UAE – Signs of recovery of insurance companies
Tuesday, 10 04 2016, Category: Insurance and Reinsurance, Country: U.A.E
The insurance companies listed in the country showed signs of recovery in the first half of the current year as they realized total profits based on underwriting and net income compared to the total loss of last year according to Standard & Poor’s the rating agency, which confirmed that the improvement took place despite the stock market volatility, worldwide oil price decreases, and the economic slowdown in the Gulf Cooperation Countries.
The report said that these volatilities did not represent a hurdle that prevented the growth of the insurance market, which was supported by the growth of compulsory health in Dubai, indicating that that the health insurance sector in the country has been booming since year 2013 with an annual growth rate of medical insurance at 30% during this period.
Source: Al Ittihad