Although geopolitical tensions have intensified in the region, the Middle East and North Africa markets present good topline growth potential for reinsurers, and continue to attract international interest, according to a new AM Best report.
In its Best’s Market Segment Report, “MENA Reinsurers are Focused on Profitable Growth Opportunities Despite Heightened Geopolitical and Economic Uncertainties”, AM Best states that the growth potential for reinsurers is supported by adequate reinsurance pricing and emerging business opportunities, particularly in specialised risks.
Fleur Ngassa, financial analyst at AM Best and one of the report’s authors, said, “Despite uncertain times, some growth opportunities have emerged for reinsurers in the region. Addressing the protection gap remains a key priority in MENA markets, which has led to the development of specialised product offerings, such as cyber insurance, parametric insurance and retakaful products.”
This report forms part of AM Best’s look at the global reinsurance industry and includes AM Best’s ranking of top global reinsurance groups and in-depth looks at the insurance-linked securities, Lloyd’s, life/annuity, health and regional reinsurance markets. These can be found at AM Best’s Reinsurance Information centre. In addition, please visit the AM Best TV event playlist for coverage of AM Best’s reinsurance market briefing from Rendez-Vous de September in Monte Carlo and executive interviews during the conference, along with video interviews on AM Best’s global reinsurance reports.