Magazine date:
Feb 2013  © patano [4], CC BY 3.0 (modified picture) [5] |
Despite current competition, experts believe that new capacities will still be attracted to this region. They are mostly from emerging Asian countries, where reinsurers are endowed with a surplus of capital and a well improving financial strength.
Reinsurers in emerging countries currently account for 60% of the Gulf’s capacity, compared to 20% six years ago. Asian players are particularly keen on diversifying their portfolios, and the Middle East stands as an excellent opportunity for them before resorting to any other markets.