The Middle East is still the largest producer of oil in the world, but it’s also an area that’s starting to look at a more diversified economy. Intelligent Insurer looks beyond the black gold.
Once upon a time when people thought about business in the Middle East they concluded that ‘business’ consisted of just one three-letter word: oil. That time has long since passed.
The Middle East and North Africa (MENA) region is looking beyond the petrochemical industry and towards the more diversified heights of wider economies. It’s a risk, but one that has to be taken for a simple reason: at some point the oil is going to run out, the pumps will run dry and the petrodollars will stop coming in.
One industry that has been seeing a great deal of growth and investment is insurance, partly because of the growth in interest in what it can provide in the area and partly because of the economic diversity it can provide.
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Middle East North Africa, Middle East, Insurance, Reinsurance, Risk, Qatar Financial Centre, Aon Benfield Middle East, Michael Jenson, Ahmed Rajab