"S&P": Stability of credit ratings of Gulf insurance companies
Dubai, March 18 / WAM / S&P Global Ratings expects the credit conditions and ratings of Gulf insurance companies to stabilize in the short and medium term, despite the repercussions in the region.
The agency explained in a report issued today that the stability of the situation is supported by the solidity of capital and the strength of profits accumulated over the past years.
The report indicated that most of the classified insurance companies in the region have sufficient capital margins to absorb financial market fluctuations and the increase in war-related claims, pointing out that these claims are often excluded from traditional insurance policies or covered by global reinsurance, which limits companies’ net exposure to risks.
He indicated that the direct effects of the war are mainly concentrated in the marine insurance, aviation, energy and cybersecurity sectors, but the actual exposure of Gulf insurance companies remains limited and manageable.
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