UAE – AED 11.3 billion life premiums in 2017
Thursday, 01 19 2017, Category: Insurance and Reinsurance, Country: U.A.E
Experts confirmed that the size of the life insurance market in the country is expected to increase to AED 11.3 billion by the end of the current year compared to AED 10 billion achieved during last year. This represents a 13% growth rate. Life insurance premiums are expected to represent approximately 30% of total written premiums in the current year compared to 75% for general insurance.
The rapid acceleration of life insurance premiums in the past year is related to the programs offered by insurance companies and their link with banking loans (covering death and disability) in addition to the expansion of Sharia-compliant solutions.
Source: Al Bayan - UAE