Life insurance sector premiums at AED 7.5 billion in UAE
Wednesday, 02 10 2016, Category: Insurance and Reinsurance, Country: U.A.E
The size of the life insurance sector in the UAE reached AED 7.5 billion according to the “The Banker” magazine which quoted Timetric Insurance Intelligence.
The report said that the improving economic conditions of the UAE contributed to the strength of the life insurance sector in the country and it is expected to witness additional growth during the next four years according to the report.
The size of the life insurance sector in the UAE increased from AED 3.8 billion to AED 7.5 billion during the past five years, and it is expected to post a 10.8% growth until year 2019.
The main drivers of this future expected growth will be the growth of the economy and the new solvency standards adopted by the UAE.
Source: Al Bayan - UAE