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Middle East and North Africa Financial and Professional Lines Pricing Trends Q2 2022

Pricing for financial and professional lines - which includes cyber, directors and officers (D&O) liability, crime, financial institutions, and professional indemnity - increased 30%, on average, in the second quarter.

08/09/2022

Pricing for financial and professional lines - which includes cyber, directors and officers (D&O) liability, crime, financial institutions, and professional indemnity - increased 30%, on average, in the second quarter (see Figure 3). When removing cyber insurance pricing, financial and professional lines showed an increase of 5%, on average, in the quarter.

  • D&O liability insurance experienced more competition in the second quarter, resulting in generally lower increases or flat renewals on the primary layer. In some instances, rate reductions occurred on excess layers.
  • Underwriters generally requested more information on environmental, social, and governance (ESG) issues; however, the impact on pricing is yet to be determined.
  • The professional indemnity (PI) market remained stable, with no material changes for capacity or rate increases.
(Figure 3) – Regional Index: MENA Financial and Professional Lines - Graph