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Rating agency Moody’s has lowered its outlook on the global reinsurance sector to negative, citing an oversupply of capacity, new entrants in the form of non-traditional capital, more substitute products, low interest rates, and greater bargaining power of buyers. 19 June 2014
Insurance
The Qatar Financial Centre Authority (QFC Authority) has appointed Yousef Fakhroo as director of marketing and corporate communications. 10 June 2014
Insurance
Re/insurer Catlin Group has established Catlin Middle East in the Dubai International Financial Centre (DIFC). 6 June 2014
Insurance
Standard & Poor’s (S&P) has questioned the validity of including insurers on a global list of companies regarded as posing a systemic risk to the global financial system should they fail. 4 June 2014
Insurance
Broker Cooper Gay Swett & Crawford (CGSC) has launched a division covering the Middle East and North Africa (MENA). 23 May 2014
Insurance
Brokerslink, the global independent insurance broker network, has reorganised its previous Europe, Middle East and Africa (EMEA) trading area by splitting it into two separate regions: Europe and Middle East & Africa (MEA). 22 May 2014
Insurance
Moody's Investors Service has formed a dedicated global Islamic finance group (IFG) to meet the growing demand for Islamic finance credit ratings and research, as Islamic capital markets, insurance products and banking continue to register double-digit growth rates. 22 May 2014
Insurance
Rating agency AM Best has upgraded the issuer credit rating and outlook for the Dubai Insurance Company (DIC) following the insurer’s strong operating results and risk-adjusted capitalisation. 16 May 2014
Insurance
Rating agency AM Best has downgraded the financial strength and issuer credit rating of The Mediterranean & Gulf Insurance & Reinsurance Company (Medgulf Bahrain) and The Mediterranean and Gulf Cooperative Insurance and Reinsurance Company, a Saudi joint stock company, (Medgulf KSA), as a result of material underwriting losses at the Saudi subsidiary. 16 May 2014
Awards
The second stage of the Intelligent Insurer’s Global Research Survey 2014 is now live. Voting will close at the end of May and the full results will be published in the magazine’s annual industry research report later this year. 2 May 2014
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