AM Best will host its annual MENA Insurance Market Briefing on 17 November 2023, at 9:00 a.m. (GST), at the Fairmont Dubai to discuss the potential impact of recent developments on Middle Eastern and North African insurance and reinsurance markets.
Countries within the MENA region have faced varying challenges in recent years, from supply chain disruptions and inflationary pressures, to elevated economic, financial system and political instability in certain markets. Economies across the region are highly sensitive to energy prices as well, with many having a high correlation between oil prices and GDP growth. AM Best’s stable outlook on the Gulf Cooperation Council Insurance (GCC) region reflects the GCC region’s solid footing to date in 2023, although headwinds are increasing. These issues and other market forces will be discussed at the briefing.
AM Best’s global reinsurance outlook and the drivers of future rating movements; observations on enterprise risk management (ERM) trends in MENA markets; and drivers of insurance market growth within the GCC will form part of the day’s deliberations. The event will conclude with a networking lunch for attendees to connect with AM Best and other industry professionals.