Others, such as Rodney Wicks of Aon Global Risk Consulting, were skeptical of the need for an additional captive domicile in the region. Wicks pointed to the fact that in addition to Dubai, both Qatar and Bahrain are also captive domiciles, and that between the three countries, there are currently only two captive insurers.
According to the Middle East Insurance Review, conducive regulatory initiatives by Dubai, Qatar, Bahrain, and soon to be Jordan, have sparked a growing interest in use of insurance captives in risk management programs even though the formation of captives in the MENA region is still in its early stages.