Saudi Reinsurance Company (Saudi Re), the kingdom's sole home-grown reinsurer is making big strides within its local market and abroad as international business accounts for half of its premium income; its strategic partnership with the PIF would...
Reinsurers, including Swiss Re have become more willing to provide cover for the Middle East in the industry's January policy renewal season, removing a clause which allowed them to pull out if the Gaza conflict escalated, according to Reuters.
For the year end 2024, insurance service results for the listed insurers in Oman experienced a 46% decrease, from OMR24.7m ($64.4m) to OMR13.4m ($34.9m), said Badri Management Consultancy.
The outlook for credit fundamentals for sovereigns in the Middle East and North Africa (MENA) remains stable, said Moody's Ratings in a new report.