Advocating the launch of a GCC reinsurer
Friday, 10 13 2017, Category: Insurance and Reinsurance, Country: Gulf Cooperation Council
A number of experts in the insurance sector confirmed that the reinsurance market in the Kingdom of Saudi Arabia faces many challenges. The market is only served by one local reinsurer, which does not meet all the needs of the local and regional markets. They told “Al Riyadh” newspaper that the launch of a national or GCC reinsurance consortium could be the best solution. In fact, international reinsurance companies are competing to obtain the largest market shares locally and regionally, so they control prices downward or upward.
Source: Al Riyadh Newspaper