Magazine date:
Jan 2011
According to AM Best, the insurance industry will report between 15% to 20% growth in the UAE, Qatar and Saudi Arabia. These short-term prospects are supported by high oil prices and by the States’ public expenditure policy. Rising imports will fuel the turnover of marine and non-life insurance. Personal line insurance is also likely to benefit from the windfall thanks to compulsory health and motor insurance. The challenge for companies is to make profits in markets where competition is fierce and investment income is down.