UAE – AED 4.8 billion motor insurance premiums in 2016
Thursday, 11 10 2016, Category: Insurance and Reinsurance, Country: U.A.E
Motor insurance premiums during the first nine months of year 2016 in the UAE reached AED 4.8 billion and represented 21% of total written premiums in the sector.
The Insurance Authority clarified in statements to “24.ae” that motor insurance premiums reached AED 5.6 billion in the full year 2015 and represented 21.2% of total premiums written by insurance companies in the country.
The Authority indicated that “the total number of motor insurance policies sold during the first nine months of the current year was 2.4 million contracts against 2.3 million contracts in the same period last year whereas the total number of motor insurance contracts sold in 2015 reached 3 million contracts compared to 2.9 contracts in year 2014.