Magazine

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Nov 2017

Country Profile


United Arab Emirates

Regulations with positive impact

GWP is growing buoyed by higher motor rates and the compulsory health insurance in Dubai. Several experts say the market will remain unchanged for the coming year though the regulatory initiatives are creating a positive impact. Is a healthier, sustainable, and (hopefully) consolidated insurance industry in the offing?
 

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General insurance strained by competition

The market remains highly competitive not just in motor and medical but more so in fire where the increasing claims and severity of fire incidents in high-rise buildings seem not to have caused any hardening.
 

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Life insurance: New reality ahead

The UAE life insurance market is in change mode with standards rising led by regulatory reforms that will bring rules in par with the likes of Hong Kong and the UK with a client-centric focus. This is the golden chance for local players to expand their life operations.
 

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Takaful outstanding in first half

Takaful is concentrated in motor and medical. Operators have benefited from the improvement seen in both lines in the first half of the year.
 

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Home-grown profitability

The combined ratios indicate that UAE listed companies show better profitability than foreign branches despite their significant presence and high premium growth.
 

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