UAE – AED 2.1 billion insurance administrative expenses in 2016
Monday, 07 03 2017, Category: Insurance and Reinsurance, Country: U.A.E
The value of the general and administrative expenses of the insurance companies listed in the financial exchanges of Dubai and Abu Dhabi representing 29 companies increased by 10% reaching AED 2.16 billion compared with AED 1.97 billion in year 2015. Therefore, the companies maintained their level of general and administrative expenses during the past two years, which reached 11.4% of total written premiums.
The financial report prepared by “Taha Actuaries & Consultants” mentioned that the total premiums written by insurers rose by 10% last year reaching AED 18.91 billion compared to AED 17.15 billion in year 2015. The total written premiums of conventional insurance companies rose by 11% reaching AED 15.9 billion compared with AED 14.3 billion whereas Takaful premiums rose by 6% reaching AED 3 billion compared with AED 2.8 billion in year 2015.
Source: Economic Al-Khaleej