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Member, Beacon International Group, Ltd.
A report by U.S.-based ratings agency A.M. Best Co. Inc. said that insurers in the Gulf Cooperation Council region face continuing headwinds due to low oil prices, trade embargos, political tensions and increased competition, Middle East Insurance Review reported. On a positive note, GCC carriers are increasing their focus on risk management and their balance sheets generally remain well-capitalised and capable of enduring catastrophe stress scenarios, the report added.