MENA: Deutsche Rück expands life reinsurance business in region

Source: Middle East Insurance Review | Oct 2023

From 2024, Deutsche Rück will underwrite life reinsurance business in selected countries in the Middle East and North Africa. With this step, the group is continuing its strategy of gradual internationalisation of its business.

The reinsurer has been underwriting property and casualty reinsurance risks throughout Europe for the last ten years. Since 2020, it has expanded its international business to the markets of the Maghreb, the Middle East, Latin America and South, East and Southeast Asia.

In life reinsurance, Deutsche Rück will now diversify its life portfolio internationally, with a focus on the countries of the GCC. The selected target markets also include the Maghreb countries of Morocco, Algeria and Tunisia.

“Without exception, the target countries are all emerging economies with a growing middle class, rising incomes and continuous asset growth,” said Deutsche Rück board member Michael Rohde. The group will position itself purely as a retrocessionaire with a focus on sustainable, profitable growth. M

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