Insights Articles

Can mandatory cover in developing markets help increase insurance penetration?

May 14, 2026 | London, UK

Although stubbornly low insurance penetration rates persist in some Middle East and North African (MENA) markets, gross written premiums (GWP) are expected to grow in the GCC at a CAGR of over 5% by 2028. As a result of this success, several regulatory initiatives to expand compulsory lines, such as employee benefits and unemployment insurance programmes across the region, are promising to deliver greater insurance penetration as governments look to promote further economic stimulus, better social protection and greater risk management among businesses and populations.

Can Indonesia fix its SME insurance gap?

April 9, 2026 | London, UK

Growth in Southeast Asian insurance markets has been outpacing GDP growth in recent years, but the region’s insurance penetration rate remains stubbornly low, at less than half the global average. Across the risk landscape, protection gaps in natural-catastrophe losses loom large, and low penetration in Indonesia – the focus of this article – also endangers a fast-growing digital economy in which the extent and maturity of cyber protection and cyber cover is not keeping pace with the country’s rapid digitalisation.

Is the market softening for natural catastrophies a mirage?

March 6, 2026 | London, UK

With lower-than-average insured losses from natural catastrophes, last year saw a drop of around 25% compared to 2024’s US$ 140 billion . However, 2025 results are only marginally below the ten-year average, and given the volatility of natural catastrophe frequency, the recent softening of the so-called ‘nat-cat’ market reflects competition and over-capacity rather than any dramatic improvement in the risks associated with natural catastrophes and extreme weather.

How can AI plug talent gaps in Middle East insurance markets?

January 29, 2026 | London, UK

Like many insurance markets, the Middle East is facing a looming talent gap. Driven partly by demographics, a large cohort of experienced insurance professionals with career-long expertise is poised to reach retirement age as the baby-boomer generation begins to creep beyond the age of 65. In high-growth markets in particular, this talent gap needs to be addressed urgently, with a view to attracting, retaining and optimising scarce human resources with tech-enabled solutions.

Underinsurance: can aligning cover with risk counter complacency?

January 9, 2026 | London, UK

The proportion of underinsured and uninsured risk in North Africa is significant. Even in Morocco, which has long been seen as an outlier in a relatively underinsured region with low penetration rates, the risk of underinsurance to SMEs remains an existential threat to their operational and financial security. At the same time, businesses are suffering because re-insurers are not always able to adequately assess risk to understand probable maximum loss in a relatively immature market and therefore cannot price risk affordably.

What might 2026 hold for Middle East insurance markets?

January 5, 2026 | London, UK

As we emerge from a year that re-awakened the region to the dangers of geopolitical and cyber risk, opportunities for Insurers, re-insurers, MGAs and brokers are nevertheless likely to increase as digitalisation and heightened data visibility give innovators a significant competitive edge. Right across the Middle East, where insurance penetration has remained stubbornly low, risk awareness is growing, and commercial lines are likely to experience growth as the SME sector increasingly wakes up to the dangers of underinsurance.

Staying Protected in a Competitive Market: The risk of underinsurance for tourism/sports assets in GCC & MENA

December 11, 2025 | London, UK

As countries hosting large international sporting events start to de-risk capital exposures relating to investment in tourism and sporting infrastructure, the opportunity for re-insurers is substantial. After all, several major infrastructure projects are in the pipeline or under construction to accommodate the influx of spectators for World Expo 2030 and the FIFA World Cup 2034 in Saudi Arabia. Elsewhere in the MENA region, in preparation for the Africa Cup of Nations (AFCON) 2026 and the FIFA World Cup 2030, Morocco is investing heavily in significant tourism assets and accompanying infrastructure. Alongside sports tourism, many GCC jurisdictions are pressing ahead with mega-projects to develop luxury tourism and lifestyle hubs. De-risking MENA’s ongoing capital exposures in the tourism and sport segments offers brokers and re-insurers growing opportunities in the region, as well as a chance to demonstrate to buyers the severe risks of underinsurance.

The capacity challenge: How can brokers overcome re-insurance scarcity in emerging markets?

November 14, 2025 | London, UK

Emerging markets present challenges for intermediaries as well as for re-insurers, especially in North Africa and the wider African continent. With those challenges, however, come opportunities to tap into and grow new market segments. After all, hurdles can often act as catalysts for innovation, especially in product development, the deployment of new technology and the formation of meaningful commercial partnerships. For brokers, one of the biggest challenges in emerging markets is the growing scarcity of suitable re-insurance support for new products, precisely at a time when demand for those products is rising. In short, despite a record volume of global re-insurance capital, re-insurance capacity is not always readily available to support demand or growth.

The future of UK Motor GAP insurance: can it survive regulation?

October 14, 2025 | London, UK

The UK Financial Conduct Authority has been in the spotlight recently for its focus on motor GAP insurance. Guaranteed Asset Protection (GAP) insurance, is an adjunct to motor cover that insures the difference between a vehicle’s purchase price or outstanding finance, and its market value at the time of being written off. It has come to the attention of the FCA that GAP insurance might not be giving consumers fair value. One of the reasons is that a sizeable discrepancy in the ratio of claims value to premium income - data shows that only 6% of premiums revenue is paid out in claims, compared to a figure of around 65% for motor insurance. As a result of the FCA’s investigation, some 8 in 10 firms involved in the sale of GAP insurance were given little option but to pause sales in February 2024 at the FCA’s request.

How did 2024 treat small/mid-sized GCC insurers?

September 1, 2025 | London, UK

The overall picture for the insurance market across the GCC is one of growth, despite several challenges in 2024. For the full year 2024, the combined after-tax profit of around 80 listed insurers in the GCC reached US$ 2.1 billion, with average net profits rising by over 3%. Performance across the GCC’s six nations, however, remains uneven, and good top-line growth nevertheless hides a somewhat mixed bag when it comes to performance across the six national markets and within national markets. So what does the overall picture look like into 2025?

INSIGHTS & NEWS

JENOA Insights

Can mandatory cover in developing markets help increase insurance penetration?

Can Indonesia fix its SME insurance gap?

Is the market softening for natural catastrophies a mirage?

How can AI plug talent gaps in Middle East insurance markets?

Underinsurance: can aligning cover with risk counter complacency?

What might 2026 hold for Middle East insurance markets?

Staying Protected in a Competitive Market: The risk of underinsurance for tourism/sports assets in GCC & MENA

The capacity challenge: How can brokers overcome re-insurance scarcity in emerging markets?

The future of UK Motor GAP insurance: can it survive regulation?

How did 2024 treat small/mid-sized GCC insurers?