MENA reinsurance market: Return on equity and technical ratios (2014-2018)
Return on equity of MENA reinsurance companies
Technical ratios of MENA reinsurance companies
| Reinsurance companies | Country | Loss ratio | Combined ratio | ||||||
|---|---|---|---|---|---|---|---|---|---|
| 2016 | 2017 | 2018 | 3-year average | 2016 | 2017 | 2018 | 3-year average | ||
Arab Insurance Group | Bahrain | 61 | 69 | 82 | 71 | 98 | 104 | 115 | 103 |
Arab Re | Lebanon | 73 | 77 | 70 | 73 | 108 | 107 | 106 | 107 |
Compagnie Centrale de Réassurance | Algeria | 51 | 51 | 53 | 52 | 81 | 81 | 82 | 81 |
Hannover Re Takaful | Bahrain | 70 | 61 | 69 | 66 | 101 | 95 | 102 | 99 |
Kuwait Re | Kuwait | 65 | 65 | 65 | 65 | 97 | 98 | 97 | 97 |
Milli Re | Turkey | 75 | 76 | 94 | 81 | 108 | 111 | 129 | 115 |
Oman Re | Oman | 55 | 62 | 55 | 57 | 104 | 104 | 91 | 100 |
Saudi Re | Saudi Arabia | 78 | 67 | 63 | 72 | 98 | 100 | 98 | 99 |
Société Centrale de Réassurance | Morocco | 59 | 71 | 60 | 63 | 84 | 97 | 92 | 91 |
Tunis Re | Tunisia | 53 | 63 | 71 | 62 | 94 | 102 | 108 | 101 |
Trust Re | Bahrain | 68 | 69 | 73 | 70 | 98 | 103 | 100 | 100 |
Sources : AM Best
According to the figures provided by AM Best, only those regional reinsurers, focused on domestic market, managed to get out of trouble. In this respect, the agency distinguished CCR Algiers with an average combined ratio of 82% over the last three years, followed by SCR with 91%, Kuwait Re (97%) and Saudi Re (99%).
While a slight improvement has recently been noted on the markets, the region is not any more competitive, though.
Read also | MENA reinsurance market in 2019
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