Leaders of the insurance companies in the MENA region remain upbeat as to the growth potential of their business. This is the finding revealed by an opinion poll conducted by MENA Insurance Pulse.
Nearly 76% of the respondents believe that insurance premiums are poised to witness an increase above that of GDP for the next twelve months. They are particularly confident about personal lines insurance which is likely to take advantage of the new insurance obligations and of the actions conducted by the authorities in support of tariffs.
With regard to industrial risks, they have sustained a slight slowdown, especially for the fire class of business where a series of claims has resulted in tariff increases. Approximately 54% of the leaders quizzed get the impression that the insurance conditions of the industrial risks are above the average of the recent three years.
One third of those polled are expecting a more intense wave of concentration for the sector in the coming years.
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