Cover Story

Reinsurance

Persisting overcapacity has been the key reason for ongoing soft market conditions in the last 12 months. Despite the ‘survival of the fittest’ operating environment, reinsurers in the Middle East remain optimistic about the industry’s growth prospects as government spending picks up and oil prices go up.

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The InsurTech challenge

The possibilities and opportunities of new technologies such as blockchain can have a real and beneficial impact on the reinsurance markets in the MENA region, says Mr Hatem Jabsheh of International General Insurance (IGI). However, more needs to be done to push the digital revolution forward both in MENA and globally before the true benefits of InsurTech can be realised.

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Expanding capabilities: Saudi Re

As Saudi Arabia’s sole local reinsurer, Saudi Cooperative Reinsurance Co (Saudi Re) is firming up its standards to open new markets and further consolidate its position as a reliable solution provider, says the company’s managing director & CEO Fahad Al Hesni.

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