Best’s Market Segment Report: Underwriting Conditions for UAE Insurers on Track to Improve Amid IFRS 17 Transition

 (BUSINESS WIRE) -- Measures put in place by the United Arab Emirates (UAE) insurance regulator, the Central Bank of the UAE, during 2023 and in early 2024 should ameliorate the relatively poor performance of personal lines insurance and support premium growth in the country, according to a new report from AM Best.

The Best’s Market Segment Report, “Underwriting Conditions for UAE Insurers on Track to Improve Amid IFRS 17 Transition,” notes that continued regulatory intervention was important given that the underwriting profitability of the UAE’s listed insurers continued to be affected by the heightened competitive environment in the motor and medical segments.

In the report, AM Best analysts also examine the recently published results for the UAE’s listed insurers and discuss the impact of the transition to the new IFRS 17 reporting regime.

To access a complimentary copy of this special report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=342283.

AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2024 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

 

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Contacts

Todor Kitin, ACA
Financial Analyst
+44 20 7397 0335
todor.kitin@ambest.com

Jessica Botelho-Young, CA
Associate Director, Analytics
+44 20 7397 0310
jessica.botelho-young@ambest.com

Richard Banks
Director, Industry Research – EMEA
+44 20 7397 0322
richard.banks@ambest.com

Edem Kuenyehia
Director, Market Development & Communications – EMEA & AP
+44 20 7397 0280
edem.kuenyehia@ambest.com