Country Profile

GCC

In pursuit of stability and sustainable growth

The GCC region is the main growth engine for the MENA insurance industry, with its wealthy states and supportive demographics. Despite the prevailing headwinds, the markets are expected to hold up well.

New life script in the GCC to take flight

Life insurance business in the GCC accounts for a modest portion of the region’s gross premiums, but the future bodes well as regulators are changing the rules of the game and governments are considering a greater role for the private sector.

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Reinsurers feeling the heat

The reinsurance landscape in the region has seen serious difficulties in the past year and companies need to be extra vigilant in deploying capacity and managing risks.

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Stable outlook amidst potential headwinds

Following a year of slower growth, the UAE and Saudi insurance markets should remain relatively stable this year. Middle East Insurance Review caught up with S&P Global Ratings director of financial services Emir Mujkic to find out what’s in store for the GCC markets.

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