A.M. Best Joins 2nd Annual Bancassurance Conference for Middle East & Africa in Dubai, United Arab Emirates

A.M. Best participated in the 2nd Annual Bancassurance Conference for Middle East & Africa, held 19-20 May in Dubai, UAE.

According to a release, A.M. Best was represented by Vasilis Katsipis, General Manager - Market Development, A.M. Best MENA South & Central Asia, who spoke on the "Importance of Ratings to Bancassurance" on 19 May.

Mr Katsipis said: "Bancassurance developments in the Middle East are lagging behind those in Europe and the Far East. Policyholder protection is taken for granted in these early stages of the market development. Yet, there have been cases of insurer impairment due to regulatory intervention in the region. Insurer impairment in a bancassurance structure is detrimental to policyholder liabilities and can adversely affect the counterparty bank."

A.M. Best Europe - Rating Services Limited is a subsidiary of A.M. Best Company, an insurance rating and information source.

More information:

www.ambest.com/ratings

www.uni-global.eu/en/event/2014-154

www.ambest.com

((Comments on this story may be sent to [email protected]))