Magazine

Read the latest edition of AIR and MEIR as an Interactive e-book

Mar 2023

Market Profile


UAE

UAE listed insurers' profits decline: Insolvencies loom

The UAE listed insurers’ premiums and earnings results moved in opposite directions in 2022 with the latter diving downwards due mainly to subdued investment and underwriting income in the face of persistent macro headwinds during the year.
 

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Regulation: Focus on digitalisation and technology

Insurance regulators in the UAE need to focus more on digitalisation and adoption of technology to make the market more inclusive and participative. Middle East Insurance Review spoke with Consilient Consultancy’s Mr Robin Ali to get a perspective on how best the insurance regulator can help develop the industry.
 

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Life insurance a tough sell for UAE population

Insurers in the UAE will have to innovate their products if they want to improve their market position in the country. Middle East Insurance Review spoke to HDFC International Life and Re’s Mr Manoj Raman about what life insurers need to do to improve insurance penetration.
 

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Things are looking (mostly) good for general insurance

The UAE’s general insurance sector continues to perform well on the back of the country’s growing economy and most indicators suggest that this is set to continue for a while. We spoke to three CEOs to get a better understanding of the main factors shaping the market.
 

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Reinsurance opportunities in the UAE

The UAE is a relatively small insurance market but it is highly reinsured. This can lead to larger knock-on effects as reinsurance rates continue to harden and inflation continues to rise. We spoke to Emirates Insurance’s Mr Jason Light for insights into the market.
 

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Boomtime for InsurTech in the UAE

Backed by supportive government initiatives and increasing demand for digital insurance solutions, the InsurTech segment in the UAE is rapidly growing and experiencing significant investment and innovation.
 

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A new player in DIFC

A new multi-class managing general agent and Lloyd’s syndicate delivering niche, specialist (re)insurance products has begun operations in the DIFC. Middle East Insurance Review spoke with Volante (DIFC)’s Mr Khalil Eid about its plans.
 

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