UAE – AED 48 billion insurance sector size in 2017
Thursday, 03 09 2017, Category: Insurance and Reinsurance, Country: U.A.E
Experts of the insurance sector expected the insurance sector to increase by 10% during the current year and total written premiums for all insurance lines in the country will reach AED 48 billion compared AED 44 billion written in the year 2016. They indicated that the insurance sector in the UAE is preparing for the new phase in 2017 after a major boom in business during 2016 along the growth of the national economy.
The development programs of the Insurance Authority as well as the positive indicators of the national economy confirm that the insurance sector is about to enter a new growth phase and will ultimately reach the size of AED 70 billion as premiums written by year 2020 with an annual growth of 10%.
Source: Al Bayan