The Arab war risk insurance market

arab armyThe idea of creating a pan-Arab war risks insurance syndicate dates back to 1979. Only after the decision of the London market to tighten the underwriting conditions towards the Gulf countries, by increasing the hull and marine premiums, was the war risks mutualization project set up.

Set up in 1980, the Arab War Risks Insurance Syndicate has been designed to protect the interests of the Arab insurance and reinsurance markets. At its inception, the pool had 27 members from seven countries. Based in Bahrain, AWRIS has been contributing to the stability of war risk premiums in the region since its inception. It currently has 187 members from 16 countries.

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