Saudi Arabia's sole local reinsurer saw its profits surge by 226% in the first quarter of 2019 against the corresponding quarter of the previous year despite 19.7% drop in GWP.
Terrorism risks across the Middle East and North Africa (MENA) have decreased in line with the collapse of Islamic State. However, risks persist to the energy sector, particularly oil and natural gas facilities, says Marsh, the world's leading insurance broker and risk adviser.
Insurance group Bahrain National Holding (BNH) has become a major shareholder in Health 360 Ancillary Services, which provides health insurance claims management services.