Despite geopolitical challenges and tough business environment, the majority of insurance CEOs and top executives in MENA are optimistic about the future of business and potential growth in the region over the next three to five years, according to the findings of a survey conducted by Saudi Reinsurance Company (Saudi Re).
Saudi Re CEO Ahmed Al-Jabr revealed the results of the survey during a General Arab Insurance Federation (GAIF) webinar held on 17 September 2025 with the theme “Insurance in the Arab World by 2030”.
The survey respondents included 35 CEOs and top executives representing 11 Arab insurance markets. Four in five (82%) of the respondents are optimistic about the outlook for the next 3-5 years. A quarter (25%) believe that the region is going to witness strong growth and robust expansion across most sectors, while 57% expect moderate growth, or steady but unspectacular progress.
Four percent of respondents expect minimal growth with stagnation or very slow expansion. Another 4% expect a recession, contraction or significant slowdown. The remaining respondents (11%) are uncertain and find it difficult to predict the outlook for the period.
Moreover, regarding the impact on operators’ performance, 25% of respondents expect the economy to have strong tailwinds, supporting revenue growth and profitability; 57% predict a boost, though partially offset by prevailing headwinds; 4% say that significant pressure expected on revenue, profitability and competitiveness, 11% anticipate headwinds may constrain growth and weigh on performance; and the reminder 4% project a minimal effect with performance to remain broadly stable.
On growth expectations, 52% of respondents expect their organisations to grow by 10% or more; 45% expect a growth rate between 5% and 10%; the remaining 3% expect to see less than 5% growth.
The survey addressed five aspects, including economic outlook and growth prospects; product expansion and market penetration; impact of giga projects and competition; growth drivers; and reinsurance access.
Key takeaways
In light of the survey findings, Mr Al-Jabr listed important takeaways to consider, including:
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Insurance leaders recognise the region’s potential for growth driven by economic progress with offsetting factors due to global economic uncertainties and regional geopolitical challenges
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Economic growth is creating significant opportunities for the insurance sector; yet insurers face the dual challenges of responding effectively amid increasing pricing pressures and an intensifying competitive landscape
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However, meeting rising demand will test their technical expertise, underwriting sophistication, product innovation, digitisation and investment in human capital, which at present have room for enhancement and upskilling,
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Growth is underpinned by access to capital, which emphasises further focus on investors’ propositions, while reinsurance capacity remains important. The Arab reinsurance market can play an enabling role in delivering the required solutions.
The webinar is the 15th of GAIF’s series of virtual events and was attended by over 300 participants.