United Arab Emirates: a turnover of 10 billion USD for insurance in 2015

According to the annual report published by the Emirate’s authorities, the turnover reported by the insurance market amounted to 37 billion AED (10 billion USD) in 2015. This figure is 10.2% higher than the one exhibited in 2014.

The sector’s activity has considerably contributed to the country’s economic development with substantial growth perspectives lying ahead. The insurers registered in the United Arab Emirates amount to 61, 34 of which are national companies and 27 are foreign operators. Emirati insurers’ shareholder’s equity amounted to 17.5 billion AED (4.7 billion USD). Approximately 46 billion AED (12.5 billion USD) were invested by insurers in 2015, 60.5% of which in equities and bonds and 20.7% in deposit accounts.

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