Reality check for MENA's insurers
Título: Reality check for MENA's insurers / Garry Booth
Autor: Booth, Garry
Notas: Sumario: Insurance markets in the Middle East and North Africa (MENA) have been knocked sideways by the fall in oil prices. But they might come back stronger, eventually. The medium term economic forecasts areconsistently gloomy, oil prices are stuck in low gear and the region¿s political situation remains unpredictable. Commentators have been forced to revise their outlook forecasts for the insurance sector. It means that the region¿s insurance markets, buoyed for the last decade by growing insurable risk derived from government and private investment in energy, infrastructure and industrial development, must now adjust to accommodate retrenchment across all sector. But reinsurers too are finding that the MENA markets are softening in line with the global trend, again thanks to overcapacity. Willis recently reported that the risk lossfree rate in MENA fell by 10% while the catastrophe lossfree rate declined by 12% at the January 1 2016 renewals?
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