GCC:Impact of regional weather-related events in 2Q2024 contained by reinsurance for most insurers

By MEIR team | 20 Aug 2024

GCC Property & Casualty Financial Performance Life & Health

Listed insurers in the GCC region have registered an impressive growth of 8.0% in after-tax profits with a mere y-o-y increase of 1.1% points in the net combined ratio (NCR) as the damage from a series of rain events, including the UAE's record-breaking rainfall in April 2024 has been contained to a large extent by reinsurance arrangements for most insurers.

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