The Middle East currently places much of its capacity through
the global reinsurance markets, where much of the risk is ceded out
to these markets, according to Mr Simon
Isgar, Partner & Head of Insurance, BSA Ahmad bin Hezeem
& Associates LLP. This has provided immense opportunities to
the global reinsurance markets, including the London market in
respect of influencing the Middle East insurance industry.
"We have seen relatively few significant regulatory
developments for the reinsurance markets in the Middle East over
the last 12 months. As Middle East markets continue to mature due
to regulatory requirements, mandatory lines of business –
primarily motor and health insurance – are driving overall
growth," Mr Isgar said.
