Middle East Insurance Review (MEIR), in solidarity with the insurance market, has started a special series named "Middle East Conflict: The MEIR Dialogue" to discuss the insurance impact of the armed confrontation across MENA as well as globally. The series continues with an interview with Chiedi Re Deputy CEO of Global Operations Joe Asmar.
S&P Global Ratings (S&P) has projected that GCC insurers will sustain underwriting profitability in 2026 at a similar level to that in 2025, despite the ongoing Middle East military confrontation.
Most rated insurers in the Gulf Cooperation Council (GCC) have sufficiently robust capital buffers to absorb a potential increase in capital market volatility and any war-related claims, as these are either heavily reinsured or subject to exclusion clauses, according to S&P Global Ratings (S&P) in a report on the credit outlook of GCC insurers in the wake of the military confrontation in the Middle East.
Escalating hostilities in the Middle East have halted shipping transits, grounded flights across major regional hubs, and raised the risk of missile strikes on commercial infrastructure, increasing underwriting uncertainty across multiple insurance lines, said Mr Fareed Lutfi, Secretary-General of the Emirates Insurance Association.
Global trade credit insurance company, Atradius, says that Qatar is the country among the six GCC states that is most exposed to the on-going military escalation in the Middle East.
The combined net profit of 75 listed GCC insurers remained steady at $1.7bn in the first nine months of this year (9M2025), with mirroring trends from the first half of the year, according to a report by research and consulting firm Insurance Monitor and Lux Actuaries and Consultants.
The 20th Gulf Insurance Forum (GIF) concluded with a series of strategic recommendations for insurers and reinsurers across the GCC, underscoring the need to keep pace with fast-evolving regional and global developments.
Gulf Insurance Group (Gulf) [GIG Gulf)] has demonstrated improvement in its underwriting results over the first six months of 2025, due to the company focusing on higher margin products and exiting from poorly performing business, AM Best says. The insurer's combined ratio is expected to return to a good level in the coming years.
The insurance markets in the GCC are witnessing profound transformation in various aspects of their operations, with growth expected to continue in the current year, propelled by several favourable factors, participants of the 20th Gulf Insurance Forum in Dubai were told.
The Islamic insurance sector in the GCC will continue to benefit from positive growth prospects through 2025 and 2026, forecasts S&P Global Ratings (S&P) in a white paper.