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AM Best says MENA reinsurance market still sees growth opportunities
AM Best points to adequate reinsurance pricing and specialized risk products, including cyber and parametric insurance, as part of the market appeal.
AM Best said the Middle East and North Africa (MENA) reinsurance market continues to offer top line growth opportunities and attracts steady inflows of international capital despite rising geopolitical and economic uncertainties.
The insurer rating firm attributed the growth potential to adequate reinsurance pricing and emerging business opportunities, particularly in specialized risks.
AM Best also highlighted efforts to address the protection gap in MENA markets, which it said has driven specialized product development such as cyber insurance, parametric insurance, and retakaful products.
It noted that geopolitical risks have escalated significantly since early 2025, including intensifying regional security tensions and the outbreak of the US Israel conflict with Iran, which has increased risk uncertainty for reinsurers.