UAE – 3% contribution of ins. to GDP in 2018
Thursday, 10 11 2018, Category: Insurance and Reinsurance, Country: U.A.E
The Insurance Authority expects the contribution of the insurance sector to the Gross Domestic Product to reach 3 percent during the current year. A recent report indicates that insurance premiums written will exceed AED 50 billion by the end of the current year, so insurance spending capita will reach more than USD 1400 and could ultimately reach USD 3 thousand according to growth indicators until year 2030.
Moreover, the Authority confirmed a series of achieved legislations over years 2017 and 2018, so 11 new laws and systems were implemented and they include motor insurance premiums, taxation, and bancassurance.
Source: Al Roeya - UAE