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A survey has revealed that insurers in the Middle East are worried about budget cuts affecting spending on infrastructure, reported Middle East Insurance Review.
"Low oil prices, rising interest rates, a strong dollar and concerns about emerging market growth will most certainly weigh on financial institutions, banks as well as insurers in the Middle East," said Sayd Farook, CEO of U.A.E.-based business information firm Middle East Global Advisors.
Uneven and lack of regulations across the region is a major growth hurdle for insurers, said Mr. Farook.