September 24, 2018

Market Surveys

Market Surveys
The analysis of the Middle East and Africa insurance sector

Cautious with Positive Expectations

Premium takes a look at the analysis of the Middle East and Africa insurance sector in Swiss Re’s latest Sigma study of the global primary insurance industry. Globally, the economy saw considerable improvement in 2017, with real gross domestic product (GDP)1 rising by 3.3 percent. Advanced markets, with the exception...

The role of enterprise risk management in a business environment is affected by weather-related losses and manmade risks in the Middle East.

The Weighty Role of ERM

A.M. Best, in its latest report, emphasises on the role of enterprise risk management in a business environment affected by weather-related losses and manmade risks. A Premium report. The recent cyclone Mekunu recently striking Oman and super cyclone Gonu in 2007 as well as flooding in the United Arab Emirates...

How costly is a data breach?

The 2018 Cost of a Breach Study by the Ponemone Institute has raised some questions on the level of data security for the Middle East. The study is based on the opinions of 2200 IT, data protection and compliance professionals from 477 companies. Of these, companies in the UAE and...

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Finding a Foothold

Takaful operators with strong business profiles and track records of good operating performance would find more opportunities in the market to provide financial protection, according to A.M. Best’s latest report. With the exception of Saudi Arabia (where all insurers operate under the unified co-operative insurance model, which is distinctly different...

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Trade Risk on the Rise

Lira depreciation is bad news for Turkish trade partners, according to Atradius’ latest economic research report. Turkey has been in the spotlight frequently over the past couple of years. The rapid succession of developments started with the failed coup attempt in July 2016, which led to a drop in economic...

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The Vital Role of Engineering Insurance

In a digitally-connected world, insurance may come to play more of a risk ‘avoidance’ role, rather than solely indemnifying losses. This may ultimately require a more radical reconfiguration of engineering insurers’ business models. Swiss Re’s latest Sigma study explores the outlook for engineering insurance. A Premium report. Engineering insurance plays...

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KSA: The Price of Restructuring

After the bumper increase in net earnings in 2016 in the insurance industry of Saudi Arabia, S&P finds that companies have seen a decline in profits this year. A Premium report. With all listed insurers in Saudi Arabia having published their preliminary year-end 2017 financial reports, S&P Global Ratings calculates...

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An Opportunity for Life Insurance

Social protection for low-income groups is an attractive segment for the life insurance industry. It is yet untapped due to lack of knowledge and access to coverage, according to a Democrance report. Low-income migrant workers in the UAE view life insurance as a most vital type of social protection, and...

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Wins or Losses?

CFO’s outlook to the challenges, opportunities and threat for the following year, surveyed by Moody’s. A Premium report. Moody’s 2018 survey of 12 CFOs from the region’s leading insurers have discussed challenges, threats and opportunities in the insurance industry. The survey results have stated that profitability ceases to be a...

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Economies of Scale

Insurers will need to use their resources more efficiently and consequently adjust their investment exposures, underwriting policies, and internal controls to stay stable in 2018, states S&P. Despite ongoing regulatory and competitive challenges in the insurance sector in the Gulf Cooperation Council (GCC) countries, S&P Global Ratings (S&P) anticipates that...

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