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Shaken and stirred

The Middle East continues to be one of the most intriguing regions for the facultative market. Up to 2008 it seemed that not much could go wrong, as booming construction and rising oil prices drove unprecedented regional growth, attracting a swathe of brokers and reinsurers to the region. Then, of course, all this was set back by the financial crisis, with private investment in major construction projects substantially drying up.

Aided by healthy public coffers, however, investment...

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