Global trade credit insurance company, Atradius, says that Qatar is the country among the six GCC states that is most exposed to the on-going military escalation in the Middle East.
The combined net profit of 75 listed GCC insurers remained steady at $1.7bn in the first nine months of this year (9M2025), with mirroring trends from the first half of the year, according to a report by research and consulting firm Insurance Monitor and Lux Actuaries and Consultants.
The 20th Gulf Insurance Forum (GIF) concluded with a series of strategic recommendations for insurers and reinsurers across the GCC, underscoring the need to keep pace with fast-evolving regional and global developments.
Gulf Insurance Group (Gulf) [GIG Gulf)] has demonstrated improvement in its underwriting results over the first six months of 2025, due to the company focusing on higher margin products and exiting from poorly performing business, AM Best says. The insurer's combined ratio is expected to return to a good level in the coming years.
The insurance markets in the GCC are witnessing profound transformation in various aspects of their operations, with growth expected to continue in the current year, propelled by several favourable factors, participants of the 20th Gulf Insurance Forum in Dubai were told.
The Islamic insurance sector in the GCC will continue to benefit from positive growth prospects through 2025 and 2026, forecasts S&P Global Ratings (S&P) in a white paper.
While total net profit across 76 listed GCC insurers held steady at $1.2bn in 1H2025, the overall performance was weighed down by Saudi insurers, who saw profits decline by 40.3%, with only six out of 25 recording higher earnings, according to a report by research and consulting firm Insurance Monitor and Lux Actuaries and Consultants.
There is growing recognition of the importance of financial security in the workplace in the GCC, with the average age of those with income protection falling to 41 from 51 over the last three years, according to Zurich International Life Insurance Middle East, a subsidiary of Zurich Insurance Group.
Listed GCC insurers saw overall earnings decline in 1Q2025, with net profits slipping by 1.4% to $628m from $637m in 1Q2024, according to a report by research and consulting firm Insurance Monitor and Lux Actuaries and Consultants.
Despite headwinds including severe weather and the UAE's new 9% corporate tax, 78 listed GCC insurers reported a total after-tax profit of $2.1bn in FY2024, according to the latest "GCC Performance Periodical" by research and consulting firm Insurance Monitor and Lux Actuaries and Consultants.