UAE insurance sector improves performance in Jan-March with policies issued reaching 2.3 million – Arabian Business

UAE insurance sector improves performance in Jan-March with policies issued reaching 2.3 million – Arabian Business

The UAE insurance sector improved its performance in the January-March quarter of this year, with the total number of insurance policies issued reaching 2.3 million, up by 10.4 percent compared to 2.1 million policies in Q1 2021.

The total invested assets in the insurance sector also saw an increase of 5.4 percent during the quarter to AED77.8 billion, compared to AED73.8 billion in Q1 2021.

The gross written premiums (GWP) increased by 4.6 percent in the first quarter to AED15.8 billion, mainly on account of a 12.2 percent increase in property and liability insurance premiums, according to the Quarterly Economic Review issued by the Central Bank of the UAE, WAM reported.