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10.03.2016 13:01:00
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ICIEC -- Moody's: Softening rates continue to put pressure on reinsurers
DIFC - Dubai, March 10, 2016 -- In line with the global reinsurance market, GCC (Gulf Cooperation Council) reinsurers are experiencing softening renewal rates, according to Moody's Investors Service. The market is characterised by overcapacity, with many international and local players competing for reinsurance business. This, coupled with limited natural catastrophe risks, has resulted in a continued softening of reinsurance rates at the January 2016 renewals for the region. However, despite the softening rates, the region remains a growth target.
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