The insurance, reinsurance, Takaful and cooperative markets within the Middle East and North Africa (MENA) continue to offer opportunity for growth, although the global slowdown of financial markets and political instability in the region threaten to dampen prospects for some companies, A. M. Best Co. said in its special report on Middle East & North Africa Non-Life and Life Insurance market this October.
The report noted that the two main regional markets remain the UAE and Saudi Arabia, which is indicative of their economies and the potential of their markets. Both countries benefit materially from oil revenues, which have stimulated growth, in addition to the introduction of compulsory medical schemes………………………………………..Full Article: Source