A call to the government for more support of insurance

The Palestinian insurance sector has witnessed an average 20% growth over the last five years. According to the chairman of financial markets, Maher Al Masri, companies’ portfolio are nonetheless frail, with serious challenges to be addressed in order to protect both the insured and the insurers. Minimum solvency ratios have not been reached. Portfolio concentration in some classes of business is too important and claims increase is remarkable. In the absence of a legislative power in the country, the institutions there, Maher Al Masri added, have an additional responsibility. He therefore calls upon the authorities to support the insurance sector regarding it as one pillar of the economy.