UAE – Health insurance premiums grow 120% to AED 12.8 billion
Wednesday, 05 04 2016, Category: Insurance and Reinsurance, Country: U.A.E
Health insurance premiums in the UAE grew by 120% over five years in order to reach AED 12.8 billion last year. However, Dubai is still developing its health insurance project where the third phase of the compulsory insurance project will implemented by the end of the next month of July when the number of insured will reach 3.8 million persons. However, coverage currently includes 75% of residents in the Emirate.
H.E Sultan bin Saeed Al Mansouri Minister of Economy and Chairman of the Board of Directors of the Insurance Authority said in a speech made on his behalf by executive director of the Securities & Commodities Authority (SCA) Mr. Obaid Al Zaabi that the number companies that offer health insurance in the country reached 47 companies of which 32 are national and 15 are foreign, indicating that “written premiums in the health insurance sector grew by 120% over the past five years in order to reach AED 12.8 billion in year 2015 which represents 45% of total written premiums in general insurance.
Source: Al Bayan - UAE