No Image

Studies of natural disasters and anthropogenic losses in the countries of the Persian Gulf indicate the need to manage corporate risks

July 29, 2018 UAE Business 0

The member countries of the Gulf Cooperation Council have traditionally been subject to a low level of weather-related requirements, although Cyclone Mekunu, who struck Oman in May 2018, Super Cyclone Gonu in 2007 and floods in the United Arab Emirates (UAE) and Saudi Arabia serve as a reminder that the region is not completely free of natural disasters. Read more

No Image

A.M. Best Briefing: VAT Implementation Poses Significant Challenges for GCC Insurers

May 28, 2017 UAE Business 0

Uncertainty persists as to when precisely Value Added Tax (VAT) will be introduced in the member states of the Gulf Cooperation Council (GCC), and the process surrounding a roll-out. However, given the fiscal pressures in the region, the introduction of taxation seems inevitable and could cause short-term cash-flow issues for insurers. Read more