Country Profile

United Arab Emirates

Growth has decelerated in the UAE insurance sector in 2018 for the first time in 10 years, which should prompt players to revisit their business strategies, avoid harmful competition and expand their offerings in new areas, especially life and savings, to ensure sustainable growth.

Stable returns for UAE insurers make the market attractive for foreign investors

Improvement in regulatory supervision, risk-management practices and pricing capabilities have been drivers in the growth of the UAE market. And given its size, the market would be attractive to a number of regional and international insurers, particularly those with an interest in medical insurance, says Mr Salman Siddiqui of AM Best.

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Retirement and savings to spur growth in the GCC: Gulf Insurance Forum

Demographic changes, along with the growing interest in shifting the burden of social services to the private sector in the GCC, should encourage insurers to expand their offerings in the end-of-service benefits and savings programmes, said speakers at the 16th annual Gulf Insurance Forum held in Dubai in October.

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