Middle East: Arab market premiums grow by 6% to US$30 bln in 2014

Source: Middle East Insurance Review | Apr 2015

Premiums in Arab markets grew by 6% to about US$30 billion for 2014, according to the latest figures from by the General Arab Insurance Federation (GAIF).

GAIF’s Secretary General, Mr Abdul Khaliq R Khalil said in an interview with Al Wasat newspaper that he also expects growth this year. “I hope that there will be stability in all Arab countries. The insurance industry is tied to political and economic stability,” he said.

He urged insurers to make efforts to spread insurance awareness. “This role extends to the media, which plays a major role to serve the Arab insurance sector,” he added.

GAIF, founded in 1964, has about 400 insurance and reinsurance companies from 19 Arab states as its members.

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