UAE – Takaful premiums at AED 8 billion
Monday, 03 05 2018, Category: Islamic Insurance, Country: U.A.E
The premiums written in the Takaful insurance sector in the United Arab Emirates reached AED 8 billion by the end of the year 2017 due to the significant growth witnessed in this sector in the UAE. Therefore, the UAE insurance sector became a leader among Arab markets in term of premiums written and underwriting capacity according to Mr. Osama Abdeen, CEO of the Abu Dhabi National Takaful "Takaful". Moreover, Mr. Abdeen said during an interview with “Al Ittihad” newspaper that the local insurance market has a strong infrastructure and innovative insurance products as well as excellent national companies and branches of international insurers. He confirmed that the insurance industry in the UAE whether traditional or Takaful is ready for mergers and acquisitions, which will strengthen the insurance sector.
He added that the UAE was a pioneer in issuing Takaful regulations and confirmed that the Insurance Authority launched discussions with companies in coordination with the Emirates Insurance Association in order to develop Takaful as a rewarding investment for shareholders and increase the protection of policyholders as well.
Source: Al Ittihad