Magazine date:
Jul 2016 According to the latest barometer published by Qatar Financial Center (QFC), the reinsurance market in the MENA region (Middle East, Turkey and North Africa) is expected to strengthen over the next twelve months.
On a panel of 29 reinsurers and brokers surveyed, 52% of executives believe that the reinsurance rates would increase during the next renewals.
This is mainly due to the large losses that occurred in the region during the year.
Note that in 2015, non-life MENA reinsurance premiums reached 13 billion USD, that is 7% of the global market.
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