Best’s Market Segment Report: Improving Market Conditions Signal Change for MENA Region’s Reinsurers

Best’s Market Segment Report: Improving Market Conditions Signal Change for MENA Region’s Reinsurers

LONDON–(BUSINESS WIRE/AETOSWire)— Following several years of persisting soft market conditions, pricing and terms in the Middle East and North Africa (MENA) are turning in favour of the region’s reinsurers, according to an AM Best report. In a new Best’s Market Segment Report, “MENA Reinsurance: Improving Market Conditions Signal Change for Region’s Reinsurers”, AM Best notes that the current market hardening is a clear tailwind for reinsurance providers in the region, partly as a bi-product of global reinsurance trends and also in response to regional underwriting performance strains. However, challenges persist for the region’s…

Best’s Market Segment Report: Jordanian Insurers Show Resilience to COVID-19 Pandemic, but More Challenges Lie Ahead

Best’s Market Segment Report: Jordanian Insurers Show Resilience to COVID-19 Pandemic, but More Challenges Lie Ahead

LONDON–(BUSINESS WIRE/AETOSWire)— The COVID-19 pandemic had a significant impact on Jordanian insurers’ 2020 premium volumes and investment returns, but overall, according to a new AM Best report, technical performance improved, helped by fewer claims in the motor and medical lines. A new Best’s Market Segment Report, titled, “Jordanian insurers show resilience to the COVID-19 pandemic, but more challenges lie ahead”, notes that gross written premium for the Jordanian market fell by approximately 4% in 2020 compared with 2019 — the first decline in several years. The decrease was driven by an estimated 20% to 25%…