Market sentiment remains upbeat among reinsurers and brokers operating in the countries of the Gulf Co-operation Council (GCC).
According to the 3rd GCC Reinsurance Barometer, a survey released on behalf of the Qatar Financial Centre (QFC) Authority yesterday in Doha, the impact of last year’s near-record burden of global catastrophe losses, the aftermath of the Arab Spring and growing primary insurance markets will translate into an improved pricing and profitability outlook.
The annual study, which is now in its third year, is based on in-depth interviews conducted with 33 reinsurance and brokerage executives, representing the majority of the region’s players in the sector.
Akshay Randeva, Director Strategic Development of the Qatar Financial Centre Authority said: “The GCC reinsurance market is worth more than $5 billion and poised to expand briskly. As a world-class regional financial centre, it is our ambition to continue to support future market growth by attracting talent and expertise and by enhancing the transparency of the marketplace through additional benchmarks for decision-making. The 3rd GCC Reinsurance Barometer contributes to this objective.”
Read more: GCC reinsurance market worth over $5 billion | Oman Observer
Showing posts with label Insurance market. Show all posts
Showing posts with label Insurance market. Show all posts
8/8/11
Europe Default-Insurance Costs Soar - by Mark Brown
The cost of insuring European sovereign and corporate debt against default using credit default swaps jumped higher in early trading Friday, as the intensifying euro-zone debt crisis and fears of a global slowdown hit financial markets around the world.
The SovX Western Europe index, which investors can use to buy or sell default protection on a basket of 15 sovereign borrowers, was 12.5 basis points wider at 305/311 basis points, according to index owner Markit.
CDS function like a default insurance contract for debt. A widening of one basis point in a five-year CDS spread equates to a $1,000 increase in the annual cost of protecting $10 million of debt for five years.
For more: Europe Default-Insurance Costs Soar - MarketBeat - WSJ
The SovX Western Europe index, which investors can use to buy or sell default protection on a basket of 15 sovereign borrowers, was 12.5 basis points wider at 305/311 basis points, according to index owner Markit.
CDS function like a default insurance contract for debt. A widening of one basis point in a five-year CDS spread equates to a $1,000 increase in the annual cost of protecting $10 million of debt for five years.
For more: Europe Default-Insurance Costs Soar - MarketBeat - WSJ
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