Aoun Al Smadi

The current situation has prompted a meaningful shift in how businesses and individuals approach risk, encouraging a more proactive and informed mindset. While certain segments, such as marine, have experienced disruption due to evolving risk conditions, this has also highlighted the importance of adaptability and stronger risk planning across supply chains.

Clients are now engaging more actively with their coverage, asking clearer questions around areas such as war risk and policy scope. This increased awareness drives better understanding and more tailored protection.

On both the human and asset sides, demand for enhanced coverage has grown, with insurers responding quickly by introducing flexible extensions and solutions, leading to more responsive products.

Challenging periods often act as catalysts for progress, and this environment is no exception. There is a growing recognition that insurance plays a vital role not only in protection, but in enabling confidence and continuity for both individuals and businesses.

Looking ahead, the GCC insurance and reinsurance markets are likely to continue evolving in response to a changing risk landscape. While pricing and capacity dynamics may remain firm in certain areas, this is also creating opportunities for more disciplined underwriting and stronger risk selection.

We expect to see continued growth in specialised covers, including political violence, trade disruption, and contingency solutions. This environment is also encouraging innovation in programme design, with more structured and collaborative approaches between insurers and reinsurers. It is likely to accelerate the development of regional capabilities, with a stronger focus on local expertise, tailored products, and long-term sustainability.