Dubai-Mubasher: The UAE’s written premiums of all types of insurance grew by 13.5% to AED 33.5 billion year-on-year (y-o-y) in 2014, according to the UAE Insurance Authority.
Total underwritten premiums of life assurance and operations of fund formation amounted to AED 8.6 billion.
Total underwritten premiums of property and liability insurance amounted to AED 24.9 billion. Percentage of the national insurance companies’ retention of underwritten premiums of property and liability insurance reached 54.9%.
Earned premiums of property and liability insurance stood at AED 23.9 billion, while incurred losses of property and liability insurance before deduction of the re-insurance share reached AED 18 billion.
The amount invested in the market stood at AED 39 billion in 2014, reflecting the vital role the sector it plays in the national economy.
On the other hand, the total equities of the national insurance companies rose 13.1% to AED 19.8 billion y-o-y.
