Insurance-linked securities for the Middle East


To date there haven’t been any insurance-linked securities that we know of which have covered risks in the Middle East. However we do know that there are interested parties in the region who have been looking at different methods of hedging risk and assessing how they might fit within the Middle Eastern financial marketplace.

Most of the discussion we’ve heard has involved the possibility of financial centres such as Qatar playing host to special purpose insurers and vehicles for the issuance of insurance-linked securities or industry loss warranties.

Now, it seems interest has been growing and the Captive Review has reported that Kane Group, a provider of specialist risk and insurance management services with offices in the Middle East, has indicated that they would like to pursue a business in insurance-linked securities and industry loss warranties within the Middle East. Kane have recently been awarded the first license to operate and manage captive insurers in the Qatar Financial Centre and we assume that they hope to help firms establish SPV’s there.

The article in the Captive Review quotes Kane CEO Stephen May as saying that he would like to have something up and running within a year.

We’ve contacted Kane Group for further comment on their plans in the Middle East but as yet have no reply. We’ll bring you an update when we have one.

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