Increasing sales of homeowner's insurance policies in the United Arab Emirats
According to insurance comparator “yallacompare”, the sale of homeowner's insurance policies have grown by 100% since the fire that broke out in the Zen tower of Dubai marina on May 13, 2018. Broker Nexus Insurance noted on its part an unprecedented infatuation for this kind of policies in recent weeks.
Despite improved sales, the penetration rate of homeowner's insurance is limited to just 11% in the United Arab Emirates, a figure that pales in comparison with the 70% rate found in Europe.
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