Life insurance has wind in its sails in the United Arab Emirates
The life insurance turnover is expected to increase from 10 billion AED in 2016 (2.7 billion USD) to 11.3 billion AED(3.07 billion USD) in 2017, that is an increase of 13% over twelve months.
Year after year, the life business has continued to gain market share at the expense of non-life insurance. Experts estimate that life premiums will represent 30% of total underwritings in 2017. This rate was 25% in 2016.
This expansion would be largely driven by the diversification of products and the emergence of insurance solutions in line with policyholders' expectations.
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