the Middle East and North Africa region and affirms the resilience of the industry. The Middle East and North African (MENA) reinsurance industry is characterised by its challenging market conditions, borne out of unabating pressure on pricing, overcapacity, and a higher-than-expected number of...

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