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FINANCIAL NEWS
UAE’s insurance sector to grow
07 Jan 2012
(MENAFN) Insurance House (IH) General Manager, Mohammad Othman, said that as a result of increasing population and economic stability, over the coming few years, the UAE’s insurance market would be expected to witness greater demand, reported Gulf News.
Othman added that the country’s insurance market would introduce new and customized insurance products to a wide range of customers through a planned and a strong branch expansion strategy.
On the other hand, Zurich’s General Insurance division in the Middle East CEO, Maroun Mourad, said that over the coming 4 years, the UAE insurance market would grow 20 percent on a yearly basis to exceed USD17 billion in total premium income by 2015.
It is worth noting that IH plans to open a branch in Sharjah the next month, in addition to several other branches in other emirates in the UAE to cover the entire country due to a surge in demand.
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