Banks channel 40% of insurance premiums in UAE
Thursday, 04 23 2015, Category: Insurance and Reinsurance, Country: U.A.E
H.E. Saleh Rashid Al Dhahiri, Chairman, Emirates Insurance Association confirmed that bancassurance represents 40% of total insurance premiums written in the UAE which reached AED 33 billion last year i.e. around AED 13.2 billion.
Al Dhahiri said in his opening speech in a “bancassurance” seminar organized by “Clyde & co.” yesterday in Dubai that the world’s markets experienced different methods to achieve cooperation between banks and insurance companies whether by establishing subsidiaries, joint projects, by acquiring insurance companies or distribution agreements which can be exclusive or through multiple companies.
Source: Al Ittihad