The “Lloyd’s Market” expects growth in the Takaful sector
Monday, 05 11 2015, Category: Insurance and Reinsurance, Country: U.A.E
The Lloyd’s insurance market confirmed that the insurance market in the UAE has maintained its growth, indicating that the Emirati market will play a great role in its future growth given that it is one of the largest markets in the region.
It mentioned to the “Emirates Today” that the Takaful insurance sector is growing and is expected to continue its growth trajectory in the future years. It is indicated that the “lloyd’s market” is considered as the largest insurance company at the level of underwriting surplus in the United States.
“lloyd’s” is a global specialized insurance market and is the fifth largest reinsurer and is the largest insurer in the United States in term of underwriting surplus. There are 94 syndicates operating at “Lloyd’s” that cover all kinds of business in more than 200 countries and regions scattered all over the world.
In more detail the Country Manager of the “lloyd’s market in Dubai, Mr. Mark Cooper said that “insurance market in the UAE continued its growth since it witnessed in year 2014 a growth of around 10% compared to year 2013”.
Source: Gulf 24