Market Monitor UAE: Preliminary insurance disclosures

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By Safder Jaffer | 27 February 2017
The UAE insurance market returned to profitability and accelerated its overall growth in 2016. Based on the preliminary disclosures of the UAE insurance companies listed on the Abu Dhabi Securities Exchange and Dubai Financial Market, the gross written premium (GWP) grew by 10.2% during 2016, up from an increase of 7.6% in 2015. For the 28 listed companies in the study, the GWP grew from AED 15.9 billion in 2014 to AED 17.1 billion in 2015 and AED 18.8 billion in 2016. The underwriting profit increased significantly in 2016 to AED 1,192 million compared to AED 543 million in 2015.