The Central Bank of the United Arab Emirates (CBUAE) said in a statement that the country’s total insurance sector profit reached AED 2.5 billion in 2023, compared to AED 1.96 billion in 2022.
Publish dateWednesday 2 October 2024 - 18:22
According to Amac news: The increase was mainly due to an increase in net investment income of the insurance sector in 2023, the statement said.
The total number of policies written for all types of insurance within the UAE increased to 14.6 million policies in 2023 compared to 8.4 million policies in 2022, the central bank’s statement for the UAE insurance sector in 2023 said.
The increase was mainly due to an increase in the number of property and liability insurance policies, especially in accidental loss of employment insurance policies, in 2023, the statement said.
The Emirate of Dubai has the largest share with 59.9 percent. Abu Dhabi's share rose to 21 percent, Ras Al Khaimah 6.6 percent, Sharjah 4.58 percent, Fujairah 1 percent and Ajman 0.5 percent.
Gross written premiums in the UAE have increased to Dh50.4 billion annually in FY23 compared to Dh44.1 billion in FY22. Dubai's share reached 61 percent, while Abu Dhabi's share was about 27.7 percent.
Gross paid claims in the UAE increased to Dh30.3 billion year-on-year in FY23 compared to Dh26.5 billion in FY22.
The total number of policies written for all types of insurance within the UAE increased to 14.6 million policies in 2023 compared to 8.4 million policies in 2022, the central bank’s statement for the UAE insurance sector in 2023 said.
The increase was mainly due to an increase in the number of property and liability insurance policies, especially in accidental loss of employment insurance policies, in 2023, the statement said.
The Emirate of Dubai has the largest share with 59.9 percent. Abu Dhabi's share rose to 21 percent, Ras Al Khaimah 6.6 percent, Sharjah 4.58 percent, Fujairah 1 percent and Ajman 0.5 percent.
Gross written premiums in the UAE have increased to Dh50.4 billion annually in FY23 compared to Dh44.1 billion in FY22. Dubai's share reached 61 percent, while Abu Dhabi's share was about 27.7 percent.
Gross paid claims in the UAE increased to Dh30.3 billion year-on-year in FY23 compared to Dh26.5 billion in FY22.
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Source : news agency wam
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