Five insurers hold 60% of the UAE market in 2021
The Emirati insurance market is closing the year 2021 with a 7% increase in its turnover. The written premiums realized by the 29 listed insurers have gone from 24.4 billion AED (6.6 billion USD) in 2020 to 26.1 billion AED (7.1 billion USD) a year later.
The market is dominated by five insurance companies which account for nearly 60% of the turnover recorded by the industry in 2021. The other 24 companies share the remaining 40%.
The net profit generated by all the listed companies reached 1.93 billion AED (525 million USD) by the end of 2021, representing a 2% increase over one year.
Top 5 Emirati insurers in 2021
| Companies | Turnover | 2021 shares | |
|---|---|---|---|
| (in billions AED) | (in billions USD) | ||
| Orient Insurance | 5.008 | 1.363 | 19.20% |
| ADNIC | 4.267 | 1.162 | 16.30% |
| Oman Insurance | 3.539 | 0.963 | 13.60% |
| Dubai Insurance Co | 1.226 | 0.334 | 4.70% |
| Al Ain Ahlia | 1.206 | 0.328 | 4.60% |
| Total top 5 insurers | 15.246 | 4.15 | 58.40% |
| Other insurers | 10.854 | 2.95 | 41.60% |
| Total | 26.1 | 7.1 | 100% |
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