Best’s Market Segment Outlook: AM Best Maintains Stable Outlook on Gulf Cooperation Council Insurance Markets

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LONDON — AM Best is maintaining its stable market segment outlook for the insurance markets of the Gulf Cooperation Council (GCC) – comprising Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. The maintenance of the stable outlook reflects the GCC insurance market’s solid footing entering 2023; however,Continue Reading

Best’s Market Segment Report: Intense Price Competition Erodes Profitability of United Arab Emirates-listed Insurers in 2022

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LONDON — The insurance market in the United Arab Emirates reported a marked deterioration in underwriting profitability in 2022. In AM Best’s opinion, this largely reflects the highly competitive market conditions and continuous pricing pressures, particularly in the core motor and medical lines, which account for a large proportion of retainedContinue Reading