United Arab Emirates: local insurers lagging behind on the aviation market

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UAE General Civil Aviation (GCAA) is pointing to the local insurers for lagging behind on the aviation market. While 98% of investments in civil aviation are accounted for by the State, the insurance of those risks is largely dominated by foreign players. Nearly 33 billion USD in investments are expected in airport infrastructures nationwide, 8 billion USD of which in Dubai.

The number of aircrafts of local fleets has undergone substantial increase. Emirates accounted for 248 aircrafts at the end of 2015, Etihad Airways 119, Fly Dubai 50 and Air Arabia 36. This considerable increase has generated massive influx of inbound passengers. GCAA is required to discuss with insurance regulators the ways of improving aeronautic industry with local insurers.

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Fri, 01/04/2016 - 09:16
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