Magazine

Read the latest edition of AIR and MEIR as an Interactive e-book

Jun 2026

Middle East conflict


Giga-projects, Nat CAT & Iran war: Riyadh Re's 3-pronged strategy for a shifting ME

Saudi Arabia’s insurance sector is undergoing a profound structural shift, driven by state-backed giga-projects and an aggressive green energy mandate. At the same time, the dual pressures of regional conflict and climate change are sharply reshaping the local reinsurance landscape.
 

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MENA insurance market set to soar on reconstruction upside

The ongoing instability in the Middle East region is viewed as a temporary phase, with significant opportunities for growth awaiting the insurance market in MENA. Reconstruction efforts are expected to spur investments across the region, which will positively impact the insurance industry.
 


News Snippets

Major reinsurers spell out their approach to Iran war

Several reinsurance companies have outlined their approach for dealing with the likely impact of the Middle East war in their 2026 first-quarter financial reports. The following summarises statements made by a few leading reinsurers: 
 

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Trapped assets in the ME region unlikely to trigger claims

The hostilities in the Middle East have triggered a surge in discussions and notifications regarding Constructive Total Loss (CTL), but these have not yet translated into a material rise in accepted claims. The industry is seeing a trend where assets remain physically undamaged but are effectively “trapped” in conflict zones.
 

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Iran war upturns marine and war risk insurance reality

War risk coverage is undergoing a significant shift in the wake of the Iran war, according to Ms Maali bint Salim al Majarfi, Oman Financial Services Authority’s Acting Director of the Issues and Financial Instruments Department. 
 

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