MENA: Reinsurers gain from pricing environment

Source: Middle East Insurance Review | Dec 2024

Reinsurers domiciled in the MENA region continued to benefit from positive pricing momentum over the recent renewal periods, albeit to a lesser extent than the global reinsurance market, according to a new report from AM Best.

“The performance of MENA’s reinsurers has been adversely impacted in recent years by an increasing volume of natural catastrophe losses and several single, large loss events,” said AM Best senior financial analyst Emily Thompson.

“Following greater incidences of weather-related losses, such as flood events (particularly in the GCC countries), reinsurers in the region are having to further adapt pricing and modelling capabilities to ensure these exposures are appropriately factored into underwriting decisions and risk appetites,” she said. M

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