GCC MARKETS
Selected by Axxion’s GCC market monitor from regulators and the regional insurance press. Each item links to the original report. Updated 9 October 2026.
GCC-wide · Catastrophe and exposure
Strait of Hormuz shipping traffic dropped to its lowest level in two months as attacks on tankers in the area increased, The National reported.
GCC-wide · People
Sedgwick appointed a new CEO for its Middle East operations, Middle East Insurance Review reported.
GCC-wide · Financial results
Active Re's risk-adjusted capitalisation remained at its strongest level, the Asia/Middle East Insurance Review reported.
GCC-wide · People
Marsh Re appointed Nathalie Zaatar and Talal Sharif as co-heads for the Middle East, Reinsurance News reported.
GCC-wide · Catastrophe and exposure
GPS spoofing was reported as an added challenge for maritime operations in the Middle East.
GCC-wide · Financial results
Middle East takaful insurance generated US23.2 billion in gross premiums in 2015.
GCC-wide · Distribution
Insurance companies in the GCC have signed new bancassurance partnerships, according to Middle East Insurance Review.
GCC-wide · Catastrophe and exposure
Saudi oil loadings have surged sevenfold while a growing number of tankers have switched off their AIS transponders amid heightened tensions around the Strait of Hormuz, raising visibility and risk-tracking concerns for shippers and insurers.
GCC-wide · Catastrophe and exposure
The Takaful industry has seen limited claims exposure from regional geopolitical tensions, according to Asia/Middle East Insurance Review.
GCC-wide · Corporate activity
Qatar Insurance Company (QIC) and WIS Group marked a new GCC partnership with a signing ceremony at the Arabian Travel Market, per Gulf News.
GCC-wide · Catastrophe and exposure
Iran said the Strait of Hormuz will remain closed until its conditions are met, per Fars News as reported by Khaleej Times.
GCC-wide · Fraud
Ransomware activity in the Middle East surged more than 20 times as cyber threats converged, according to Middle East Insurance Review.
GCC-wide · Catastrophe and exposure
A DP World official explained the company strategy to mitigate the risk of a Strait of Hormuz closure.
GCC-wide · Catastrophe and exposure
UKMTO reported a tanker was hit by an unknown projectile, with an onboard fire subsequently extinguished.
GCC-wide · Financial results
Atlas Magazine published a roundup of GCC-zone listed insurers financial results as of 30 June 2026.
GCC-wide · Catastrophe and exposure
Tanker traffic through the Strait of Hormuz is showing signs of recovery, though Gulf oil flows remain far below normal levels, Gulf News reported.
GCC-wide · Corporate activity
A Brazilian reinsurer increased its underwriting capacity in the Middle East exclusively through MGA Kay International AMEA, Middle East Insurance Review reported.
GCC-wide · Catastrophe and exposure
Ship transits through the Bab al-Mandeb Strait and the Strait of Hormuz plunged after Houthi forces seized the Yemeni port of Mokha, The National reported.