London Market Group identifies trade priorities post-Brexit

London Market Group identifies trade priorities post-Brexit

London Market Group identifies trade priorities post-Brexit

The London Market Group (LMG) has called on the UK Government to be “proactive in opening up international insurance markets based on mutual market access, home-state supervision and no host-state financial requirements”. The LMG said it has identified a number of priority markets that it will seek to work on with the Treasury and the Department of International Trade. Malcolm…

North African countries need to work together

North African countries need to work together

North African countries need to work together

Technological and geopolitical forces are reshaping regional landscapes, according to the World Economic Forum (WEF), which has urged north African countries to work together. The Middle East and North Africa Risks Landscape briefing paper warns that the technological breakthroughs of the Fourth Industrial Revolution are bringing opportunity but also risk for those unprepared to adapt. At the same time, fractures between…

Neon to lead London political risks insurance consortium

Neon to lead London political risks insurance consortium

Neon to lead London political risks insurance consortium

A new political risks insurance consortium has been established in London, with Lloyd’s insurer Neon as the lead and MS Amlin becoming a joint agreement party. The London Political Risks Insurance Consortium has been created in response to increased levels of political uncertainty across the globe, which have triggered demand for political risks insurance coverage at scale, according to Neon.…

Morocco among most promising emerging markets for 2019

Morocco among most promising emerging markets for 2019

Morocco among most promising emerging markets for 2019

Trade credit insurer Atradius has put Morocco in its top five most-promising emerging markets for 2019. In its Promising Emerging Markets Economic Research Report, Atradius states: “While the Middle East and North Africa is experiencing subdued growth, Morocco is bucking the trend with GDP growth forecast at 3.3% thanks to a cyclical upturn in agricultural production, as well as stronger non-agricultural…

Oil slick threat to French coast as Porsche counts cost of lost cars

Oil slick threat to French coast as Porsche counts cost of lost cars

Oil slick threat to French coast as Porsche counts cost of lost cars

French authorities are battling to contain an oil slick that threatens beaches around the Bay of Biscay, as Porsche counts the cost of losing limited edition cars. The Grande America vessel was on its way to Casablanca with more than 2,200 vehicles on board. Ultimately, it was headed for Brazil. However, it capsized near the French town of La Rochelle…

New York, London and Hong Kong are top three financial centres

New York, London and Hong Kong are top three financial centres

New York, London and Hong Kong are top three financial centres

New York is still the leading financial centre in the world, followed by London and Hong Kong, according to the 25th Global Financial Centres Index, published by Z/Yen Partners and the China Development Institute. According to the index, New York remains in first place, just seven points ahead of London, with Hong Kong four points behind London in third. Singapore…

Moroccan banks still challenged by weak asset quality and capital adequacy

Moroccan banks still challenged by weak asset quality and capital adequacy

Moroccan banks still challenged by weak asset quality and capital adequacy

Weak asset quality and capital adequacy continue to weigh heavily on Moroccan banks’ standalone viability, according to a new report by Fitch Ratings. “All Moroccan banks’ IDRs are driven by our assumption that the banks would receive support, if needed, from the Moroccan sovereign (BBB-/stable) or their institutional shareholders,” it said. Fitch warned the average impaired loans/gross loans ratio reported…

MENA insurance markets see growth but face economic and political challenges

MENA insurance markets see growth but face economic and political challenges

MENA insurance markets see growth but face economic and political challenges

The Middle East and North Africa (MENA) insurance markets have seen strong growth during the past decade and remain attractive to investors despite slowing economic growth in the region, according to AM Best. It said growth in the insurance segment in MENA remains higher in comparison to the most mature markets. The region has faced significant challenges, said Best, “with…

Challenging market conditions in MENA but rated insurers well capitalised, says Best

Challenging market conditions in MENA but rated insurers well capitalised, says Best

Challenging market conditions in MENA but rated insurers well capitalised, says Best

Re/insurers rated by AM Best in the Middle East and Africa generally remain well capitalised, despite political instability and the economies of countries in the region being impacted by suppressed oil prices. The ratings agency said that despite the economic and political challenges, the majority of rating actions (75%) in the Middle East and Africa during 2018 were affirmations, with…

Challenging market for MENA reinsurance industry continues

Challenging market for MENA reinsurance industry continues

Challenging market for MENA reinsurance industry continues

Continuing pressure on pricing, overcapacity, and a higher-than-expected number of large losses in recent years has meant challenging market conditions for the Middle East and North African (MENA) reinsurance industry, according to a new report by AM Best. This competitive landscape has been particularly hard on regional reinsurers that lack the scale and diversification of their foreign counterparts, together with…

1 2 3 6