Engineering premiums in UAE reach AED 1 billion in 2014
Saturday, 09 26 2015, Category: Insurance and Reinsurance, Country: U.A.E
Total Gross Written Premiums of the Engineering insurance branch reached around AED 1 billion in the local market during year 2014 compared with AED 916 million in year 2013, which represents a 9% increase according to the annual report of the Insurance Authority.
Insurance managers and workers expect the Engineering insurance to achieve continuous growth rates during the next years in light of the projects taking place currently and those that will be implemented soon in addition to the projects related to the “Expo Dubai 2020” indicating that the prices of engineering insurance have been affected by the competition in the market and witnessed ongoing decreases during the last years driven by the levels of supply and demand.
Source: Gulf 24