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AM Best continues to hold a negative market segment outlook on the insurance markets of the Gulf Cooperation Council (GCC). Factors supporting the outlook include COVID-19-driven uncertainty and the risk that further oil price volatility will maintain economic pressure across the region. In addition, there is concern over price adequacy amid intensely competitive conditions. Financial market fluctuations and depressed real estate valuations, as well as the expectation of liquidity pressures and increased delays in cash collection, also weigh on the outlook.

Dubai Islamic Insurance & Reinsurance Company PJSC (Aman), the pioneering UAE Takaful Insurance provider, has received Board approval for its FY 2020 audited financial results. At the same time, the Board agreed to propose AMAN's first cash dividend distribution of 6% of net profit attributable to shareholders since 2011 (when it made returns to shareholders via a bonus issue of shares).

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