The UAE insurance market in 2022
Figures in thousands
| Class of Business | 2022 turnover | 2021 turnover | 2021-2022 evolution (1) | 2022 shares | ||
|---|---|---|---|---|---|---|
| AED | USD | AED | USD | |||
| Health | 21 741 970 | 5 919 034 | 19 868 130 | 5 408 503 | 9,43% | 46,02% |
| Motor | 4 758 861 | 1 295 552 | 4 731 141 | 1 287 911 | 0,59% | 10,07% |
| Fire | 4 303 331 | 1 171 539 | 3 342 522 | 909 901 | 28,75% | 9,11% |
| Engineering, Construction & Energy | 3 222 672 | 877 340 | 2 476 823 | 674 241 | 30,11% | 6,82% |
| Marine & Aviation | 1 819 333 | 495 295 | 1 467 499 | 399 483 | 23,98% | 3,85% |
| Other | 3 706 961 | 1 009 183 | 3 461 120 | 942 186 | 7,10% | 7,85% |
| Reinsurance ‐ Property & Liability | 5 711 | 1 555 | 0 | 0 | - | 0,01% |
| Total non-life | 39 558 839 | 10 769 498 | 35 347 235 | 9 622 225 | 11,91% | 83,73% |
| Individual Life | 5 799 687 | 1 578 907 | 7 083 233 | 1 928 198 | -18,12% | 12,28% |
| Group Credit Life | 828 444 | 225 536 | 947 495 | 257 927 | -12,56% | 1,75% |
| Group Life | 912 909 | 248 530 | 832 607 | 226 652 | 9,64% | 1,93% |
| Annuities & Fund Accumulation | 146 567 | 39 901 | 106 459 | 28 980 | 37,67% | 0,31% |
| Total life | 7 687 607 | 2 092 874 | 8 969 794 | 2 441 757 | -14,29% | 16,27% |
| Grand total | 47 246 446 | 12 862 372 | 44 317 029 | 12 063 982 | 6,61% | 100% |
(1) Evolution in local currency.
Exchange rate as of 12/31/2022: 1 AED = 0.27224 USD ; as of 12/31/2021: 1 AED = 0.27222 USD
Read also | Top 20 insurance companies in UAE
