Deteriorating economic conditions, low premium rates and elevated loss experience from property and commercial risks are pressurising earnings for MENA reinsurers, according to A.M. Best’s latest report. Insurance markets in the Middle East and North Africa (MENA) region have grown significantly over the past decade. MENA insurance premiums surpassed USD52...
The Egyptian insurance market is currently undergoing regulatory change and influenced by challenges affecting the country. A Premium report. Heightened political activity, security risk, reduced economic activity and increasing unemployment has put Egypt under close watch. Following more regulations in the insurance industry and large-scale infrastructure projects that will facilitate...
Low commodity prices, political instability to stall growth prospects of the African insurance market, according to A.M. Best’s latest report. The fallout from low commodity prices, the slowdown of China’s economic activity and the impact of monetary tightening by the US Federal Reserve, are just a number of global issues...
Among the smaller markets in the GCC, Kuwait offers much scope for the growth of insurance. A Premium report. With the oil prices taking a beating, the GCC countries come under focus all the more. Kuwait is one of the countries that are still dependent on oil resources. However, accumulated...
Oman is among the GCC countries hard hit by plummeting oil prices. Will the move to diversification away from oil avail opportunities for the insurance industry? A Premium report. Oman one among the GCC, has also been hard hit by the depreciating oil prices that is being witnessed globally. Historically,...
Legislative shortcomings, political scenarios and economic hindrances pose a challenge to Lebanon’s insurance industry. A Premium report. Weighed down by political and economic woes, it comes as a surprise that the Lebanon insurance industry is still showing some of the resilience (if not more) that was shown in 2014. No...
Low oil prices and political instability have not influenced the insurance sector of the Kingdom of Saudi Arabia yet, but long term indications remain. A Premium report. The Kingdom of Saudi Arabia has always been seen as an economic giant in the region and one of the key influencers of...
Bahrain’s insurance industry has seen five percent growth from the previous year. Premium takes a look at the country to identify key elements that are seeing progress. Reporting five percent growth with respect to 2013, the Bahrain insurance industry is doing very well for itself. This can be mainly attributed...
Swiss Re’s annual (re)insurance outlook depicts a strengthening economy that will support industry growth in the next two years. A Premium report. Reinsurer Swiss Re’s economic outlook for the years 2016 and 2017 is positive, with non-life insurance showing a marked increase. Emerging markets will be the main driver with...
The UAE insurance industry is undergoing restructuring in the bid to becoming a stronger market with sustainable growth. A Premium report. Among the GCC entities the UAE insurance market is by far the largest. While it may be among the largest, it is certainly lacking in many aspects in comparison with...
