Losses force reinsurers to be selective in writing oil, gas business

U.K.-based Willis Towers Watson P.L.C. said that reinsurers in the Middle East are becoming more selective when underwriting oil and gas business for clients due to increasing losses in the region, Middle East Insurance Review reported. The insurance broker said that several local reinsurers and foreign reinsurers' branches have gone into run-off including Germany-based HDI Global's Bahrain branch and Bermuda-based Aspen Reinsurance's and Qatar Reinsurance Co. Ltd.'s Dubai branch.

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