Blockade impact on credit quality of Qatar insurers seen limited

Blockade impact on credit quality of Qatar insurers seen limited:

"The economic blockade, now into the ninth month, is expected to have only a limited impact on the credit quality of insurers in Qatar, which is slated to see uniform policy guidelines for the sector, according to A M Best, a global insurance rating agency. Finding that the Middle East and North Africa region is accustomed to political and economic turbulence, with periodic conflicts, the report, however, said the GCC (Gulf Co-operation Council) itself has historically remained relatively calm. Nevertheless, geopolitical tensions were elevated to new levels in 2017 when Saudi Arabia, the UAE and Bahrain severed diplomatic relations with Qatar and imposed trade and travel sanctions, A M Best said, adding to date, these actions have not had a material impact on the insurance operations of carriers in the region, although investment markets have seen volatility."



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