UAE insurance market: 2022 turnover

The Central Bank of the United Arab Emirates (CBUAE) has published the annual report of the insurance market for the financial year 2022.

The turnover of all insurers combined has reached 47.2 billion AED (12.8 billion USD), up by 6.6% over one year.

The market is dominated by the health class of business, which recorded a 9% increase in written premiums to 21.7 billion AED (5.9 billion USD), or 46% of the overall portfolio.

The motor and fire classes are in second and third place, with a premium income of 4.8 billion AED (1.3 billion USD) and 4.3 billion AED (1.2 billion USD) respectively.

At 7.7 billion AED (2.1 billion USD), life underwriting was down by 14% compared with the end of 2021.