UAE – AED 106 million losses of 29 insurers in 2015
Saturday, 02 27 2016, Category: Insurance and Reinsurance, Country: U.A.E
The “A M Best” rating agency said that the total written premiums of 29 insurance companies listed in the Dubai and Abu Dhabi stock exchanges reached AED 17 billion indicating that the preliminary disclosures of these companies showed a large weakening of the operating performance last year given total losses of AED 106 million.
The agency said that the losses are due to a very strong competition on prices and a weak investment performance caused by the decrease in oil prices which drove down the stock market.
Source: Emarat Alyoum