Insurance in the Middle East requires caution

At the insurance forum of the Gulf States, which took place in Qatar, Bruce Hodkinson, Head of the Africa and the Middle East department at Swiss Re, said the business environment remains uncertain and that insurers are concerned about the health of the economy. He added that to meet this challenge, insurers must control their combined ratio and generate underwriting profits for the three to five years to come. For Cherif Chentir, underwriting officer in charge of the Middle East zone at Scor, regional insurers are required to increase their retention which is often low.