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FINANCIAL NEWS
S&P highlights UAE insurance market performance
20 Apr 2010
(MENAFN) Standard & Poor’s Ratings Services said that the UAE insurance market has delivered strong technical performance through the economic downturn, Gulf News reported.
According to the report, Dubai-based companies have grown rapidly in recent years and achieved the strongest technical profitability in 2009, but this is expected to slow as a result of slower economic growth.
By contrast, Abu Dhabi’s government plans to continue investing heavily in infrastructure, and shareholder funds are shifting to reflect this, S&P’s credit analyst Kevin Willis said in a statement.
Companies based in Dubai collected 47 percent of the total premium in 2009, Abu Dhabi 38 percent and other emirates 15 percent, the rating agency said in a separate report this month.
More News
24 May 2023
Empowering Success: BBK and BIBF honor 24 graduates of the BBK’s Women on Board Programme
16 Mar 2023
BBK partners with Four Seasons Private Residences Bahrain Bay to offer ownership financing for 112 waterfront homes.
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