Gulf insurers: “Capable of overcoming crisis”
Friday, 02 05 2016, Category: Insurance and Reinsurance, Country: Gulf Cooperation Council
Two insurance sector officials confirmed on Thursday that the philosophy of the insurance sector in the Gulf Cooperation Council countries in the Arabian Gulf allow it to overcome the consequences of the current financial crisis caused by the decrease in oil prices in the international markets.
The two executives of the Kuwait News Agency (KUNA) at the margins of the Middle East Insurance Forum in Manama expressed their trust in the Gulf insurance sector philosophy which is capable of reproducing successes as it already successfully overcame the financial crisis that hit the world economy in 2008 without suffering direct losses.
The CEO of Medgulf Mr. Nader Al Mandeel said that companies in the Gulf insurance sector follow a conservative investment philosophy and follow financial policies which are not adventurous, which in turn allow them to cope with the surrounding economic environment.
Source: Al Qabas newspaper