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GCC catastrophe ‘could call for huge recapitalisation’A single large catastrophe event with the same severity as the Super Cyclone Gonu in 2007 across the GCC would have resulted in an estimated third of all companies requiring recapitalisation, said an industry expert. “Had Go More… |
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Mena reinsurers ‘planning to stabilise earnings’While domestic markets remain important to Mena reinsurers they are also looking further afield for diversification in order to stabilise earnings against the uncertainties and volatility of their local markets, a report said. Ins More… |
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A M Best upgrades credit ratings of Dubai InsuranceA M Best, a top insurance rating and information source, has upgraded the Financial Strength Rating to A- (Excellent) from B++ (Good) and the Long-Term Issuer Credit Rating to “a-” from “bbb+” of Dubai Insurance Company ( More… |
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Overcapacity weighing down Mena insurersThe influx of reinsurance capacity in the Mena region and the prevailing competitive market conditions has begun to place pressure on the technical performance of regional reinsurers, a report said. The low level of insurance pene More… |
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Takeovers likely to continue in insurance sectorMerger and takeover activity is likely to continue in the coming months as (re)insurers increasingly seek ways to deploy capital and create scale against a backdrop of ongoing soft market conditions and weak investment returns, a report said. More… |
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M&A 'gaining pace in Mideast insurance sector'Merger and acquisition (M&A) activity and stakebuilding is gaining momentum in the Middle East as financially strong and profitable insurers seek to deploy surplus capital to broaden their profiles and satisfy shareholders’ expectation More… |
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Adnic wins top ratings from international agenciesAbu Dhabi National Insurance Company (Adnic), a leading provider of insurance solutions for individuals and corporates, has won an A (excellent) rating with a stable outlook and an A- rating with a positive outlook from leading international age More… |
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Sluggish economy may hit GCC insurance growthThe growth of the insurance markets within GCC will continue in 2013, although at a reduced pace, as economic growth remains relatively modest this year, according to a new report. The report, titled “GCC Insurance Markets B More… |
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Kuwait insurers ‘facing regulatory changes’Kuwait’s insurance market is experiencing a period of uncertainty, as premium growth has been volatile in recent years, and insurers currently await potential regulatory developments, a report said. While Kuwait’s tota More… |
