European insurers look with interest towards the Omnibus II directive, a step towards implementing Solvency II. A.M Best analyses this major development. The signing of the Omnibus II directive is significant step toward the adoption of Solvency II, although any further delay to the new insurance legislation will add additional...
Demand for terrorism cover is likely to increase in East African countries after the recent terrorist attack in Nairobi, according to a recent analysis by A.M Best. Businesses in Kenya and other countries of the East African Community (EAC) will seek further cover, given the proximity of the attacks that...
Insurers in the UAE are forecasted to see strong continued growth in 2013, despite a projection that its economy will expand at a slower pace, reflecting a reduction in oil output. Premium presents a synopsis of A.M. Best’s UAE insurance market report. The insurance sector has been buoyed by the...
As the insurance industry across the globe struggles to pick up pieces after the financial crisis, Africa seems to be moving high and up the crest. In conversation with Michael Jensen, Head of Commercial Lines at AIG Arabia, Premium learns about insurance opportunities in Africa. The South African insurance market...
Premium takes a closer look at A.M. Best’s market review on Kuwait to learn that insurers are currently awaiting potential developments in the regulatory landscape. Kuwait’s insurance regulation is believed to be underdeveloped, particularly with the absence of relevant company acts or specific regulation for Takaful companies. Discussions are underway...
Many insurers in the Kingdom of Saudi Arabia are reporting deteriorating underwriting results at a time when the market’s growth is slowing. Sinchita Mukherjee from Premium takes a closer look at A.M. Best’s report authored by Mahesh Mistry to know why. In recent years, the market’s combined ratio, as a...
Sinchita Mukherjee from Premium summarizes A.M. Best’s report on Oman. Continued growth is forecasted for Oman’s insurance market, but new Takaful licensing regulation is expected to generate additional competition for an already crowded market. It is expected that underwriting profitability challenges could lead some insurers to exit, while...
Sinchita Mukherjee from Premium presents a summary of the insurance market in the Gulf and in the wider region for 2013. Slump in the economy: The bigger concern for all major financial institutions, insurers, brokers and reinsurers is that future simultaneous shocks to both the global economy and the environment...
The African insurance and reinsurance market offers potential for growth, given the economic development in the region. Each country has different drivers for heightened insurance demand, ranging from economies dominated by the oil, gas and mining industries, to large populations. Premium presents a synopsis of A.M. Best’s briefing on the...
Shivash Bhagaloo, FIA Consulting Actuary, Lux Actuaries and Consultants diagnoses the current motor and medical scenario in Bahrain and performs an analysis of these fiercely contested lines, which together account for 54 percent of the General Insurance (GI) market by 2011 Gross Written Premium (GWP). The Bahrain General Insurance (GI)...
