Best’s Market Segment Report: Longstanding MENA Reinsurers Demonstrate Resilience in Tough Market Conditions
The report, titled, “Longstanding MENA Reinsurers Demonstrate Resilience in Tough Market Conditions,” states the impact of the competitive landscape has been more keenly felt amongst regional reinsurers that lack the scale and diversification of their foreign counterparts, coupled with “following” market practices that restrict their ability to dictate terms. Nevertheless, larger established regional reinsurers continue to weather the storm, focusing on bottom-line profitability and portfolio optimisation.
The report adds whilst there are undoubtedly challenges, the MENA region remains an attractive growth prospect, with underlying insurance market growth and low penetration rates remaining key drivers. The economic outlook for MENA countries is set to benefit from recent increases to hydrocarbon prices.
To access a complimentary copy of this report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=278186.
Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
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Aneela Mather-Khan, CA, +44 20 7397 0319
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