Colors: Orange Color

AM Best has revised its market segment outlook on the insurance markets of the Gulf Cooperation Council (GCC) to negative from stable. Key factors that led to the change outlook includes the economic downturn across the region stemming from lower oil prices and COVID-19 containment measures; the expectation of lower insurance demand following a delay in the rollout of mandatory health insurance in Oman and Bahrain; the postponement of EXPO 2020 in Dubai; and the potential delay of government infrastructure projects.

Zurich International Life Limited in the Middle East launches a new tele-interview process for new life insurance customers in the UAE. Together with additional measures around payment flexibility, and an invitation for customers to join an online community to share their concerns and needs, the organisation is actively seeking for ways to assist new and existing customers through this challenging time.