IslamicFinance.de

The UAE insurance market is the largest and most developed insurance market in the Gulf region in 2011 where insurance premiums during the period recorded a 10% increase compared with 2010. UAE's insurance market has doubled in volume and achieved a CAGR of 21% through to 2010. The market, however, remains dominated by non-life insurance, which still accounts for 85% of total premiums. A total of 61 insurers operated in the country in 2011. The UAE government is working on reforms to implement a comprehensive legal framework in order to expand the insurance industry in its different forms.