Gulf countries, insurers retain more risks

According to Moody's, insurers in the Gulf region are having their reinsurance terms relaxed. This move is accounted for in 2013 by the large capacity supply and the low natural catastrophes loss experience in this part of the world.
© Imre Solt, CC BY-SA 3.0

The rating agency also notes that local insurers retain more risks. In the medium term, the countries of the Gulf Cooperation Council will continue to represent a growth opportunity for reinsurers as the market is boosted by many construction projects related to infrastructure and energy. However, the growth of the direct market does not fully apply to reinsurance due to higher retentions.

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