Mergers likely to continue in GCC's Islamic insurance market
More consolidation is likely to occur among smaller and midsize Islamic insurers in the GCC as they continue to report relatively weak earnings, a new report has revealed.
S&P Global Ratings predicts that mergers, mainly in Saudi Arabia, the UAE and Kuwait, will continue as several Islamic insurers still fail to meet the requirement solvency capital requirements.
Consolidation is particularly prevalent among smaller and midsize players in Saudi Arabia and the UAE.
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