Magazine

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

Nov 2016

Country Profile


Would winds of change bring market discipline?

The results of the first half of this year for the 29 listed insurers in the UAE give hope that a correction is underway after several years of unhealthy and unprofessional practices. The listed operators’ GWP reached AED10.6 billion (US$2.9 billion), a 9% increase compared to the first half of last year. Meanwhile, net profits saw a 118% jump to AED573 billion.

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General insurance - Market in evolution

The positive financial results of listed insurers for the first half of the year suggest that the UAE market is gradually regaining profitability on the back of regulatory intervention. We look at whether the overdue correction in the market would continue and how the regulator will sustain its momentum. 


Life insurance offers greater room for growth

Life insurance in the UAE has been developing steadily but operators can do more to expand their life offerings to individuals instead of focusing on group business. 

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Distribution - Expanding distribution horizons in the UAE

Improving the technical standards of the market are going to be reflected positively on the intermediaries’ operations, but all providers should prepare for a new era of disruption and be equipped with the necessary modern tools in order to prosper.

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Association - Working for a stronger market

With the strengthening of regulations, the market will take another couple of years to fully stabilise, says Mr Fareed Lutfi, Secretary General of the Emirates Insurance Association.

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UAE: Product development key to future prospects

With nearing saturation point and unsustainable rates, the market needs to find innovative ideas to diversify into newer business lines to keep the growth momentum, says Mr Abdulla Al Nuaimi of ADNIC. 

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UAE market at a crossroad - S&P

The UAE insurance market is at a crossroad as it strives to maintain growth amid a subdued economic environment, ever-increasing regulation and intense competition, says Mr Sachin Sahni of Standard & Poor’s.

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