The Dubai World Insurance Congress began just two weeks after unprecedented levels of rain in the UAE. The risk landscape in the MENA region is volatile with significant developments in political violence, Nat CAT and economic uncertainties.
Growth prospects for the insurance sector remain plentiful in the insurance markets of the Gulf Cooperation Council (GCC), said global credit rating agency AM Best.
Insurance companies are willing to insure industrial and commercial facilities that take risk mitigation measures, according to Minister of State for Financial Affairs Mohammed bin Hadi Al-Husseini.
Fraud in the motor insurance branch is estimated to cost insurers 4% to 5% of overall turnover in Morocco's insurance sector.