Dubai – Mubasher: Credit conditions for insurers in Saudi Arabia, the UAE, Qatar, and Kuwait are expected to remain broadly stable in 2017, according to S&P Global Ratings.
S&P maintained its outlook despite the current economic slowdown in the GCC region due to relatively low oil and gas prices, as these contribute heavily to government budgets.
The Dubai Health Scheme entered its third and final implementation stage in 2016, when the remaining uninsured residents had to obtain medical insurance cover, initially by the end of last year 2016, but now by 31 March 2017.
The agency expected further material premium growth in 2017, since a large number of these policies were written in the last quarter of 2016, for which premiums will be earned in 2017.
In addition, a number of new policies will be written in the first three months of 2017.
