UAE – Takaful companies grew by 57% in 8 years
Thursday, 07 21 2016, Category: Islamic Insurance, Country: U.A.E
Takaful insurance companies operating in the local market grew by 57% during the period extending from 2008 to 2015. Moreover, investments grew by 135%.
The Insurance Authority clarified that written premiums increased by 33 percent, total assets by 88%, and shareholders’ equity by 31% in the past eight years.
The Authority mentioned that there are three classes of insurance locally i.e. personal insurance and capitalization including life insurance and health insurance.
It added that the main categories include property insurance including vehicles, fire, and marine. Finally, liability insurance includes civil liability for vehicles, personal accident insurance, and employer liability.
Source: Al Roeya - UAE