MENA region faces challenges but also has advantages

The Middle East and North Africa (MENA) region has great untapped potential that the market needs to access, Dr Kai-Uwe Schanz, partner and chairman of Schanz Alms & Co, told delegates at MultaQa Qatar this week.

Dr Schanz laid out a SWOT (strengths, weaknesses, opportunities and threats) analysis of the region.

Amongst the strengths he identified growth momentum, the low level of natural catastrophe exposure and an expanding amount of infrastructure in the region.

However, he also said that weaknesses included excess supply due to a huge amount of available capital, a talent gap in the region and regulatory frameworks.

Turning to the opportunities that MENA offered the market, Dr Schanz pointed to low levels of insurance penetration, the existence of compulsory insurance in some categories and regulatory improvements.

Finally, looking at the threats he pointed out the economic slowdown that was starting to impact the wider world, along with increasing geopolitical instability and an excessive amount of competition.