One of the main growth areas for re-insurance is the MENA region – the Middle East and North Africa. These areas may be lagging behind traditional insurance hotspots such as North America and Europe, but growth is rapid. In the last decade, most countries in the MENA area have at least doubled or tripled the volume of premiums taken out.
Historically, investment in catastrophe risk quantification has always lagged significantly behind insurance growth. Premium volumes need to reach a certain level before catastrophe modelling becomes cost-effective. Catastrophe models first became available for certain MENA countries in the late 1990s, focusing mainly on earthquakes, hurricanes, typhoons and tropical cyclones. … READ MORE
Cititec Energy were saddened to learn that Sergio Ottochian, General Manager of our client Xodus, his wife, son and step-daughter, were on board Malaysia Airlines flight MH17 that came down in Ukraine on 17 July 2014.
We would like to offer our condolences to everyone at Xodus worldwide, but specifically in The Hague and London, where Sergio worked. We would also like to extend our thoughts to the friends and relatives of the Ottochian family.