Insurance

UAE: Abu Dhabi 2020 - Insurance

In terms of gross written premium (GWP), the UAE’s insurance market has ranked first within the MENA region since 2008. In 2018 it had the highest insurance penetration and density levels in the GCC, at 2.9% of GDP and $1195, respectively. Abu Dhabi’s insurers play an important role in the sector, but as of 2020 they faced a number of changes to the domestic business environment, including new regulations and accountancy standards considered essential to the industry’s long-term sustainability. Alpen Capital, a prominent financial adviser based in Dubai, forecast a compound annual growth rate of 4.2% between 2019 and 2024 for the country’s insurance market. In terms of potential changes to the composition of GWP in Abu Dhabi and the wider UAE, any notable shifts are likely to be caused by the broadening of compulsory insurance. This chapter contains an interview with Ebrahim Obaid Al Zaabi, Director-General, UAE Insurance Authority.

Share
Cover of The Report: Abu Dhabi 2020

The Report

This chapter is from the UAE: Abu Dhabi 2020 report. Explore other chapters from this report.

Interviews & Viewpoints

Sketch of Ebrahim Obaid Al Zaabi, Director-General, UAE Insurance Authority (IA)
Ebrahim Obaid Al Zaabi, Director-General, UAE Insurance Authority (IA): Interview

Covid-19 Economic Impact Assessments

Stay updated on how some of the world’s most promising markets are being affected by the Covid-19 pandemic, and what actions governments and private businesses are taking to mitigate challenges and ensure their long-term growth story continues.

Register now and also receive a complimentary 2-month licence to the OBG Research Terminal.

Register Here×

Product successfully added to shopping cart