Stronger underwriting profitability for GCC's Islamic insurers woos investors | ZAWYA MENA Edition:
"Regulatory changes in some GulfCooperation Council (GCC) countries have pushed up insurance prices, particularly for motor and medical cover, improving the underwriting profitability of the region's insurers, Moody's Investors Service said ina report Thursday. This includes the region's Shariah-compliant insurers ('Takaful' whether Cooperative or Takaful), many of which have in recent years made underwriting losses despite double-digit premium growth. "The GCC Takaful insurance sector's improved performance will help it halt capital erosion, attract investor interest, and refocus on its most lucrative markets," said Mohammed Ali Londe, Assistant Vice President - Analyst at Moody's."
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