Gulf Cooperation Council (GCC) News

COVID-19 Pandemic Threatens Gulf Insurers’ Earnings: S&P Report

The fallout from the coronavirus pandemic and tumbling oil prices threaten the earnings of insurers in the Gulf, S&P Global Ratings said on Wednesday, possibly leading to negative rating actions. “Most insurers we rate in the GCC [Gulf Cooperation Council] …

Verma to Head New Catlin Office in Dubai International Financial Center

Catlin Group Limited has announced the establishment of Catlin Middle East Limited in the Dubai International Financial Centre (DIFC). Catlin Middle East “offers facultative reinsurance to insurers in the Gulf Cooperation Council (GCC) countries, Africa and parts of South Asia,” …

Best Finds Gulf Growth Outpacing Developed and Other Emerging Markets

A new report from A.M. Best concludes that “growth rates in the insurance markets of Gulf Cooperation Council (GCC) countries remain higher than those of developed markets and have kept pace with those of some key emerging markets. The GCC …

AIG Lured to Malaysia by Growing Takaful Market: Islamic Finance

American International Group Inc. is plotting its entry into Malaysia’s Islamic insurance market, lured by the country’s economic expansion and an industry that has grown more than fivefold in less than a decade. The insurer, the world’s largest before being …