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Gulf report - A glut of opportunity.

Europe Intelligence Wire

| February 01, 2004 | COPYRIGHT 2004 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(From Reinsurance)

By Isobel McCalman.

The (re)insurance market is understandably keen to tap into any areas of growth potential. The competitiveness of most western markets and the increasing development of areas that used to be emerging themselves, such as Bermuda and Singapore, means the hunt is on for somewhere else to develop new business. Bahrain sees itself as the 'next big thing' for the sector and the Bahrain Monetary Agency (BMA) hosted the Middle East insurance conference in January to spread the word.

The BMA took insurance on as part of its regulatory remit in August 2002 and a period of research and consultation, partly under the ...

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