Health and motor insurance lines of business are expected to drive growth in the UAE insurance market in 2026, according to Sukoon Insurance, which is among the biggest insurers in the country.
The insurer is celebrating its 50th anniversary in 2025. It hopes that strong economic momentum, population expansion and accelerating digital transformation will spur the industry growth in 2026.
In a company statement, Sukoon Insurance Interim CEO and CFO Mr Hammad Khan said, “The year 2026 will be defined by rapid digitalisation, AI-driven disruption and stricter regulatory enforcement, which will elevate compliance costs and likely accelerate industry consolidation. Inflation and softening investment income will continue to pressure profitability, reinforcing the need for disciplined underwriting.”
The insurer said the devastating floods in 2024 have given a boost to demand for property and casualty insurance, while cyber insurance is gaining traction as companies scale digital and AI deployments.
At the same time, UAE’s growing long-term expatriate base is boosting interest in life, savings and pension products.
The UAE insurance market is expected to grow around 10-15% in 2026, following an expected exceptional market growth of around 15-20% in 2025.
Mr Khan said, “As we mark 50 years in the UAE, Sukoon enters its next chapter with the same spirit that defined our past – discipline, innovation and an unwavering commitment to our customers.
He added, “The UAE’s insurance sector is now on the verge of a major digital leap. We want to lead this transformation by offering smarter solutions, faster service and deeper trust, ensuring we remain a partner our customers can rely on for the next 50 years and beyond.”
To commemorate its milestone year, Sukoon introduced a special edition 50-year logo, multiple commemorative initiatives, including a gala celebration with employees representing more than 50 nationalities and a "Sukoon For All" CSR programme.