UAE – 30% growth expected for Lloyd’s in 2016
Monday, 05 30 2016, Category: Insurance and Reinsurance, Country: U.A.E
Mr. John Nelson chairman of “Lloyd’s” said that the business volume through the Dubai platform is continuing its growth where the total underwritten business through this Dubai platform reached USD 91 million in year 2015. He expected in an interview with “Alkhaleej” that the growth of the company will reach 30% in the current year. The total written premiums of the group in the UAE reached USD 200 million whereas it reached USD 544 in other Middle Eastern countries noting that the total business written in the GCC is USD 800 million.
He said that the UAE and Dubai in particular proved to be a stability model, which gained the trust of the business community and international investors in an unclear period of the global economy. He expected the Emirati market to strengthen its position and importance in the near future and confirmed that that the group considers Dubai to be a Middle Eastern center for the insurance and reinsurance sector. There are opportunities as well to cover African markets through this Emirate.
Source: Al Khaleej