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The Central Bank of the United Arab Emirates (CBUAE) has published preliminary insurance market data for the year ended 31 December 2024. Overall turnover reached 64.8 billion AED (17.6 billion USD), up by 21.4% compared with the 53.4 billion AED (14.5 billion USD) recorded a year earlier.
Claims paid out by insurance companies amounted to 42.9 billion AED (11.7 billion USD) against 31.6 billion AED (8.6 billion USD) in 2023, marking an increase of 35.8%.
At 95.7 billion AED (26.1 billion USD), technical reserves were 25.4% higher than the previous year.
Assets and shareholders' equity of all insurance companies operating in the United Arab Emirates stood at 144.4 billion AED and 32.1 billion AED (39.3 and 8.7 billion USD) respectively at end-December 2024.
