Strong outlook for reinsurance markets in qatar and the region
by The Edge Staff — 3 October 2012
According to the Qatar Financial Centre (QFC) Authority’s 3rd GCC Reinsurance Barometer, market sentiment remains upbeat among reinsurers and brokers operating in the countries of the Gulf Cooperation Council (GCC). The impact of last year’s near-record burden of global catastrophe losses, the aftermath of the Arab Spring and growing primary insurance markets will translate into [...]
According to the Qatar Financial Centre (QFC) Authority’s 3rd GCC Reinsurance Barometer, market sentiment remains upbeat among reinsurers and brokers operating in the countries of the Gulf Cooperation Council (GCC). The impact of last year’s near-record burden of global catastrophe losses, the aftermath of the Arab Spring and growing primary insurance markets will translate into an improved pricing and profitability outlook.
Based on strong economic fundamentals, confidence in the prospects of the reinsurance sector in the GCC and in Qatar remains high as the region continues to be perceived as one of the world’s most attractive (re)insurance growth markets, benefiting from a relatively low exposure to natural perils.
“A healthy reinsurance industry is an important facilitator of economic progress in Qatar and the GCC region. We, therefore, feel encouraged by the most recent Barometer’s finding that the attractiveness of Qatar and the GCC as a marketplace for reinsurers continues to increase,” said Shashank Srivastava, the CEO of QFC.
Based on strong economic fundamentals, confidence in the prospects of the reinsurance sector in the GCC and in Qatar remains high as the region continues to be perceived as one of the world’s most attractive (re)insurance growth markets, benefiting from a relatively low exposure to natural perils.
“A healthy reinsurance industry is an important facilitator of economic progress in Qatar and the GCC region. We, therefore, feel encouraged by the most recent Barometer’s finding that the attractiveness of Qatar and the GCC as a marketplace for reinsurers continues to increase,” said Shashank Srivastava, the CEO of QFC.
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