UAE – AED 5.3 billion motor premiums in 2017
Tuesday, 12 26 2017, Category: Insurance and Reinsurance, Country: U.A.E
The insurance sector wrote motor premiums of AED 5.3 billion in the UAE i.e. a growth of 1.5% during the current year, which witnessed an increase in motor prices with the implementation of the new unified motor insurance contract according to the estimates of “Business Monitor International”, the British consultancy, which confirmed that the local market was able to absorb changes in a positive way.
Moreover, the report indicated that the share of motor is approximately 17.9% of general insurance (non-life) premiums, which reached AED 29.59 by the end of the current year whereas life premiums reached AED 10.25 billion.
Source: Al Ittihad