UAE – 35% Insurance profit growth expected in 2017
Thursday, 05 04 2017, Category: Insurance and Reinsurance, Country: U.A.E
Experts confirmed that the profits of insurers will grow significantly during the current year. They expect the profits of insurance companies to increase by a rate ranging between 25% and 35%. Therefore, the profits will reach approximately AED 1.5 billion by the year-end.
Moreover, experts expect total written premiums of these companies to grow between 10% and 20% reaching AED 23.6 billion during year 2017.
They indicated that the insurance sector in the UAE is about to enter a new phase in year 2017 noting that it witnessed a boom in year 2016 in line with the growth of the national economy.
Source: Al Bayan - UAE