Best's Market Segment Report: MENA Reinsurer Performance Benefits from Pricing Environment, Higher Interest Rates

SEPTEMBER 30, 2024 08:58 AM (EDT)

Best's Market Segment Report: MENA Reinsurer Performance Benefits from Pricing Environment, Higher Interest Rates

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LONDON - SEPTEMBER 30, 2024 08:58 AM (EDT)
Reinsurers domiciled in the Middle East and North Africa (MENA) region continued to benefit from positive pricing momentum over the recent renewal periods, albeit to a lesser extent than the global reinsurance market, according to a new report from AM Best.

The Best's Market Segment Report, "MENA Reinsurer Performance Benefits from Pricing Environment, Higher Interest Rates," forms part of AM Best's look at the global reinsurance industry during the Rendez-Vous de Septembre in Monte Carlo. Additional reports, including AM Best's annual analysis of the world's largest reinsurance groups and in-depth looks at the insurance-linked securities, life/annuity, health and regional reinsurance markets, have been published during August and September.

"The performance of MENA's reinsurers has been adversely impacted in recent years by an increasing volume of natural catastrophe losses and several single, large loss events," said Emily Thompson, senior financial analyst, AM Best. "Following greater incidences of weather-related losses, such as flood events (particularly in the Gulf Cooperation Council countries), reinsurers in the region are having to further adapt pricing and modelling capabilities to ensure these exposures are appropriately factored into underwriting decisions and risk appetites."

To access the full copy of this market segment report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=347253.

For additional global reinsurance reports, please visit Best's Research. AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.