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Middle East insurers worried about budget cuts affecting infrastructure spending

Posted On: Jan. 18, 2016 12:00 AM CST

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.

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