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GCC insurers need to limit high-risk assets: Moody’s

: Sunday, June 29 - 2014 @ 00:17

Moody’s Investors Service has said Gulf Cooperation Council (GCC) insurers continue to face investment risk given the dominance of high-risk assets in their investment mix, Arab News has reported. Equities remain the key asset class for GCC insurers, accounting for over 40% of total investments in 2013, and real estate is also a key investment class, accounting for more than 20% of total invested assets last year. “The current regulatory framework for GCC insurers does not fully reflect the risk posed by material investments in high-risk assets,” said Moody’s credit analyst, Harshani Kotuwegedara. “However, regulatory frameworks are gradually evolving in many countries, including limitations on investment in high-risk assets.”

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Sunday, June 29- 2014 @ 0:17 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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