United Arab Emirates insurance industry report

The United Arab Emirates (UAE) insurance market continued its trend for a third consecutive year with an overall increase in profitability along with premium growth in 2019. Based on the preliminary disclosures and audited reports of the UAE insurance companies listed on the Abu Dhabi Securities Exchange and Dubai Financial Market, the Gross Written Premium grew by 8.3% to AED 23.7 billion during 2019 following a small increase in 2018. The increase in premium was primarily due to movements between listed and non-listed insurers. Milliman’s Safder Jaffer and Asad Irshad provide more perspective in this report.