UAE – Ins. investments at AED 61.5 B in 2017
Monday, 05 28 2018, Category: Insurance and Reinsurance, Country: U.A.E
Mr. Khalid Al Badi, Chairman of the Emirates Insurance Association said that the legislations, regulations and decisions issued in the past years transformed the UAE into a leading insurance market in the region. This reflected positively on the size of written premiums, which increased from AED 40 billion in year 2016 to AED 44 billion in year 2017. Moreover, the invested funds increased from AED 52.2 billion in year 2016 to AED 61.5 billion in year 2017.
Furthermore, Mr. Al Badi said that the insurance companies operating in the country settled the value added tax related to insurance contracts issued last year and which are still in force in year 2018, so it collected the taxes from policyholders to this end.
Source: Al Bayan