UAE Insurance Regulatory Round-up 2017

Year in Review: UAE INSURANCE REGULATORY ROUND-UP 2017

The insurance industry in the United Arab Emirates (UAE) witnessed further increases in premiums and profitability in 2017. With the UAE insurance market projected to grow to USD18.1 billion by 2021, underpinning such growth will be the continued development of a robust and responsive regulatory framework across general and specialised lines of insurance and reinsurance.

There were a number of regulatory developments in 2017, which should serve to enhance the prudential oversight, competitiveness and quality of the UAE insurance sector in the coming years.  These included:

• Tightening the control on motor insurance premium pricing;