UAE – Insurers seek sustainable growth
Monday, 03 12 2018, Category: Insurance and Reinsurance, Country: U.A.E
The listed insurance companies are seeking growth under the label “toward more sustainable growth” after having achieved a strong financial performance, which exceeded the expectations. This followed governmental decisions implemented since the start of year 2017, which enforced health insurance for all residents of Dubai and the increase of the minimum prices of motor insurance as well as the implementation of mechanisms that prevent price wars.
The “Economic Al Bayan” noted that the profits of 30 insurers listed in the Dubai and Abu Dhabi financial exchanges reached AED1.482 billion in year 2017, which represents a 45.34% increase compared to AED 1.019 billion in year 2016.
Source: Al Bayan