Emirati insurance market: forecasts for 2020

United Arab EmiratesExperts in the Emirati insurance market expect an increase in insurers' profits in 2020. According to forecasts, the growth rate of local operators' results would range between 10% and 12%.

Such performance is mainly due to a decrease in the motor claims rate during the lockdown. In health insurance, the postponement of medical treatment by policyholders and the decline in the number of visits to health offices and centres also benefited the insurers.

The health and motor activities together account for 60% of the total number of claim reports.

In addition to the aforementioned activities, the decline/ business interruption in certain sectors has led to a significant decline in work-related accidents, fires and other risks.

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