Gulf countries – USD 150 million for Travel Insurance by 2019
Tuesday, 06 28 2016, Category: Insurance and Reinsurance, Country: Gulf Cooperation Council
Insurance officials of Wethaq Takaful Insurance Company in Kuwait said that Travel Insurance in the Gulf Cooperation Countries will grow significantly in the next three years despite the unstable economic conditions and the future trends of oil prices. They indicated that the insurance total written premiums for this line of business are expected to reach more than USD 150 million by year 2019 according to recent studies of specialized research centers.
The company added in a press release that Travel Insurance in the Gulf Cooperation Countries is considered to be a considerable line in the Kingdom of Saudi Arabia, United Arab Emirates, Bahrain, Oman and Qatar indicating that the willingness of company to grow amid competition will encourage this sector to develop and grow by searching for new channels and new partnerships with large international insurance companies.
Source: Al Qabas