GCC – Oil price at USD 40-50 revives insurance market
Thursday, 10 20 2016, Category: Insurance and Reinsurance, Country: Gulf Cooperation Council
Insurance industry experts in the UAE and Gulf Cooperation Council agreed that oil prices between USD 40 and USD 50 per barrel will strengthen the insurance industry and boost growth in the region and especially in the Gulf Cooperation Council countries in light of the revenues that can be generated in these countries in addition to supporting liquidity that can stimulate all economic sectors in the region.
This was mentioned in the 13th Annual Gulf Insurance Forum 2016, which will continue until the twentieth of the current month at the Hotel Bustan Rotana Dubai in the presence of Mr. Ibrahim Al Zaabi the director general of the Insurance Authority, Mr. Khalid Mohamad Al Badi chairman of the board of the Gulf Insurance Federation, Mr. Abdel Khaliq Rauf Khalil secretary general of the General Arab Insurance Federation, Mr. Adel Mounir secretary general of the Federation of Afro-Asian Insurance and Reinsurance, Mr. Fareed Lutfi secretary general of the Gulf Insurance Federation, and executive directors managers of insurance and reinsurance companies operating in the country.
Source: Al Khaleej