MENA: UAE overtakes Turkey in insurance premiums
Source: Middle East Insurance Review | Jul 2018
The UAE has overtaken Turkey in terms of total premium volume, according to the latest Swiss Re Institute sigma study, ‘World Insurance in 2017’.
The market leader posted a 13.2% growth in premiums to $13.5bn last year, while Turkey saw its premiums down by 7.8% to $12.1bn. Saudi Arabia and Iran maintain their rankings in the MENA region with premiums reaching $9.7bn (-1.1%) and $9.2bn (+2.9%), respectively.
Total premiums in the Middle East, Central Asia and Turkey reached $55bn in 2017, with non-life business contributing to 85.5% of the market share, the report showed. M