-

Best's Market Segment Report: Opportunities Arise for MENA Reinsurers Amid Divergent Economic Conditions

LONDON--(BUSINESS WIRE)--Hardening reinsurance market conditions in the Middle East and North Africa region, as well as changes in reinsurers’ appetites as to where they deploy their capital, have sustained the positive price momentum over recent renewal seasons, according to an AM Best report.

The Best’s Market Segment Report, “Opportunities Arise for MENA Reinsurers Amid Divergent Economic Conditions,” notes that reinsurance capacity in the region continues to be highly changeable and dynamic against a backdrop of divergent economic conditions across the region for oil-exporting and oil-importing countries.

AM Best analysts also state that operational challenges and deteriorating country risk landscapes in several countries in the region have weighed negatively on their view of the financial strength of the reinsurers domiciled and operating in these countries. While several companies have experienced Long-Term Issuer Credit Rating downgrades over the past year, on the whole, MENA reinsurers rated by AM Best tend to demonstrate risk-adjusted capitalisation assessed at the strongest level, which is reflective of significant capital buffers relative to their operational exposures.

To access a complimentary copy of this market segment report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=325008.

For additional global reinsurance-related reports, including AM Best’s annual ranking of the Top 50 global reinsurance groups and in-depth looks at the insurance-linked securities, Lloyd’s, life reinsurance and regional reinsurance markets, 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. For more information, visit www.ambest.com.

Copyright © 2022 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. 

Contacts

Emily Thompson
Financial Analyst
+44 20 7397 0291
emily.thompson@ambest.com

Richard Banks
Director, Industry Research – EMEA
+44 20 7397 0322
richard.banks@ambest.com

Alex Rafferty
Associate Director, Analytics
+44 20 7397 0312
alex.rafferty@ambest.com

Edem Kuenyehia
Director, Market Development & Communications
+44 20 7397 0280
edem.kuenyehia@ambest.com

AM Best


Release Versions
Hashtags

Contacts

Emily Thompson
Financial Analyst
+44 20 7397 0291
emily.thompson@ambest.com

Richard Banks
Director, Industry Research – EMEA
+44 20 7397 0322
richard.banks@ambest.com

Alex Rafferty
Associate Director, Analytics
+44 20 7397 0312
alex.rafferty@ambest.com

Edem Kuenyehia
Director, Market Development & Communications
+44 20 7397 0280
edem.kuenyehia@ambest.com

Social Media Profiles
More News From AM Best

AM Best Assigns Issue Credit Rating to Fairfax Financial Holdings Limited Senior Unsecured Notes; Comments on Re-Opened Senior Unsecured Notes

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has assigned a Long-Term Issue Credit Rating (Long-Term IR) of “a-” (Excellent) to the recently issued CAD 400 million, 4.4% senior unsecured notes, due February 2036, of Fairfax Financial Holdings Limited (Fairfax) (Toronto, Canada) [TSX: FFH]. The outlook assigned to this Credit Rating (rating) is stable. At the same time, AM Best has commented that the Long-Term IR of “a-” (Excellent) on the CAD 300 million 5.1% senior unsecured notes, due August 2055,...

AM Best Assigns Credit Ratings to Redbridge Insurance Company and Affirms Credit Ratings of Redbridge Insurance Company Limited

MEXICO CITY--(BUSINESS WIRE)--AM Best assigned the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb” (Good) to Redbridge Insurance Company (RIC) (Puerto Rico). The outlook assigned to the FSR is stable, while the outlook assigned to the Long-Term ICR is positive. Concurrently, AM Best has affirmed the FSR of B++ (Good) and the Long-Term ICR of “bbb” (Good) of Redbridge Insurance Company Limited (RICL) (St. James, Barbados). The outlook...

AM Best Revises Outlooks to Positive and Affirms Credit Ratings of Seguros Universales, S.A.

MEXICO CITY--(BUSINESS WIRE)--AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of Seguros Universales, S.A. (Universales) (Guatemala). The Credit Ratings (ratings) reflect Universales’ balance sheet strength, which AM Best assesses as very strong, as well as its marginal operating performance, neutral business profile and appropriate enterprise risk management. The positive ou...
Back to Newsroom