Latest data from the Emirati insurance market [4] show that motor premium rates in H1 2021 declined by 15-20% compared to the same period in 2020.
This is mainly due to the ever-growing competition amongst the 48 insurance companies and their attempts to expand their market share.
Industry experts expect motor rates to increase during H2 2021.
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[3] https://www.atlas-mag.net/en/issue/the-insurance-market-after-the-covid-19
[4] https://www.atlas-mag.net/en/article/uae-insurance-market-in-2019-top-30-insurers-per-gwp