2010 has been another interesting year of regulatory developments for the insurance sector in the Gulf Cooperation Council ("GCC") states and the wider Middle East and North Africa ("MENA") region. Whilst 2009 was a busy year in terms of regulatory developments, 2010 has seen a greater focus on the inevitable impact of global regulatory and legislative changes on regional insurance players.

In the wake of the global financial crisis, insurance companies in the GCC and MENA have been kept busy staying in touch with national, regional and international developments as insurance regulators ramp up regulation and supervision of insurance markets as a buffer against future economic turbulence and as a stimulus for growth.

International regulatory issues